House prices are faltering right round the world, with falls in 24 out of 36 countries surveyed.
Research business Global Property Guide says Ireland’s price declines have been ‘catastrophic’ with a fall of 18.95% over the past year.
In Greece, house prices tumbled 11.68% and in Spain 9%. It puts UK house prices at 3.14% lower than last year.
Countries where house prices have risen include Estonia (up 9.13%), Austria (up 8.24%), Norway, Russia and Iceland. Housing markets in most of Asia cooled, while in America, house prices went up just 0.48%, following the previous year’s 7.44% decline.
In New Zealand, house prices moved up 0.82%, but in Australia they fell for a fifth consecutive quarter to stand at 6.04% lower than a year ago.
* A seminar on the international property market, which will include advice on how UK agents can promote themselves to the Chinese buying market, is being held on June 29.
It is being put on by a sister title to EAT, IEAT, and is sponsored by the Fortune RE Group.
It takes place in Mayfair, London, and EAT readers can get £10 off by using the special promotional code Ros29 when they book online.
Comments
There's a kinda hush all over the world tonight.........
Erm... excuse me - no mention of Japan in this story?
Obviously, having fallen by a minumum of 867% in the 1990s and never having recovered by so much as a Yen since - and sellers now forced to give their homes away with a massive cash sweetener and a Suzuki Swift attached in order to attract the solitary potential buyer available for the nineteen million homes on the market in one street alone in the Skrewu District - there isn't much room for a drop, is there...?
Come on, 'dave' - fill us in with what you've read recently!
I want to know. I NEED to know.
Input. INNNNPUUUUUUT... ;o)
Do they have their own HPC nutters infesting their sites as well??