SOURCE: Scotiabank

Scotiabank

December 20, 2013 07:00 ET

Global Property Markets Display Increasing Strength: Scotiabank

TORONTO, ON--(Marketwired - December 20, 2013) - Housing conditions globally are displaying increasing strength, underpinned by improving growth prospects and highly stimulative monetary policy, according to the Scotiabank Global Real Estate Trends Report released today.

"While a number of national markets in Europe remain weak, most major advanced nations are showing more positive signs," said Adrienne Warren, Senior Economist, Scotiabank. "Property markets in the majority of emerging nations in Asia and Latin America remain relatively buoyant, with China in particular reporting accelerating price gains."

Highlights of the report include:

  • The United States maintains its position at the top rung among advanced nations in Scotiabank's latest survey of international house prices, with average inflation-adjusted home prices up 8% year-over-year (y/y) in the July to September period.
  • Canadian home price appreciation also remains near the top of the pack, with a 7% y/y real house price gain in Q3.
  • The U.K. housing recovery is gaining traction, supported by the government's 'Help to Buy' home purchase program for low-deposit borrowers.

Read the full Scotiabank Global Real Estate Trends Report at http://www.scotiabank.com/ca/en/0,,3112,00.html.

Scotiabank provides clients with in-depth research into the factors shaping the outlook for Canada and the global economy, including macroeconomic developments, currency and capital market trends, commodity and industry performance, as well as monetary, fiscal and public policy issues.

Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through our team of more than 83,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking to over 21 million customers. With assets of $744 billion (as at October 31, 2013), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using Marketwired. For more information please visit www.scotiabank.com.

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