Global house prices
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The Global Property Guide's latest survey of house prices shows an uneven recovery in global housing markets during the year to the end of the 1st half of 2010.
Some East Asia countries are enjoying runaway house price booms.
Singapore has been a spectacular performer with 34% house price increases y-o-y to end-Q2 2010. Hong Kong and Australia have also seen strong y-o-y house price performances.
On the other hand, Europe is very mixed, with Latvia (up 9.4%) and Finland (up 9%) surging (though Latvia's price rises have since stalled), while house price declines continue in Ireland, Bulgaria, Lithuania, Iceland, Russia, Croatia, Spain and Slovakia.
Ireland had the steepest price falls of all the countries covered.
Over the year to end-Q2 2010, 18 countries saw house price increases, while 18 countries saw price declines.
The last quarter's figures are similar: 17 house price rises to 19 declines.
A momentum perspective:
• Only 6 countries saw bigger price decreases, or smaller increases, during the year from Q2 2009 to Q2 2010, than during the same period the previous year.
• However, 30 countries saw larger price increases, or less severe declines, than last year.
The Global Property Guide's statistical presentation uses price changes after inflation, giving a more realistic picture than the more upbeat nominal figures usually preferred by real estate agents.
Nominal figures, which are more usually used, are shown in the second table.
