London House Prices Showing Signs of Recovery
According to land registry data, prices in England and Wales stayed steady at £265,000 between October and November 2023. Prices per square metre however did rise by 1.3%. Overall prices were down 6% compared to November last year but only by 2.9% on a per square metre basis. Regionally the breakdown for November 2023 was…
Construction Costs up 23% in Europe in 3 years
The cost of building residential buildings went up 22% in the Eurozone between Q4 2020 and Q3 2023 exceeding inflation at 18% during the same period . For the EU as a whole costs went up 23%. While most countries saw costs go up at similar rates, Bulgaria saw costs go up at 90% in…
Turkey and the UAE Lead in Real Property Price Increases, Sweden and New Zealand Lag
Since interest rates started rising in the first quarter of 2022, the world as a whole has seen a real decline (net of inflation) of 3.2% in property prices. According to data from the Bank for International Settlements (BIS), the effect of this was felt more strongly in advanced economies which declined 5.4% while emerging…
Bank Valuations Drop in Portugal
Porto lead the drop in bank valuations based on data release by the INE for November, dropping 6.2% month on month. Elsewhere we’ve seen that the north, including Porto was where construction activity was at its strongest, so it looks like the increased supply is amplifying the effect of higher interest rates on prices. Overall…
Foreigners Pay Twice as Much for Property in Portugal
According to the latest statistics released by the INE for the third quarter of 2023, non-EU foreigners in Portugal pay an average of 407,000€ per property against 196,000€ paid by Portuguese domiciled buyers. This means that in Euro terms, foreigners are now 8% of the market as opposed to 3.3% four years ago. The average…
House Builders in Portugal Undeterred by Higher Interest Rates
House building continues apace in Portugal as the number of homes completed went up 9.9% in Q3 2023 compared to the same time last year. The north (including Porto) saw a 14.5% increase while Lisbon saw just 0.9%. The biggest increases were in Alentejo, Madeira and Açores albeit from a lower base. The Algarve was…
Property Prices in the England Aren’t Falling Much When You Account for Size
A lot has been made of the fall in property prices in the UK. The average property sold for £305,000 in September 2023 down from £311,000 at the same time last year. At the same time, energy certificate data shows that the average property sold in September 2023 was 2.9% smaller than that sold at…
UK Property App
Click here to go to the UK Property App Search for local sale prices, trends, crime, schools and demographics using a postcode or landmark and a radius.
Portugal Property App
Click here to go to the Portuguese property app. The app provides an interactive map with local data on median sale prices, bank valuations, new construction licenses and place of birth.
Global Property Data and News
The new trackmystreet aims to bring you detailed interactive property market data along with news, commentary and analysis. Interactive maps are currently available for the UK and Portugal with more to come. These provide local data on prices, demographics, crime, schools and more.