Australia leader in global housing market recovery

Australia leader in global housing market recovery

26 November 2009 by Staff Reporter 0 comments

While housing markets in the world’s leading economies embark on the slow road to recovery, Australia has emerged one of the top performers.

Of 27 countries Australia’s housing market recovery was the second best performer on a global basis, with house priciest climbing 4.9 per cent since the third quarter last year, according to Global Property Guides.

Darwin had the highest price increase among Australia’s eight capital cities, followed by Melbourne and Canberra, with the upsurge partly fuelled by a genuine housing supply shortage.

Israel was the top performer, with house prices rising 10.2 per cent over the same period.

New Zealand experienced a more modest increase of 2.0 per cent.

Despite growth in some markets, more countries experienced house price falls (17 countries) than increases (10).

Lowest performers included Latvia (-59.7 per cent year to date), the UAE (-48.1 per cent), Bulgaria (-28.7 per cent), Iceland (-21.2 per cent), Russia (-19.5 per cent) and Slovakia (-15.3 per cent).

While housing markets in the world’s leading economies embark on the slow road to recovery, Australia has emerged one of the top performers.

Of 27 countries Australia’s housing market recovery was the second best performer on a global basis, with house priciest climbing 4.9 per cent since the third quarter last year, according to Global Property Guides.

Darwin had the highest price increase among Australia’s eight capital cities, followed by Melbourne and Canberra, with the upsurge partly fuelled by a genuine housing supply shortage.

Israel was the top performer, with house prices rising 10.2 per cent over the same period.

New Zealand experienced a more modest increase of 2.0 per cent.

Despite growth in some markets, more countries experienced house price falls (17 countries) than increases (10).

Lowest performers included Latvia (-59.7 per cent year to date), the UAE (-48.1 per cent), Bulgaria (-28.7 per cent), Iceland (-21.2 per cent), Russia (-19.5 per cent) and Slovakia (-15.3 per cent).

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
William Phillips on how agents can expand their database and grow their business

In this episode of Secrets of the Top 100 Agents, host Tim Neary is joined again by William Phillips to discuss the real estate database and...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?