Based on panel error correction models for a sample of up to 21 countries this paper analyses the macroeconomic determinants of house prices and rents. In accordance with the existing literature I find significantly positive effects of per capita income and bank lending on house prices, whereas the housing stock per capita and interest rates have negative effects. For rents the results are somewhat more remarkable, indicating that both the housing stock and interest rates have a negative effect. While contradicting conventional economic theory the latter finding might be explained by real estate investors exploiting their pricing power with varying degree depending on the level of real interest rates. Moreover, the estimated impact of interest rates on both house prices and rents varies with structural housing market characteristics. For instance, while interest rates have a more pronounced effect on house prices in countries with more developed mortgage markets, the same does not hold for the effect of interest rates on rents.

House prices in the UK rose dramatically during the coronavirus pandemic, with growth slowing down in 2022 and turning negative in 2023. The year-on-year annual house price change peaked at 14 percent in July 2022. In April 2025, house prices increased by 3.5 percent. As of late 2024, the average house price was close to 290,000 British pounds. Correction in housing prices: a European phenomenon The trend of a growing residential real estate market was not exclusive to the UK during the pandemic. Likewise, many European countries experienced falling prices in 2023. When comparing residential property RHPI (price index in real terms, e.g. corrected for inflation), countries such as Germany, France, Italy, and Spain also saw prices decline. Sweden, one of the countries with the fastest growing residential markets, saw one of the largest declines in prices. How has demand for UK housing changed since the outbreak of the coronavirus? The easing of the lockdown was followed by a dramatic increase in home sales. In November 2020, the number of mortgage approvals reached an all-time high of over 107,000. One of the reasons for the housing boom were the low mortgage rates, allowing home buyers to take out a loan with an interest rate as low as 2.5 percent. That changed as the Bank of England started to raise the base lending rate, resulting in higher borrowing costs and a decline in homebuyer sentiment.

According to Cognitive Market Research, the global Residential Real Estate market size was USD 32651.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 13060.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 9795.48 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 7509.87 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1632.58 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 653.03 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The single-family homes category is the fastest growing segment of the Residential Real Estate industry

Market Dynamics of Residential Real Estate Market

Key Drivers for Residential Real Estate Market

Increasing population drives housing demand to Boost Market Growth

Increasing population drives housing demand by creating a need for more residential spaces to accommodate growing numbers of people. As population rises, particularly in urban and suburban areas, demand for housing expands, fueling the residential real estate market. This is especially evident in countries experiencing rapid urbanization, where people move to cities seeking better job opportunities, education, and lifestyle options, further increasing housing needs. Additionally, population growth often correlates with the formation of new households, such as young families or individuals moving out on their own, intensifying the demand for housing units. In response, developers and investors are motivated to build more residential properties, ranging from single-family homes to multifamily units, contributing to market growth and driving real estate values upward. For instance, The Ashwin Sheth Group aims to broaden its residential and commercial offerings in the Mumbai Metropolitan Region (MMR) of India.

Rising incomes and economic stability to Drive Market Growth

Rising incomes and economic stability drive the residential real estate market by boosting consumers’ purchasing power and confidence in long-term investments like homeownership. As incomes increase, people can afford larger down payments, qualify for higher loan amounts, and manage mortgage payments more comfortably, making home buying a more viable option. Economic stability, characterized by low unemployment rates and steady GDP growth, reinforces this confidence, as individuals feel secure in their financial situations. With greater disposable income, many consumers seek to upgrade to larger homes, buy second properties, or invest in luxury real estate, further fueling demand. This economic backdrop attracts both local and foreign investors, leading to more housing developments, increased property values, and a flourishing residential real estate market.

Restraint Factor for the Residential Real Estate Market

High Property Prices will Limit Market Growth

High property prices restrain the residential real estate market by making homeownership unaffordable for a significant portion of the population. As prices rise, potential buyers, particularly first-time homeowners and low- to middle-income families, may find it challenging to secure adequate financing or meet the necessary down payment requirements. This affordability crisis limits the pool of qualified buyers, leading to slower sales and potential stagnation in market growth. Additionally, high property prices can prompt increased demand for rental properties, shifting focus away from home purchases. In markets where prices escalate rapidly, even affluent buyers may hesitate, fearing potential market corrections. Consequently, elevated property values can create a barrier to entry, ultimately restricting the overall health and vibrancy of the residential real estate market.

Impact of Covid-19 on the Residential Real Estate Market

The COVI...

The average resale house price in Canada was forecast to reach nearly ******* Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach *** million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was *** million Canadian dollars in 2024.

