Date Published 11 June 2012
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.