The UK housing market is improving at a greater pace than many European counterparts, new figures have revealed.
House prices rose by 1% in the UK overall last year, according to the Royal Institution of Chartered Surveyors (RICS), and by 10% since the market low point in April.
By contrast, countries with poorly performing markets like Spain, Greece and most of Central and Eastern Europe, especially the Baltic States, saw heavy falls of between 27% and 53% in 2009. Norway enjoyed the most pronounced recovery last year, with the average price of property increasing by 12%. Neighbouring countries, Finland and Denmark, reported price growth of 8% and 7% respectively.
Source – eMoneyfacts
Related articles
- Britain’s housing market ‘one of fastest improving’ in Europe (telegraph.co.uk)
- British House Prices Probably Won’t Fall This Year, RICS Says (businessweek.com)
- House price rises put UK in Europe’s top five (guardian.co.uk)
Justin Moy