Global House Price Statistics

United States
Japan
Germany
France
Italy
United Kingdom
Canada
Australia
Belgium
Denmark
Finland
Ireland
Korea
Netherlands
Norway
New Zealand
Spain
Sweden
Switzerland

1993 1994 1995 1996

94.17 92.63 91.66 91.08
109.2 104.8 102.9 101.2
103.5 100.8
81.39
106 98.58 93.63 85.55
78.68 78.3 74.61 72.74
101.9 105 97.77 97.36
92.61 91.56 88.52 85.03
88.69 90.88 88.43 90.47
71.02 77.15 76.72 82.93

1997
90.51
98.23
97.55
79.82
79.96
74.36
97.78
85.47
90.88
91.18

1998
89.97
96.71
94.15
78.86
81.24
79.56
93.33
90.12
94
95.77

1999
91.13
94.68
93.52
82.73
83.45
85.3
93.18
93.06
98.2
104.6

74.5
114.5
75.47
68.6
79.91
96.87
76.86
100.9

78.07
74.95
93.32
86.06
97.03
86.98
82.28
84.79

87.46
67.22
98.64
88.77
92.23
87.38
88.25
82.06

101.1
63.23
111
95.02
88.27
89.43
92.45
79.9

76.09
96.97
81.05
76.06
88.75
95.9
79.17
100.3

73.69
87.13
83.18
77.8
90.57
88.75
77.25
94.01

73.98
78.09
88.26
81.3
94.83
86.64
77.8
89.48

2000
91.14
92.96
91.07
85.63
87.29
93.52
90.95
95.98
98.54
108.3
96.81
111
61.95
124.5
103.6
89.27
90.68
97.04
77.55

2001
94.98
92.26
87.76
88.46
89.59
95.38
91.89
100.1
98.66
108.4
90.53
111.2
61.61
126.4
109.1
85.44
94.19
96.5
76.89

2002
97.48
88.25
84.83
92.13
94.55
107.6
98.34
116.2
104.5
108.6
92.06
122.9
67.8
132.3
105.1
93.83
105.4
98.27
81.41

2003
99.95
84.9
82.34
101.1
101.4
119
104.6
132.2
110.9
108.3
93.1
133.8
68.66
138
100
105.8
120.8
102.4
84.74

2009
United States
200
Switzerland
Japan
Sweden 150
Germany
Spain
France
100
New Zealand
Italy
50
0
Norway
United Kingdom
Netherlands
Korea
Ireland
Finland
Price-to-Rent

Canada
Australia
Belgium
Denmark
Price-to-Income

Switzerland
Sweden
Spain
New Zealand
Norway
Netherlands
Korea
Ireland
Finland

Based on data from OECD

2004
104.1
79.11
79.54
112.3
108.1
130.8
109.6
133.8
118.4
113.7
95.97
139.1
64.51
142.1
106.2
118.5
136
110.1
84.84

2005
112.1
74.68
76.47
126.3
114.3
132.8
116.4
129.8
130.1
129.2
102.1
143.8
62.27
145.4
106.4
134.7
147.1
116.8
83.74

2006
113.5
71.63
74.76
136.2
118.3
136.6
121.9
131.4
138.3
152
104.8
156.2
63.63
148.2
128
144.5
153.7
125.5
82.77

2007
111
70.98
74.14
138.9
121.4
147.9
129.3
136.9
145.2
155.9
104.8
148.5
66.5
148.1
135.3
150.3
155.8
130.6
81.19

2008
103.3
69.96
72.42
137.3
121.7
140.2
122.7
137.6
145.9
145.5
100.2
130.3
65.5
151.1
126.4
144.1
149.5
128.3
82.48

2009
99.33
66.41
72.82
126.8
121.8
124.8
127.7
134.1
144.6
128.6
97.54
116.3
63.6
147.4
121.8
147.9
136.5
127.4
86.94

House prices for United States (Percentage change from previous year)
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
-2.0
-4.0
-6.0
-8.0

