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Price growth across the markets covered in the Knight Frank Global House Price Index fell in the final quarter of 2007 on a year on year basis. Globally, price inflation over the year was 8.2%, compared to 9.7% recorded in Q4 2006. Falling annual price inflation to the final quarter 2007 in markets such as Estonia, Ireland and Latvia have more than compensated for the continued strong performance seen in Bulgaria and the impressive rates of growth seen in Russia, Poland, Hong Kong and Singapore.
The US market remains troubled. House prices in the US have continued to decrease, and the pace of decline appears to be increasing. Prices nationally have fallen 0.3% over the last year as the 1.3% quarterly decline in the last three months of 2007 negated slight gains earlier in the year. The only state where prices did not fall in the final quarter of 2007 was Maine. However, not all areas of the US have seen prices fall over the course of the year. Utah, Wyoming, North Dakota, Montana and Alaska all saw price inflation of over 6%, with Utah achieving 9.3% to Q4 2007. The greatest declines in residential property prices were observed in California, where prices fell by 6.6%, Nevada (5.9%), Florida (4.7%) and Michigan (4.3%).
The US market remains troubled. House prices in the US have continued to decrease, and the pace of decline appears to be increasing. Prices nationally have fallen 0.3% over the last year as the 1.3% quarterly decline in the last three months of 2007 negated slight gains earlier in the year. The only state where prices did not fall in the final quarter of 2007 was Maine. However, not all areas of the US have seen prices fall over the course of the year. Utah, Wyoming, North Dakota, Montana and Alaska all saw price inflation of over 6%, with Utah achieving 9.3% to Q4 2007. The greatest declines in residential property prices were observed in California, where prices fell by 6.6%, Nevada (5.9%), Florida (4.7%) and Michigan (4.3%).
Tags: investment, investment-abroad, overseas-property, property-abroad
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Permalink Reply by The Maui Hunter Georgina M. Hunter R(S) on -
If you need any info about the market on Maui (Hawaii) I am happy to provide some. The condo resort market is still strong - yet there are some great deals to be had if you look hard enough. A good real estate agent can do that for you.
Georgina M. Hunter "Georgie" R(S) e-Pro
Jim Sanders Realty Inc. Paia Maui HI 96779
cell: 808 283-0635
www.EastMaui.com
mailto:realmaui@hawaiiantel.net
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