They may not be the favourites to win Euro 2016, but when it comes to real estate, this is England’s year. Property portal TheMoveChannel.com pitted the housing markets of the 24 countries against each other in a property tournament to end all property tournaments.
The site compared each country across three key categories: house price growth in the 12 months to Q1 2016, using Knight Frank’s Global House Price Index, the number of properties listed for sale on the international site, and demand from investors, measured by the number of enquiries from buyers on TheMoveChannel.com in the 12 months to June 2016.
Combined, the factors give a rounded portrait of a country’s property market, from overall health to its investment potential.
Turkey tops house price table
In terms of house prices, Turkey’s property market is number one in Europe. According to Knight Frank’s Global House Price Index, the country has seen property values soar 15.3 per cent in the year to Q1 2016, ahead of Sweden (12.9 per cent) and Austria (7.6 per cent).
Turkey has enjoyed the strongest house price growth in the world for the last three quarters in a row, fuelled by the country’s rapidly growing population, ongoing infrastructure development and high demand.
Spain leads foreign investment league
Spain is the most popular destination in Europe for foreign buyers, attracting the highest number of enquiries on TheMoveChannel.com in the year to 2016. It is followed by investor favourites Portugal, France, Turkey and Italy. Italy is also the country with the most properties for sale on the site as of June 2016, ahead of England, Spain, France and Portugal.
Quarter-Finals: Battle of the holiday home hotspots
Following the format of the Euro 2016 tournament, the categories were used to determine the top performers from each group, before progressing through the knockout stages of the competition.
In the quarter-finals, Spain slipped past Switzerland through sheer force of buyer demand; England advanced over Portugal due to stronger price growth and a higher inventory of homes for sale; Turkey triumphed over Germany, thanks to its unbeatable house price growth; and France flew past Austria, boosted by its lifestyle appeal.
Semi-Finals: Familiar favourites triumph
While Spain is the most popular destination in Europe on TheMoveChannel.com, England edged past its continental cousin, powered by its stronger house price growth (5.3 per cent versus 2.4 per cent) and a higher number of properties for sale, making it easier for investors to find an opportunity.
France’s house price growth may be low compared to Turkey’s (0.5 per cent versus 15.3 per cent), but with French mortgage rates at record lows, demand for the country’s real estate is hard to match, with France receiving 27 per cent more enquiries in the year to June 2016.
Final: England knocks out France
England’s housing market puts 50 years of hurt to rest with a victory over the Euro 2016 hosts. Due to a chronic lack of supply, England’s property values have been accelerating for some time. In the 12 months to June 2016, prices have risen 5.3 per cent, according to Knight Frank, compared to France’s 0.5 per cent. England also has more properties for sale. France, however, scores a consolation goal with a higer level of buyer interest, primarily because of people searching for property in the UK in general, instead of specifically in England.
TheMoveChannel.com Director Dan Johnson comments: “After 50 years of hurt, football is officially coming home to England’s property market this summer. The country may not be the favourite on the pitch, but TheMoveChannel.com’s real estate tournament highlights just how well England’s property market is performing.
“The UK’s economy is currently one of the most attractive in the world, which helps to fuel interest from overseas, while rising prices are drawing a growing number of investors to regional markets. Our Euro 2016 research also analyses buyer behaviour on Google when hunting for property in the tournament’s winning country, highlighting just how many people are now looking to cities such as Manchester and Liverpool ahead of general searches for houses, property and estate agents in England.”
Notes to Editor
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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