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Nominal House Prices

Real House Prices

House price ratios for United States (Long-term average = 100)

140.0
120.0

United States
Switzerland10
Japan
Sweden
Germany
5
0
France
-5
Italy
-10
-15

United Kingdom
Canada

Korea
Ireland
Finland
Nominal

Australia
Belgium
Denmark
Real

100.0
80.0
60.0
40.0
20.0
0.0
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Price-to-Rent Ratio

Price-to-Income Ratio

data from OECD

1
United States
Country
United States
Japan
Germany
France
Italy
United Kingdom
Canada
Australia
Belgium
Denmark
Finland
Ireland
Korea
Netherlands
Norway
New Zealand
Spain
Sweden
Switzerland

4
House Price-to-Income Ration
Data Type
Nominal House Prices
Real House Prices
House Price-to-Rent Ration
House Price-to-Income Ration

17
2009
Year
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009

United States
Japan
Germany
France
Italy
United Kingdom
Canada
Australia
Belgium
Denmark
Finland
Ireland
Korea
Netherlands
Norway
New Zealand
Spain
Sweden
Switzerland

Nominal House Prices

Real House Prices
Price-to-Rent Ratio
Price-to-Income Ratio

10

11

12

13

105.99
78.676
101.91
92.612
88.691
71.017

1994 1995 1996

92.63 91.658 91.079
104.8 102.93 101.21
103.55 100.82
81.387
98.576 93.63 85.553
78.299 74.614 72.742
105 97.772 97.358
91.559 88.517 85.031
90.878 88.43 90.471
77.15 76.72 82.932

1997
90.51
98.228
97.548
79.816
79.957
74.365
97.778
85.473
90.881
91.181

1998
89.965
96.706
94.147
78.856
81.236
79.559
93.329
90.118
94
95.769

1999
91.131
94.677
93.519
82.73
83.455
85.297
93.178
93.058
98.201
104.59

74.505
114.46
75.468
68.602
79.912
96.866
76.86
100.92

76.086
96.966
81.046
76.064
88.75
95.9
79.167
100.31

73.694
87.135
83.176
77.805
90.573
88.747
77.249
94.013

73.977
78.086
88.261
81.3
94.834
86.64
77.803
89.476

78.074
74.954
93.318
86.058
97.028
86.977
82.279
84.785

87.456
67.215
98.644
88.766
92.235
87.375
88.248
82.06

101.1
63.225
111.02
95.021
88.273
89.434
92.446
79.896

2000
91.144
92.961
91.073
85.63
87.294
93.515
90.949
95.981
98.544
108.27
96.812
111.03
61.953
124.53
103.6
89.274
90.677
97.04
77.55

2001
94.985
92.263
87.759
88.465
89.585
95.384
91.892
100.08
98.664
108.38
90.53
111.19
61.607
126.41
109.08
85.442
94.192
96.5
76.893

2002
97.476
88.247
84.83
92.135
94.555
107.57
98.341
116.16
104.55
108.57
92.056
122.88
67.802
132.33
105.08
93.833
105.37
98.267
81.407

2003
99.953
84.904
82.342
101.06
101.38
119
104.64
132.19
110.86
108.32
93.103
133.84
68.665
138.02
100
105.85
120.78
102.44
84.739

2004
104.07
79.114
79.54
112.33
108.14
130.84
109.6
133.79
118.41
113.72
95.967
139.05
64.509
142.14
106.19
118.54
135.96
110.09
84.838

2005
112.09
74.682
76.466
126.26
114.28
132.76
116.4
129.82
130.14
129.24
102.13
143.77
62.271
145.36
106.44
134.69
147.06
116.83
83.738

