Recovery of the world’s top economies

December 11, 2009

The recovery of the leading economies of the world is continuing. The newest summary of the housing statistics for 2009 provided by the Global Property Guide supports this claim.

In the third quarter of 2009, the biggest increase of the housing prices was in Israel: 10,2 percent. The most significant decline, on the other hand, was in Latvia: 59,7 percent . As for Canada, the housing prices decreased by 2,14 percent. Overall, in the third quarter more countries went had a decline than an increase.

But in spite of many price decreases, it is still possible to say, as mentioned in the beginning, that the economies are aiming towards recovery. The quarter-on-quarter house price changes Canada, Germany, Singapore, South Africa and the UK are positive again, which is a good sign. Also, the annual data show a clearer picture that the statistic of the third quarter solely. According to those, prices have increased in 16 states and fell in only 11 over the year. Let's just hope this trend will continue!