Global Housing Market Figures Released



Latest Statistics on Global Housing Markets

Latest figures from the Global Property Guide suggest Europe is still experiencing the brunt of the downward pressure comparing figures from the 3^rd Quarter 2011 to Q3 2012 in terms of property prices and sales numbers.

On a positive note the U.S. housing market continues to recover with the Federal Housing Finance Agency (FHFA) seasonally-adjusted purchase-only house price index rose by 2.31% year-on-year in Q3 2012, the highest growth seen since Q2 2006. The nationwide seasonally-adjusted S&P/Case-Shiller home price index also rose by 1.92% during the year to Q3 2012, in sharp contrast with its 7% year-on-year decline seen in Q3 2011.

Also Dubai in the U.A.E. has shown positive trends with the price index for all residential properties surged by 14.43% during the year to end-Q3 2012, as compared to a meagre year-on-year increase of 0.96% seen in the same period last year.

The Pacific markets also show signs of recovery with New Zealand 's median house price rose by 5.19% during the year to end-Q3 2012, in sharp contrast with the 4.39% year-on-year decline in Q3 2011. Likewise, Australia 's housing market is also improving, with house prices in its eight major cities falling by just 1.57% year-on-year in Q3 2012, the lowest decline since Q4 2010.

Some European markets are experiencing turnarounds with house price falls in Ireland decelerating. Ireland 's residential property price index fell by 13.17% year-on-year in Q3 2012, the lowest decline since Q1 2011. In addition, house prices have risen significantly in Austria, Turkey, Latvia, Germany, Iceland and Finland.

On the other hand many European housing markets remain extremely depressed, and continue their rapid spiral downwards. House price falls are accelerating in Greece, Spain, Netherlands, Portugal, Croatia and Lithuania. Of the 23 European countries included in the survey, 14 countries recorded house price falls while only 9 countries have seen house price increases. The nine weakest housing markets in our global survey are all in Europe.

Also the Asian housing market surge has weakened. Seven of the 10 Asian housing markets included in our survey performed more poorly this year than the previous year. But Asia 's biggest housing market, China, is recovering, judging by the latest quarter 's figures.

In inflation-adjusted terms, 23 housing markets have shown better year-on-year figures in Q3 2012 than in the same period last year, while 20 housing markets have shown poorer performance. However the nominal figures are slightly more disappointing—25 housing markets performed more poorly while only 19 performed better.

In Conclusion of the 44 countries for which quarterly house price figures are available, house prices fell in 23 countries, and rose in 21 countries during the year ending in the third quarter of 2012, again in inflation-adjusted terms.

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 can be misleading, as suggested by the fact that year-on-year in Q3, nominal house prices rose in more countries (27 countries) than fell (17 countries).



 

 

 

 

 

 

European housing markets generally weak

The scale of the European downturn, the sheer size of the downward pressure, continues to surprise. Of the 23 European countries included in the survey, 14 countries recorded house price falls while only 9 countries have seen house price increases. To make the picture more dismal, the nine weakest housing markets in our global survey are all in Europe.

Ireland remains the world 's weakest housing market in Q3 2012. However, house price falls now appear to be decelerating in Ireland. House prices dropped 13.17% during the year to Q3 2012, the smallest decline since Q1 2011. House prices dropped by just 0.03% in Q3.

Not so far behind was Greece, with house prices plunging by 12.47% during the year to Q3 2012, the steepest year-on-year decline since 1998. House prices dropped 1.03% during the latest quarter. Greece is already on its fifth year of recession with real GDP expected to contract by 6% this year.

House prices have declined in Spain. House prices plunged by 11.87% during the year to Q3 2012, the biggest decline since Q4 1992. House prices dropped 2.78% during the latest quarter. The Spanish economy is expected to contract by 1.3% this year and by another 1.4% in 2013. The country 's deficit is projected to remain high, at 8.1% of GDP by end-2012. Overall unemployment is at a record high, at 25%.

The Netherlands comes fourth on the list of the world 's worst performers. House prices fell 11.43% year-on-year in Q3 2012, the sharpest decline since Q1 2009. On a quarterly basis, house prices fell 3.37% during Q3.

Romania 's housing market remains depressed. The average selling price of apartments plunged 12.76% year-on-year and fell 4.61% during the latest quarter. Romania 's economic growth is expected to be flat this year with real GDP actually declining 0.5% in Q3 2012 from the previous quarter. The economy fell into recession in Q1 2012 before seeing a minimal growth in Q2.

Many other European countries continue to suffer. These include Portugal, with house prices falling by 9.7% during the year to Q3 2012, Zagreb, Croatia (-8.03%), Warsaw, Poland (-7.64%), Bulgaria (-6.84%), Ukraine (-4.41%), Vilnius, Lithuania (-4.36%), Slovakia (-4.13%), Russia (-3.98%), UK (-3.97%), and Sweden (-3.17%). All of these, except Slovakia and Sweden, recorded house price falls during the latest quarter.

Some strong European housing markets relieve the gloom. Austria 's housing market remains ebullient, with the residential property price index rising by 7.53% during the year to Q3 2012, after rising by 11.26% year-on-year in Q2 and 8.24% in Q1 2012. House prices rose by 0.50% during the latest quarter. Vienna 's residential property price index rose a dramatic 13.10% during the year to Q3 2012.