2.1
-0.1
90.4
94.2

2.3
0.3
89.8
92.6

3.0
0.7
89.6
91.7

3.6
1.4
89.9
91.1

3.6
1.7
90.4
90.5

5.1
4.1
91.9
90.0

4.8
3.2
93.7
91.1

6.5
3.9
96.6
91.1

7.7
5.7
100.3
95.0

6.5
5.0
102.9
97.5

6.3
4.2
106.8
100.0

9.5
6.7
113.9
104.1

11.4
8.1
123.6
112.1

1993
94.172
109.19

14

15

16

17

2006
113.54
71.633
74.757
136.21
118.25
136.63
121.94
131.42
138.33
152
104.79
156.21
63.629
148.2
128.01
144.49
153.71
125.46
82.768

2007
111
70.981
74.143
138.89
121.38
147.9
129.26
136.9
145.23
155.86
104.82
148.46
66.501
148.07
135.3
150.32
155.77
130.57
81.194

2008
103.32
69.96
72.423
137.27
121.74
140.23
122.66
137.6
145.86
145.53
100.21
130.26
65.496
151.05
126.4
144.09
149.55
128.26
82.484

2009
99.329
66.413
72.824
126.76
121.79
124.79
127.66
134.06
144.57
128.64
97.541
116.28
63.604
147.45
121.76
147.9
136.52
127.38
86.939

Nominal

Real

Price-to-Rent

Price-toIncome

18

35

52

-3.974
-3.808
-0.977
-7.134
-3.676
-7.825
4.5731
3.4328
-0.349
-12
-0.273
-13.65
0.1946
-3.306
1.97
-1.601
-7.564
1.5694
5.0501

-4.141
-1.69
-1.02
-6.731
-3.535
-8.999
4.02
0.3008
0.1089
-13.19
-0.838
-10.02
-2.283
-2.746
-0.582
-4.002
-7.7
-0.317
5.4763

112.88
65.899
74.569
133.63
111.53
135.82
146.35
149.66
158.16
128.46
129.09
144.33
108.71
144.03
150.47
154.45
143.69
135.05
87.97

99.329
66.413
72.824
126.76
121.79
124.79
127.66
134.06
144.57
128.64
97.541
116.28
63.604
147.45
121.76
147.9
136.52
127.38
86.939

7.2
4.4
128.1
113.5

1.7
-1.0
125.7
111.0

-3.1
-6.2
118.8
103.3

-4.0
-4.1
112.9
99.3

1 1
1 2 18
2 3 35
3 4 52
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

United States
Japan
Germany
France
Italy
United Kingdom
Canada
Australia
Belgium
Denmark
Finland
Ireland
Korea
Netherlands
Norway
New Zealand
Spain
Sweden
Switzerland

Nominal House Prices (Percentage change from previous year)

