Thursday, February 18, 2016
House Prices in Austria
“House price growth was strong over recent years but has moderated recently”, says IMF’s report on Austria.
Posted by at 4:05 PM
Labels: Global Housing Watch
Thursday, February 11, 2016
House Prices in the Netherlands
Moreover, the report notes that “House prices have started to recover. However, they remain well below peak levels. Prices have risen by more than 5 percent since the 2013 trough, but they are still 17 percent below their 2008 peak in 2015:Q3. More than a quarter of Dutch households have mortgage debt in excess of the house value, primarily among younger households. The recovery in housing prices is uneven. The market is buoyant in Amsterdam, where house prices are less than 4 percent below the 2008 peak, and to a lesser extent in other major cities. However, house price increases are more subdued in outlying areas.”
“The turnaround in house prices presents an opportunity to implement policies to better insulate Dutch households and the overall economy from the effect of future house price declines and remove some of the incentives for excessive leverage—thereby reducing the likelihood and intensity of boom-bust cycles”, according to the IMF’s report on the Netherlands.
Moreover, the report notes that “House prices have started to recover. However, they remain well below peak levels. Prices have risen by more than 5 percent since the 2013 trough,
Posted by at 6:57 PM
Labels: Global Housing Watch
House Prices in New Zealand
A separate IMF paper “analyzes long-run trends in house prices and household debt in New Zealand. The key findings are that economic fundamentals such as financial liberalization, lower interest rates, demographics and supply constraints are important factors in the large run up in house prices. Although higher house price and household debt can largely be explained, it still has implications for financial stability.”
“House price inflation in Auckland has remained high. House prices in Auckland (where about one-third of the population lives) have continued their strong upward trend, rising by 22.5 percent (y/y) in December 2015, and the housing inventory available for sale remains low. Moreover, prices in neighboring areas are beginning to accelerate as buyers are priced out of the Auckland market. Supply shortages are a fundamental driver of house price inflation, exacerbated by high net immigration. On the demand side, Read the full article…
Posted by at 6:45 PM
Labels: Global Housing Watch
House Prices in Morocco
“There is little evidence of a housing bubble, as the price increase over the past 10 years appears modest relative to nominal GDP growth”, according to IMF’s report on Morocco. The report also notes that “Several prudential tools have been used to manage systemic risk. A code of ethics was adopted by banks in 2008 to tighten lending standards for real estate. In addition, an increased tax on nonprimary housing was used to discourage speculative house purchases in 2006–08. Read the full article…
Posted by at 6:32 PM
Labels: Global Housing Watch
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