During The Year To End Q3 2011, House Prices Fell In 25 Nations, Of The 44 Countries For Which Quarterly Home Price Statistical Data Are Available.
The planet's housing markets had a weak 3rd quarter of 2011, according to the latest survey of world-wide home price indices prepared by the Worldwide Property Guide. During the year to finish Q3 2011, house prices slid in 25 nations, of the 44 nations for which quarterly home price statistical data are available, and rose in only nineteen states.
Moreover, twenty-six housing markets performed more poorly during the year to the third quarter than last year, while only eighteen states performed better.
The Global Property Guide's probabilistic show uses price-changes after inflation, giving a more pragmatic picture than the more optimistic nominal figures usually preferred by real estate agents.
What's most outstanding this quarter is the wide range of outcomes :
The BRICs ' two impressive outperformers
India and Brazil ' housing markets have continued their impressive outperformance, with Delhi home prices up 22.68% during the year to Q3 2011, according to National Housing Bank (NHB) figures. There were robust home price increases in almost all India's major cities, reflecting the nations current hefty rate of consumer price inflation, despite a drop in demand caused by the repo rate jump in October (now at 8.50%), the thirtheenth since March 2010, making home loans more costly.
Europes housing markets mixed
The worlds 2nd strongest quarter-on-quarter home price rise took place in an unexpected city - Vienna, where home prices surged by 5.44% during the quarter (and +4.25% on the year), continuing six years of nearly unbroken price rises for Austrias capital.
The Baltics have also performed strongly. Latvia is the 3rd best performer among all reporting countries in our survey over the twelve months to Q3 2011. In Riga, standard type apartments rose 13.31% annual, a quick comeback after a fall of 5.40% in the 2nd quarter.
Following Latvia was Estonia, whose housing market is rallying after 3 years of terrific losses that commenced during the commencement of the world financial crisis. During the year to finish Q3 2011, home prices in Tallinn were up 12.30% with a quarterly rise of 2.71%.
And though prices in Lithuanias five biggest cities were down on the year to Q3 (-4.44%), their momentum is up compared against last year. During the latest quarter Lithuanias home prices rose extremely a touch (+0.22%) . Usually Lithuania follows the pattern of Latvia and Estonia, with a lag, so that the latest quarters home price rises may be a predecessor to a house price recovery in the new year.
Other European markets which have enjoyed adequate increases were Norway (+6.74%), France (+4.80%), and Switzerland (+3.35 pc).
Modest home price increases were seen in Slovenia (+0.82%), Iceland (+0.76%), Germany (+0.66%) and Luxembourg (+0.55%) in the year to Q3 2011.
The Irish housing market remains the worlds weakest performer. Home prices were down 15.61% yearly, the most steep decline since 2008. Quarter-on-quarter, Irelands house prices slid 4.25%.
Several other Western european housing markets experienced accelerated recessions during the year ending in Q3 of 2011, including Netherlands (-5.20%), Portugal (-6.77%), Slovak Republic (-7.94%), Warsaw, Poland (-7.95%), Spain (-8.41%) and Bulgaria (-9.65%).
Conversely, European countries which saw slower home price falls this year than the previous year include Turkey (-0.50%), Russia (-3.47%), Croatia real estate (-4.59%), Hungary (-4.67%), Athens, Greece (-6.57%) and Kiev, Ukraine (-7.02%) as reported tagza.com.

