Tag Archives: british
House prices fell in most regions in France in 2014
House prices in regional France continued to fall in 2014, but there are considerable variations, according to figures from estate agents. The annual review from the FNAIM, the national association of French estate agents, says that house prices fell by an average of 1.5% in 2014, but with significant variations across the country. Picardy led the way with price rises of 3.5%, Lower Normandy saw prices rise by 1.2%, Poitou-Charentes by 1%, Languedoc-Roussillon by 0.9%, Auvergne by 0.8% and Brittany by 0.4%. Elsewhere prices fell, most notably by 5.3% in Nord pas de Calais, by 5.1% in Limousin, by 4.9% in Upper Normandy, by 4.8% in Franche Comte, and by 4.3% in Champagne Ardennes. Although overall the FNAIM report says that activity levels remained broadly the same as that for 2013 at around 720,000 sales, volumes were only maintained due to continued strong activity in the main cities and tourist areas of the country. In many smaller towns and rural areas sales were substantially down. The differences have also deepened between the best and worst properties, with buyers taking their time to find the right property. Properties with substantial defects or other unfavourable characteristics remained unsold. In addition, in the more expensive areas of the country it was smaller properties that sold over larger homes, one reason, it seems, why activity levels were maintained. While the FNAIM data is taken as the most reliable, other national agents have also published annual figures which all show prices falling on a national basis but which differ somewhat on a regional level. Century 21’s annual review put the average fall in property prices at 2.8%. The data shows only one region with rising prices, Limousin with growth of 3.7%. Everywhere else show falling prices, most notably a decline of 7.4% in Languedoc Roussillon, a fall of 7% in Lorraine and 6.7% in Poitou Charentes. According to the Laforet group of estate agents there was a fall of 3% in regional prices outside of Paris with prices down across the board led by a fall of 5.7% in Limousin, 5.4% in Picardy, 5% in Poitou Charentes and 4% in Midi Pyrenees. Such is the lack of alignment in the regional figures between the agents, the only conclusion that can be drawn is that the trend continues downwards. The notaires have yet to publish their analysis of 2014, but for the third quarter the average annualised national price fall was still under 1%. The FNAIM believes that prices will continue to fall this year. It is predicting average falls of between 2% to 3% in 2015 and this in similar to other predictions from individual chains of estate agents. It means that prices are on average at the same levels they were in 2007. But 2015 could see more overseas buyers coming back to the French market, especially as average interest rates are now around 2.5% with some firms predicting they could fall further to 2%, making it cheaper for… Continue reading
New Zealand housing market saw a sales surge at end of 2014
Last year ended with a sales surge in the New Zealand residential real estate market with transactions up 24.2 in December compared with the same month in 2013. It was the strongest December sales since 2006 and the second strongest December on record, according to the data from the Real Estate Institute of New Zealand (REINZ). The index also shows that the national median price at $450,000, is up $23,000 on December 2013 but down $5,750 on November 2014. However, the Auckland median price reached a new record of $678,000. Overall there has been an annual increase in the national median price of 5.4% over 2014 compared with 9.8% over the 2013 and year on year sales were down 7% on the number sold in 2013. ‘The data for December shows very strong sales growth compared to 12 months ago and a much higher level of sales that we would normally expect for the final month of the year,’ said REINZ chief executive Helen O’Sullivan. ‘The effect has been seen right across the country, with a number of regions seeing further increases in sales in December after a strong November. The normal December slow down hasn’t really happened in 2014,’ she explained. However, she pointed out that apart from Auckland, median prices across the country have moderated somewhat. For the year ended December, Auckland’s median price rose by 13%, but the national median rose by only 5.4%. Even Canterbury, which has seen strong price growth during 2014 has seen its rate of price increase pull back to under 2% for the 12 months to December 2014. ‘The real estate market remains split between Auckland, with strong demand and price growth, and the rest of the country. While a number of regions are experiencing listing shortages the situation in Auckland is acute, with less than three months’ supply available and demand continuing to be robust,’ she said. ‘Vendors are simply not coming forward in large enough numbers to meet the demand, despite the strong price rises seen in Auckland over the past three years,’ she added. A breakdown of the data shows that four regions recorded an increase in sales volume compared to November with Hawkes Bay recording the largest percentage increase of 7.2%, followed by Nelson/Marlborough with 6.8% and Northland with 4.2%. All regions recorded an increase in sales volume compared to December 2013 with Manawatu/Wanganui recording the largest increase of 39.7%, followed by Waikato/Bay of Plenty with an increase of 34.8% and Wellington with an increase of 32.5%. The national median house price declined $5,750 or 1.3% to $450,000 compared to November. Compared to December 2013 the national median house price increased by $23,000 or 5.4%, with six regions recording an increase. On a seasonally adjusted basis the national median house price rose 0.2% compared with November and 4.7% compared to December 2013. Taking total volumes and prices into account, Auckland accounted for 98% of the increase in the median price between December 2014 and… Continue reading
Property prices in Northern Ireland set to outpace rest of UK in 2015
The Northern Ireland housing market ended 2014 as it began it, with prices and sales rising and surveyors expecting the trend to continue, according to the latest RICS and Ulster Bank survey. The Royal Institution of Chartered Surveyors expects Northern Ireland house prices to rise by 4% in 2015, which is higher than the expectation of 3% for the UK average. The latest survey suggests that demand in the local housing market remains relatively robust, with new buyer enquiries continuing to rise at a faster rate than new vendor instructions – indicating that there is a continuing lack of supply. In terms of prices, December was the 19th consecutive month that the headline price balance at +65 was in positive territory, indicating an increase in prices. The balance of surveyors expect prices to rise in the three months ahead. With regard to newly agreed sales, a net balance of +17 said that these increased in December, whilst a net balance for sales expectations in the three months ahead was +21. ‘The local housing market is expected to benefit from the reform of stamp duty, with the large majority of homebuyers here paying less of the tax. This will help encourage activity,’ said Samuel Dickey of RICS Northern Ireland. ‘In terms of prices, the gap between demand and supply is creating upward pressure. However, the slowing economic recovery and public spending environment will present challenges for the market. Overall, RICS expects prices to rise on average 4% this year, a moderation in growth relative to 2014,’ he added. According to Derek Wilson, head of lending products at Ulster Bank, mortgage demand remain strong in the final quarter of 2014. ‘We expect that to continue into this year, particularly from the home mover and first time buyer segments. We have a range of mortgage options available at historically low levels and we remain committed to lending to all sectors of the market,’ he added. Continue reading