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1993
2.1
2.3
3.0
3.6
3.6
5.1
4.8
6.5
7.7
6.5
6.3
9.5 11.4
7.2
1.7 -3.1 -4.0 -0.1
-4.3 -2.4 -1.6 -1.9 -1.4 -1.6 -3.2 -3.8 -4.2 -4.6 -5.4 -6.1 -4.8 -3.0 -1.0 -1.6 -3.8 -5.3
1.0 -0.9 -1.8 -1.9
1.9
0.0
0.0 -2.8 -1.0 -1.9 -2.0
0.0
1.0
1.0 -1.0
-1.7
0.1
1.9
7.1
8.8
7.9
8.3 11.7 15.2 15.3 12.1
6.6
1.2 -7.1
0.2 -2.8
0.8 -3.3 -4.6
2.1
5.6
8.3
8.2
9.6 10.3
9.9
7.5
6.4
5.2
1.7 -3.7 -4.9
-1.7
2.6
0.7
3.7
8.8 11.5 10.9 14.9
8.1 16.1 15.7 11.9
5.5
6.3 10.9 -0.9 -7.8 -5.1
2.0
3.3 -4.6
0.1
2.9 -1.4
3.8
3.7
4.6
9.8
9.5
9.4
9.9 11.4 10.8 -1.3
4.6 -0.3
2.6
3.6
1.2
0.8
4.0
7.3
7.2
8.3 11.2 18.8 18.2
6.5
1.5
7.8 11.3
4.4
3.4
0.7
5.3
6.4
4.5
2.2
2.4
6.4
7.1
5.4
4.8
6.4
6.9
8.7 12.7 11.8
9.3
4.8 -0.3
2.0
-1.0 12.2
7.6 10.7 11.5
9.0
6.7
6.5
5.8
3.6
3.2
8.9 17.6 21.6
4.6 -4.5 -12.0 -2.1
3.9 -1.4
6.0
6.3
8.2
8.1
6.4
5.5
0.6 -0.3
2.0
4.7
6.3
8.6 14.7 24.1 21.5 20.6 12.4
7.0 14.2 11.2
7.4 13.5 -0.5 -9.1 -13.7 -0.1
-3.5 -1.6 -0.1
1.0
2.7 -9.2 -1.3
1.8
4.0 16.6
9.1
1.1
0.8
6.1
9.0
4.0
0.2 -9.5
8.2 12.3
6.9 10.8 12.0 10.9 16.3 18.2 11.1
6.5
3.6
4.3
3.8
4.6
4.2
2.9 -3.3
5.9
1.0 13.2
7.2
9.2 11.8 11.1 11.2 15.7
7.0
4.9
1.7 10.1
8.2 13.7 12.6 -1.1
2.0 -1.4
4.1 13.7
9.3 10.3
6.1 -1.7
2.1 -0.4
1.8
9.5 19.4 17.8 14.5 10.5 10.9 -4.4 -1.6
3.0
-0.3
1.5
3.5
2.6
4.2
4.9
7.0
7.5
9.5 16.9 20.0 18.3 14.6 10.0
5.5
0.2 -7.6 -5.3
-11.0
4.6
0.3
0.8
6.6
9.5
9.4 11.2
7.9
6.3
6.6
9.3
9.0 12.2 10.4
3.3
1.6 -16.8
-5.2 -0.1 -3.9 -5.3 -3.5 -0.9 -0.1
0.9
1.9
4.6
3.0
2.4
1.1
2.5
2.1
2.6
5.1 -7.7

Reel House Prices (Percentage change from previous year)

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
0.3
0.7
1.4
1.7
4.1
3.2
3.9
5.7
5.0
4.2
6.7
8.1
4.4 -1.0 -6.2 -4.1
-2.9 -1.3 -1.8 -2.6 -1.7 -2.6 -2.7 -3.1 -3.2 -4.6 -5.5 -4.1 -2.8 -0.4 -2.0 -1.7
-0.3 -1.8 -3.1 -2.3
1.6 -0.9 -1.7 -3.9 -2.5 -3.2 -3.3 -1.1 -0.8 -0.7 -1.0
-3.3 -0.8
1.7
7.7
6.4
6.0
7.3
9.7 13.1 13.3
9.8
4.4 -1.6 -6.7
-7.6 -5.0 -7.1 -6.7
0.3
3.7
4.7
5.4
6.5
7.3
7.2
5.2
3.7
2.8 -1.4 -3.5
0.6 -2.5
0.2
6.2
8.9
9.5 13.7
6.1 14.4 13.6
9.9
3.0
3.4
7.8 -3.9 -9.0
2.2 -5.8 -1.5
1.3 -2.6
2.1
1.5
2.7
7.7
7.8
7.8
8.1
9.8
9.1 -2.8
4.0
2.1 -1.5 -1.3
2.5
6.1
6.3
5.1
7.3 15.2 16.0
5.1 -0.4
4.2
7.9
0.7
0.3
3.6
2.4
1.5
0.8
5.4
6.7
1.9
2.9
5.1
5.3
6.2
9.7
8.6
6.3
1.6
0.1
9.3
5.6
9.0
9.4
7.5
4.8
3.7
3.4
1.9
1.9
7.6 15.8 19.3
2.5 -7.4 -13.2
-0.4 -3.7
3.7
6.9
7.8
7.2
4.9
3.3 -2.8 -0.8
2.1
3.8
5.7 11.7 19.1 18.5 12.6
7.8
1.5
9.7
9.2
5.5 11.0 -3.7 -11.6 -10.0
-10.3 -6.2 -5.5 -3.3 -14.6 -3.9 -2.5 -0.4 13.2
5.7 -2.0 -1.4
4.5
6.9 -0.5 -2.3
9.5
4.7
8.6
9.4
8.7 14.1 13.8
6.4
3.4
1.2
3.3
1.7
2.3
2.3
1.5 -2.7
12.1
4.7
7.9
9.2
8.4
9.0 12.4
4.8
3.5 -1.2
9.3
7.1 11.6 11.3 -4.5 -0.6
12.1
6.8
7.5
4.2 -3.6
1.4 -2.6 -0.4
7.3 18.4 16.0 12.1
7.2
9.2 -7.7 -4.0
-3.2 -1.3 -0.6
1.5
2.9
4.6
3.6
5.8 13.7 16.3 14.2 10.8
6.2
2.1 -3.2 -7.7
1.8 -2.5 -0.1
5.2
9.0
7.7 10.3
5.7
4.7
4.9
8.2
7.9 11.0
9.0
0.4 -0.3
-0.4 -5.2 -6.5 -4.3 -0.8 -0.5
0.1
1.3
3.7
2.6
1.5
0.6
1.1
0.7
0.0
5.5

