Industry NewsInternational

Gauging the end of global housing bust

19 of 36 countries saw year-over-year price increases in Q1

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Overseas property analysis site Global Property Guide has declared the global housing bust "effectively over." Out of 36 countries, 19 had seen year-over-year price increases in the first quarter of 2010, the site said in a recent article. Those were the results of the site's latest survey of official house-price statistics around the world. Moreover, while 15 out of the 17 remaining countries saw prices fall, the rate of decline for eight of those 15 slowed. Only Ireland, Bulgaria and Thailand showed no signs of recovery, the site said. Several European countries have rebounded from last year's first-quarter slump. House prices in Finland, for example, rose an inflation-adjusted 11 percent, while Norway's home prices rose 7.7 percent. The United Kingdom's house prices jumped 5.4 percent. Prices in France and Germany remained mostly flat, each rising less than a percentage point year-over-year. Prices in Spain, Iceland, Lithuania and Latvia still saw year-over-year decline...