Norway 's house price index rose by 6.55% during the year to Q3 2012, and by 1.27% during the latest quarter.

The upsurge in these two countries' housing markets was so strong as to propel them into fourth and fifth place in the worldwide league table.

Other European countries which saw moderate year-on-year house price increases to Q3 2012 included Turkey (4.96%), Riga, Latvia (3.38%), Switzerland (3.27%), Germany (3.16%), Estonia (2.62%), and Iceland (2.28%).

Finland 's housing market is also improving. The average price of apartments in old blocks of flats rose by 0.52% during the year to Q3, the first year-on-year growth after four consecutive quarters of house price falls.

 

 

 

Latest BuyIn Fuerteventura Magazine edition available

Local magazine BuyIn Fuerteventura has just printed their latest edition to be picked up from hotels and selected outlets across the island including Goldacre Estates in the CC.Oasis Tamarindo Corralejo. The newest edition focusses on the village of Lajares in the North with its close proximity to the North shore and beaches of Corralejo, Majanicho and El Cotilo. The magazine holds adverts also for local businesses and services important to those looking to invest in property here in the Canary Islands and Spain. If you are looking to advertise your business or property for sale or rent you can find all the details on the magazines website http://www.buyin-fuerteventura.com and you can view the magazine here: http://flipflashpages.uniflip.com/2/7750/103930/pub/index.html.  

Tamarindo Apartment in Fuerteventura Spain

The Oasis Tamarindo apartments are well known to those visitors to Fuerteventura who have stayed in the resorts of Papagayo, Royal, Dunas and the Village, however not all repeat visitors are aware you can actually own a Tamarindo apartment of your own here in Corralejo. The resort grounds are extensive encompassing large open common grounds landscaped with palms, banana and fig trees plus lawned areas which all add to the 'Oasis' feel of the resort. Also on-site are the tennis courts and the beach volley ball court, not forgetting also the huge swimming pools that form the centre piece of the complex surrounded by large open sun terraces. The apartment layout ensures a very low density throughout the resort with each block of apartments only consisting of four apartments - two on ground and two on first floor. Each apartment therefore has its own teraces and there are plenty of garden space between each block offerring privacy. The overall location of the complex means owners are a short walk to the famous National Park of the Dunes - a protected park of over 12 kms that runs along the North East coastline. The cosmopolitan town of Corralejo is also in walking distance where you will find a healthy mix of Spanish restaurants mingling with Italian, British, German, Dutch and other European influenced eateries and bars plus a small range of boutique shops.

While Goldacre Estates have a variety of apartments and positions for sale, recently onto the market is this ground floor apartment which has two terraces, one facing South looking out onto landscaped gardens and the other is a covered patio ideal for al-fresco dinning. As a ground floor unit the surounding land forms part of the individual ownership in this case of approx 130m2. With a fully equipped galley style kitchen, generous bathroom, large double bedroom and a lounge that opens out on to the sunterrace this apartment is an ideal holiday home and suitable for short term holiday letting. In fact with the longest rental season in Europe Fuerteventura offers the strongest return on investment (ROI) with 52 potential weeks available due to the year round warm weather.

Priced at €75,000 this apartment now represents even stronger ROI due to the low price. For more information about this apartment or to discuss how you can finance a holiday home in the Canary Islands call 0034-928535044 or contact http://www.goldacre-estates.com info@goldacre-estates.com.

Canary Island And Greece Property Review

John Gold reviews the current economic climate for the Canary Islands and Greek property market.

How wrong can you be?

Talk about the kiss of death in our last newsletter, I talked about the positive news regarding sterling and since then it has all gone down hill !!
The economic data from the UK has sent sterling vs some of the other major currencies through the floor ( well not quite, bit of an exaggeration ) but it went as low as 1.08 euros to the pound ( see I said in my last newsletter you would not find a better time to buy ) anyway after the downward trend of the last couple of weeks, hey guess what we are now seeing it tracking upwards again to the heady heights of 1.0999 today ( 30 September ) fingers crossed it remains going in the right direction again if you read some of the daily reports from the major currency houses they have talked about the bank of England creating the reduced strength of the pound.
Anyway the good news for the buyers out there is property prices have not gone up!! YET! but on a more serious note opportunities are still out there and at some prices of the properties available, it really does not matter what the exchange rate is or does.
You will note a great selection of properties in this newsletter outlining some opportunities across the board from Villas to Apartments,
Keep an eye on your e-mails for the new electronic versions of BuyIN Fuerteventura and BuyIN Greece magazines, which are nearing completion and will be distributed shortly.
I mentioned a couple of newsletter ago the words Fractional Ownership which is starting to gain momentum in the real estate industry in the newest edition of BuyIN Fuerteventura there will be a focus on this subject to explain more, but an example of this is four owners can share ownership in a 3 Bedroom 2 Bathroom Villa with pool and Jacuzzi, in 1,000m2 plot for three months spread throughout the year from only 79,750 euros per owner and it is all FREEHOLD.
The sun remains, beach beckons and properties in the world of GoldAcre Estates remain available and the whole TEAM would love to show you them.
Good luck, happy hunting and wherever your search may you find your DREAM HOME we are there to assist you.