Global property prices are not falling anymore

By Daily Maverick Legacy 13 October 2009

Actually, in some regions they are on their way up again. The newly-released Knight Frank Global House Price Index shows that not only in Nordic countries, but also in Australia, Israel and the Netherlands, the tide has turned quite happily. The reasons differ from country to country: some have historically low lending rates, while others still have relatively tight supply, all of which contribute to reversing the slide. The 800-pound monster in the room, however, remains the US market. It recovered somewhat, with home prices gaining 1.3% after the brutal price drop made many properties affordable. Who’d have thunk it? But the experts still worry about the lingering credit constraints in many countries as well as the inevitable interest rate increases in developed countries.

Gallery

While we have your attention...

An increasingly rare commodity, quality independent journalism costs money - though not nearly as much as its absence.

Every article, every day, is our contribution to Defending Truth in South Africa. If you would like to join us on this mission, you could do much worse than support Daily Maverick's quest by becoming a Maverick Insider.

Click here to become a Maverick Insider and get a closer look at the Truth.


Foreign Relations

Ramaphosa leads high-powered delegation to the UN – to sell SA

By Peter Fabricius

Adolf Hitler was the first European leader to ban human zoos.