House Price
1993
90.4
118.4

1994
89.8
113.1

1995
89.6
109.1
99.0

114.1
75.2
93.4
83.6
85.9
66.0

103.2
73.6
96.6
86.0
87.5
72.1

97.9
70.6
90.9
85.6
88.9
76.0

1996
89.9
105.5
95.2
76.1
88.1
69.9
91.1
83.7
88.6
83.0

58.6
103.3
72.3
63.1
70.9
97.7
67.2
97.1

66.4
97.3
77.3
70.6
75.4
94.0
67.7
96.4

66.2
93.1
78.6
74.1
77.4
92.2
65.8
91.7

72.6
90.6
83.7
79.6
81.4
88.0
64.0
85.7

1997
90.4
102.6
91.4
75.1
78.8
73.2
94.0
84.6
89.3
90.1
78.4
90.1
90.3
86.8
83.8
86.4
66.2
82.3

House Price-to-Rent Ration (Long-term average = 100)

1998 1999 2000 2001 2002 2003 2004
91.9
93.7
96.6 100.3 102.9 106.8 113.9
100.3
97.2
93.4
89.3
85.3
80.7
76.0
88.6
89.5
88.5
87.6
84.0
82.3
80.1
75.1
79.0
86.0
92.4
97.6 106.1 118.9
76.4
78.1
82.5
87.3
93.5 100.4 107.3
78.9
84.9
94.6
99.1 112.0 127.5 139.4
92.3
94.8
96.3
98.3 106.0 113.2 121.1
88.1
92.1
96.7 104.2 120.9 140.2 145.8
93.8
99.1 103.0 105.9 110.0 115.0 122.7
96.3 100.1 103.9 107.1 108.1 108.7 115.1
104.6
99.5 106.0 113.3 121.5
94.1 137.7 148.5 138.0 151.1 183.2 198.3
80.0
82.0
83.6
83.6
92.8
97.6
96.5
96.7 109.2 125.6 135.6 140.3 141.0 142.6
94.2 101.3 112.7 115.9 116.5 114.1 122.8
80.5
83.1
82.5
92.8
99.7 115.5 131.9
86.4
89.3
92.5
97.1 108.8 125.2 142.3
71.9
78.6
87.0
92.3
96.1
99.9 105.9
81.5
80.8
80.4
79.7
82.5
84.7
85.7

House Price-to
2005
123.6
72.3
77.8
132.3
112.9
142.7
129.9
144.7
135.6
132.1
127.7
196.1
97.1
144.4
129.9
147.4
156.4
112.7
85.4

2006
128.1
70.2
76.8
143.4
117.2
147.7
139.8
151.0
146.5
157.4
130.1
181.9
102.2
147.5
144.4
159.3
164.9
125.4
85.8

