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Thread: Q1 2014: Global house price boom continues

  1. #1
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    Default Q1 2014: Global house price boom continues

    by GLOBAL PROPERTY GUIDE
    Jun 11, 2014
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    The global house price boom continued during the year to Q1 (first quarter) 2014, gathering pace. Despite strongly rising housing markets in Taiwan and the Philippines, the momentum seems to be passing momentarily from Asia, where interventionist authorities have slowed housing markets in Hong Kong, Singapore and China. Instead, action is shifting to the Pacific, the Gulf, and (less forcefully) to Europe, which are all seeing strong price rises.

    House prices rose in 31 of the 45 housing markets which have so far published housing statistics, according to a survey of official house price statistics for Q1 2014 by the Global Property Guide, using inflation-adjusted figures. The more upbeat nominal figures, which are more familiar to the public, showed house prices rising in 33 countries, unchanged in one country, and falling in only 11 countries.

    Momentum: 30 housing markets showed stronger upward momentum in Q1 2014 than the same period last year, while only 15 housing markets showed weaker momentum.
    Inflation-adjusted figures are used throughout.

    The global boom continues to accelerate:

    Dubai has had a spectacular performance over the past two and a half years. Its latest performance was an amazing 31.57% annual house price rise during the past year to Q1 2014. Property demand is surging and the economy remains strong.
    Pacific housing prices rose impressively. In New Zealand, median house prices rose 8.36% during the year to end-Q1 2014, after year-on-year rises of 8.02% in Q4 2013, 6.4% in Q3, 5.11% in Q2, and 7.19% in Q1. Likewise, Australia's house prices continue to rise rapidly, driven by record low interest rates and strong demand from foreign homebuyers. House prices in the country's eight major cities rose by 8.3% during the year to Q1 2014, its strongest performance since Q2 2010.
    In the United States, the S&P/Case-Shiller seasonally-adjusted national home price index rose by 5.41% during the year to Q1 2014, down from year-on-year price rises of 9.37% in Q4 2013, 11.96% in Q3, 8.47% in Q2, and 8.25% in Q1.

    Quarter-on-quarter, the US national home price index dropped slightly by 0.5% in Q1 2014

    More European housing markets are now booming.  In Ireland, residential property prices rose by 7.49% during the year to Q1 2014, in sharp contrast with the year-on-year decline of 3.49% seen in a year earlier. United Kingdom house prices rose by 7.35% year-on-year in Q1 2014, in sharp contrast to the annual decline of 2.52% the previous year, and the biggest increase since Q3 2007.

    Asian housing markets were mixed.

    Some Asian housing markets performed strongly.

    In Taiwan, house prices soared by 11.28% during the year to Q1 2014, slightly up from year-on-year increase of 10.17% during the previous year. In the Philippines, the average price of 3-bedroom condominium units in Makati CBD rose by 8.95% in Q1 2014 from a year earlier, a sharp improvement from the annual growth of 2.32% during the same period last year.

    In Shanghai, China, the price index of second-hand residential buildings rose by 8.35% during the year to Q1 2014, a remarkable improvement from the growth of 1.21% during the same period last year. But other signs indicate a slowdown in China's residential property markets.

    Asian housing markets with modest house price increases included Malaysia, with house prices rising by 4.35% during the year to Q1 2014, Thailand (3.64%), Tokyo, Japan (3.32%), Indonesia (1.78%), and South Korea (0.02%).

    Two important markets in Asia, however, performed poorly:

    Hong Kong's house prices are now falling, due to government cooling measures. Residential property prices in Hong Kong dropped 2.27% during the year to Q1 2014, in sharp contrast with the spectacular annual growth of 20.44% in Q1 2013. Hong Kong saw a house price drop of 1.24% quarter-on-quarter in Q1 2014.

    In Q1 2014, the total number of homes sold in HK plummeted by 33.7% from a year earlier, to just 10,788 units, according to the Ratings and Valuation Department (RVD).

    Singapore's housing market continues to decline, amidst modest economic growth. House prices dropped 1.68% during the year to Q1 2014. In Q1 2014, house prices fell by 1.43% from the previous quarter.

    Primary residential sales volumes in Singapore plummeted by 67% year-on-year to 1,791 units in Q1 2014, the lowest level since 2008, according to the Urban Redevelopment Authority. Likewise, resales and sub-sale private homes plunged 57.9% to just 1,010 units over the same period, according to Savills Singapore.

    Conclusion: The global house price boom continues to accelerate, with most countries back to their pre-crisis levels. House prices are rising in many more countries than not, and the momentum trend is strongly upwards. In fact, many housing markets are now considered overvalued. Several countries are now imposing housing market cooling measures to avoid a repeat of the past.
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  2. #2
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    Default Hi

    The article I read from IMF last week : Spore down by 0.9 % and HK up by 10.25%, and the latest update in May 2014, HK hv just relax the cooling measure and in fact price's wl be going up while we speak, a new launched soon in TST for one bedroom less that 400 sqft wl be going for more than HK$ 10 millions, FYI.

  3. #3
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    Quote Originally Posted by my2cents View Post
    The article I read from IMF last week : Spore down by 0.9 % and HK up by 10.25%, and the latest update in May 2014, HK hv just relax the cooling measure and in fact price's wl be going up while we speak, a new launched soon in TST for one bedroom less that 400 sqft wl be going for more than HK$ 10 millions, FYI.
    Singapore Down not because of no demand it because of TDSR, remove TDSR and you will see Singapore number One in % up.

    I have SGD 1.8 million debt and I still want to buy if Bank can still loan me the money.

    Money = Debt , No Money equal no Debt.

    Bank don't need deposit to loan, they just key into the system and money is created.

  4. #4
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    Quote Originally Posted by Arcachon View Post
    Singapore Down not because of no demand it because of TDSR, remove TDSR and you will see Singapore number One in % up.

    I have SGD 1.8 million debt and I still want to buy if Bank can still loan me the money.

    Money = Debt , No Money equal no Debt.

    Bank don't need deposit to loan, they just key into the system and money is created.
    Ya, one part is TDSR, the other part is Foreigner not buying due to cooling measures, is about time the authority should review the implemented many years of cooling measures, it is imbalance when the price is up, the authority pushing it down but when it so down, are they going to bring it up.....

  5. #5
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    Default

    Quote Originally Posted by Arcachon View Post
    Singapore Down not because of no demand it because of TDSR, remove TDSR and you will see Singapore number One in % up.

    I have SGD 1.8 million debt and I still want to buy if Bank can still loan me the money.

    Money = Debt , No Money equal no Debt.

    Bank don't need deposit to loan, they just key into the system and money is created.
    Hi Arcachon

    and also because of the ABSD ?

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