Why house prices are surging once again
In America, Australia and parts of Europe, property markets have shrugged off higher interest rates
Is a fresh housing boom under way? In April a house-price index for the world, excluding China, rose by more than 3% year on year (see chart 1 ). American house prices are 6.5% higher than a year ago, Australian ones have increased by 5% and Portuguese ones are soaring. In other countries, the market looks surprisingly strong given years of high interest rates (see chart 2).
This article appeared in the Finance & economics section of the print edition under the headline “The great escape”
Finance & economics June 22nd 2024
- Why house prices are surging once again
- How bad could things get in France?
- Europe faces an unusual problem: ultra-cheap energy
- Indian state capitalism looks to be in trouble
- America’s rich never sell their assets. How should they be taxed?
- Think Nvidia looks dear? American shares could get pricier still
- Is America approaching peak tip?
From the June 22nd 2024 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance & economics
Why your portfolio is less diversified than you might think
The most important idea in modern finance has become maddeningly hard to implement
Can Germany’s economy stage an unexpected recovery?
The situation is dire, but there are glimmers of hope
Georgia Meloni has grand banking ambitions
Will Italy’s nationalist prime minister manage to concentrate financial power?
Tech tycoons have got the economics of AI wrong
Following DeepSeek’s breakthrough, the Jevons paradox provides less comfort than they imagine
Donald Trump’s economic warfare has a new front
The president has threatened to blow up the global tax system. Will allies be able to stop him?
Don’t let Donald Trump see our Big Mac index
America’s tariff-loving president could learn the wrong lessons from international burger prices