2007
125.7
69.6
76.6
148.2
120.6
158.2
148.8
159.4
157.3
161.3
129.4
137.8
109.2
150.3
158.0
171.8
166.6
136.2
85.7

2008
118.8
68.4
76.3
146.8
119.7
151.1
141.6
154.6
161.9
150.3
124.9
111.4
110.5
152.0
151.5
159.3
160.3
137.3
85.8

2009
112.9
65.9
74.6
133.6
111.5
135.8
146.4
149.7
158.2
128.5
129.1
144.3
108.7
144.0
150.5
154.4
143.7
135.0
88.0

1993
94.2
109.2

1994
92.6
104.8

1995
91.7
102.9
103.5
93.6
74.6
97.8
88.5
88.4
76.7

1996
91.1
101.2
100.8
81.4
85.6
72.7
97.4
85.0
90.5
82.9

1997
90.5
98.2
97.5
79.8
80.0
74.4
97.8
85.5
90.9
91.2

106.0
78.7
101.9
92.6
88.7
71.0

98.6
78.3
105.0
91.6
90.9
77.1

74.5
114.5
75.5
68.6
79.9
96.9
76.9
100.9

76.1
97.0
81.0
76.1
88.7
95.9
79.2
100.3

73.7
87.1
83.2
77.8
90.6
88.7
77.2
94.0

74.0
78.1
88.3
81.3
94.8
86.6
77.8
89.5

78.1
75.0
93.3
86.1
97.0
87.0
82.3
84.8

House Price-to-Income Ration (Long-term average = 100)

1998 1999 2000 2001 2002 2003 2004
90.0
91.1
91.1
95.0
97.5 100.0 104.1
96.7
94.7
93.0
92.3
88.2
84.9
79.1
94.1
93.5
91.1
87.8
84.8
82.3
79.5
78.9
82.7
85.6
88.5
92.1 101.1 112.3
81.2
83.5
87.3
89.6
94.6 101.4 108.1
79.6
85.3
93.5
95.4 107.6 119.0 130.8
93.3
93.2
90.9
91.9
98.3 104.6 109.6
90.1
93.1
96.0 100.1 116.2 132.2 133.8
94.0
98.2
98.5
98.7 104.5 110.9 118.4
95.8 104.6 108.3 108.4 108.6 108.3 113.7
96.8
90.5
92.1
93.1
96.0
87.5 101.1 111.0 111.2 122.9 133.8 139.1
67.2
63.2
62.0
61.6
67.8
68.7
64.5
98.6 111.0 124.5 126.4 132.3 138.0 142.1
88.8
95.0 103.6 109.1 105.1 100.0 106.2
92.2
88.3
89.3
85.4
93.8 105.8 118.5
87.4
89.4
90.7
94.2 105.4 120.8 136.0
88.2
92.4
97.0
96.5
98.3 102.4 110.1
82.1
79.9
77.6
76.9
81.4
84.7
84.8

2005
112.1
74.7
76.5
126.3
114.3
132.8
116.4
129.8
130.1
129.2
102.1
143.8
62.3
145.4
106.4
134.7
147.1
116.8
83.7

2006
113.5
71.6
74.8
136.2
118.3
136.6
121.9
131.4
138.3
152.0
104.8
156.2
63.6
148.2
128.0
144.5
153.7
125.5
82.8

2007
111.0
71.0
74.1
138.9
121.4
147.9
129.3
136.9
145.2
155.9
104.8
148.5
66.5
148.1
135.3
150.3
155.8
130.6
81.2

2008
103.3
70.0
72.4
137.3
121.7
140.2
122.7
137.6
145.9
145.5
100.2
130.3
65.5
151.1
126.4
144.1
149.5
128.3
82.5

2009
99.3
66.4
72.8
126.8
121.8
124.8
127.7
134.1
144.6
128.6
97.5
116.3
63.6
147.4
121.8
147.9
136.5
127.4
86.9

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