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News and Views GhostDigest Monday, 21 May 2012
Hissing sound
19 January 2006In Hear that hissing sound?, the opinion is expressed that the air is slowly leaking from the global housing bubble and that even if property prices have a soft landing, in some countries it is so overvalued that prices could stagnate for up to a decade. Looking at the graph, one sees that South African property has enjoyed a truly remarkable return between 1997 and 2005.
| % change on a year earlier | |||||
| Q3 2005* | Q3 2004 | 1997-2005 | |||
| South Africa | 15.8 | 34.5 | 271 | ||
| New Zealand | 14.5 | 16.4 | 79 | ||
| Denmark | 14.3 | 9.7 | 73 | ||
| France | 14.2 | 15.5 | 100 | ||
| Hong Kong | 14.1 | 31.2 | -43 | ||
| Spain | 13.4 | 16.8 | 150 | ||
| United States | 12.0 | 13.0 | 85 | ||
| Sweden | 9.5 | 9.8 | 98 | ||
| Belgium | 9.4 | 10.9 | 62 | ||
| Italy | 7.3 | 9.7 | 81 | ||
| Ireland | 7.2 | 11.5 | 208 | China | 6.6 | 9.9 | na | Netherlands | 5.6 | 2.9 | 85 | Canada | 4.4 | 6.9 | 50 | Singapore | 3.3 | nil | na | Britain | 2.4 | 19.3 | 166 | Switzerland | 1.3 | 2.2 | 13 | Australia | 1.0 | 8.2 | 112 | Germany | na | -1.3 | nil | Japan | -4.7 | -6.0 | -30 |
| *Or latest | |||||
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