House Prices Up 7.4%

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Table showing quarterly and annually changes in house prices across Europe and the EU

Eurostat, the statistical arm of the European Union, writes:

House prices, as measured by the House Price Index, rose by 3.0% in the euro area and by 4.0% in the EU in the first quarter of 2016 compared with the same quarter of the previous year.

…Compared with the fourth quarter of 2015, house prices rose by 0.4% in the euro area and by 0.7% in the EU in the first quarter of 2016.

House prices up by 3.0% in the euro area (Eurostat)

Previously: Crisisier And Crisisier

23 thoughts on “House Prices Up 7.4%

  1. Eoin

    Hooray for the recovery! Recovery of the property bubble that is. When wages start going up by 7% per annum in line with house prices I’ll celebrate.

    1. ,Anomanomanom

      The bright side is prices and mortgages are dirt cheap at the moment. I paid through the nose for mine, that’s tough shit on me, but prices still are not near 07/08 price and that’s good. My property is still worth around 40k less than what paid. That’s 9 years later.

      1. Rob_G

        True – but think what you would have paid in rent during those 9 years? Every cloud, and all that.

        1. ,Anomanomanom

          Oh I know. I’d have been paying dead money. I was just explaining that prices are not out of control.

          1. coco

            They are out of line with wages. Nowadays you can only get a mortgage of 3.5 times your salary. what would that get you?

      2. Owen O'F

        Dirt cheap? What world are you living in?

        Highest variable rate mortgages in Europe at a time of historically low interest rates. Dirt cheap if you’re on a tracker, maybe. In which case you’re probably stuck with massive negative equity anyway.

        And who but a couple on a combined of 80k+ can afford a 250k mortgage? And what happens when kids come along? So, dirt cheap if you’re a cash rich investor, maybe.

        So: dirt cheap for the already indebted and the already rich.

        1. ,Anomanomanom

          Average rate in my area is about 1400 a mortgage on property that is currently renting for 1150(cheap rate, yet ridiculously high) a month is only 575. So yes dirt DIRT cheap

  2. Tony

    Great news for all those stuck in negative equity for the past number of years. Finally more security in their home and the return of mobility to the market.

    1. well

      Yeah all those holes holding onto empty homes waiting for the value to go back up will finally release them onto the market… bringing the price down.

      1. Tony

        Chicken little and misery all round. The alternative is that they a) stay the same keeping everyone in negative equity and stasis in the market, or b) that they go down and make everyone suffer more. Which would ye prefer? Oh, let me guess- That all houses be free cos its a right and wrap the world in a daisy chain of smiles!

  3. perricrisptayto

    Here we go again.
    Wont be long before the bumper property sections are back in the indo and times. Get in early folks before they’re all gone!!!
    What could possibly go wrong.

  4. Mulder

    What only up 7.4%, is that all.
    That is a disgrace, can hear folk all around the country cry, what is the government doing.

  5. Eoin

    If NAMA had not been set up then many overvalued (boom price) properties would have nose dived a lot more than they did. NAMA took properties into management that would have had to be sold at a fraction of their original value on the open market. Price discovery would have been brutal and negative equity would be much worse today and prices would be much, much lower. And that’s what happens when you take on debt you cannot service. This increase in prices is on top of already well overinflated house prices. I think 15 times your annual rental potential for a property gives you it’s price. That’s the global mean for evaluating property. Ireland, of course, is way off.

  6. H

    Well, I’m happy to see that the heat has come out of the UK market at last, but that probaby doesn’t apply to London :-(

    1. Kieran NYC

      I dunno – did you see all the property investment funds stopping people from withdrawing in the last week?

  7. Andy

    Great news, and the govt/developers want mortgage regulations to loosen. Did I just dream up the banking crisis or did it actually happen…..

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