The Commercial Real Estate (CRE) industry is exhibiting significant variations across markets, with persistently high office vacancy rates juxtaposed against thriving prime office spaces. Hard hit by the widespread adoption of remote and hybrid work models, the overall office vacancy rate rose to 20.7% in Q2 2025, up from the pre-pandemic rate of 16.8%. However, leasing volumes for prime office spaces are climbing, providing opportunities for seasoned investors. On the other hand, the multifamily sector is gaining from a prominent move towards renting, primarily driven by housing affordability concerns and changing lifestyle preferences. This has strengthened demand for multifamily properties and opportunities to convert underutilized properties, such as offices, into residential rentals. The industrial real estate segment is also moderating, with the boom in e-commerce and industrial construction activity in 2021 and 2022 moderating more recently. Industry revenue has gained at a CAGR of 1.7% to reach $1.5 trillion through the end of 2025, including a 1.0% climb in 2025 alone. The industry is grappling with multiple challenges, including wide buyer-seller expectation gaps and significant disparities in demand across different geographies and asset types. Despite interest rate cuts in 2024 and 2025, economic uncertainty and labor market weakness have resulted in tighter credit and lending conditions. Because of remote working trends, office delinquency rates swelled to above 14.0% in 2025, leading to a job market increasingly concentrated in certain urban centers. Through the end of 2030, the CRE industry is expected to stabilize as the construction pipeline shrinks, reducing new supply and, in turn, rebalancing supply and demand dynamics. With this adjustment, occupancy rates will likely improve, and rents may gradually climb. The data center segment will witness accelerating demand propelled by the rapid expansion of artificial intelligence, cloud computing and the Internet of Things. Likewise, mixed-use properties are poised to gain popularity, driven by the growing appeal of flexible spaces that accommodate diverse businesses and residents. This new demand, coupled with the retiring baby boomer generation's preference for leisure-centric locales, is expected to push the transformation of traditional shopping plazas towards destination centers, offering continued opportunities for savvy CRE investors. Industry revenue will expand at a CAGR of 1.9% to reach $1.7 trillion in 2030.

The nominal price of residential properties in Germany in the second quarter of 2025 showed an increase of **** percent. This marks a recovery from previous declines, as the annual house price growth had turned negative in the earlier quarters of 2023, where house prices fell by over ** percent. Adjusted for inflation, the increase was noted at **** percent in the second quarter of 2025. This trend could be observed across the major German cities.

The median house price of residential real estate in California has increased notably since 2012. After a brief correction in property prices in 2022, the median price reached ******* U.S. dollars in December 2023.

I revisit Ngai and Tenreyro (2014)'s empirical analysis of seasonal match quality in American Housing Survey (AHS) data. Using 1999 data only, Ngai and Tenreyro show that homes purchased in the summer season are occupied longer and have fewer and less costly renovations soon after purchase, pointing to superior match quality for households who move house during the thicker summer market. However, applying the same methods to other years of the AHS substantially weakens these results. In addition, I document heaping in a key variable, the prior move month, and implement a multiple imputation correction. Ngai and Tenreyro's use of a coarsened measure of duration seems to largely overcome the biases that heaping introduces.

After growing by about ** percent in 2921, Sweden's house prices started to decrease in the second half of 2022. The correction was the strongest in the final quarter of the year. As of the third quarter of 2023, the year-on-year decline was **** percent. When accounting for inflation, the decrease was even higher, at eight percent.

ABSTRACT Purpose: To analyze the real estate sector of a Brazilian metropolis in the recent period of great valuation of the asset in the country and to investigate if there are signs of a speculative bubble in this market. Originality/gap/relevance/implications: This article presents a version of the Case-Shiller Index, which describes the evolution of the relationship between house prices and rental prices and uses models in order to identify if the rise in property prices rests on good economic fundamentals. Key methodological aspects: The approach is quantitative and involves the construction of the price-rent index, unit root test with an instrument that allows structural break with trend (Innovation Outlier Model) and analysis of cointegration using estimates of a Vector Error Correction Model (VECM). Summary of the results: The results do not favor the interpretation that the real estate market rests on solid economic fundamentals. On the contrary, the evolution of the price-rent index and the lack of causal relationship of rents to prices towards long-term equilibrium are suggestive of the existence of a speculative bubble. Key considerations/conclusions: The results support authors who are critical to the efficient market hypothesis (EMH) and suggest that the relative increase in property prices stems only from the belief that their selling price will be higher in the future. It is therefore foreseeable a decrease of real prices of housings, with equity losses for the participants in that market.

This is not going to be an article or Op-Ed about Michael Jordan. Since 2009 we've been in the longest bull-market in history, that's 11 years and counting. However a few metrics like the stock market P/E, the call to put ratio and of course the Shiller P/E suggest a great crash is coming in-between the levels of 1929 and the dot.com bubble. Mean reversion historically is inevitable and the Fed's printing money experiment could end in disaster for the stock market in late 2021 or 2022. You can read Jeremy Grantham's Last Dance article here. You are likely well aware of Michael Burry's predicament as well. It's easier for you just to skim through two related videos on this topic of a stock market crash. Michael Burry's Warning see this YouTube. Jeremy Grantham's Warning See this YouTube. Typically when there is a major event in the world, there is a crash and then a bear market and a recovery that takes many many months. In March, 2020 that's not what we saw since the Fed did some astonishing things that means a liquidity sloth and the risk of a major inflation event. The pandemic represented the quickest decline of at least 30% in the history of the benchmark S&P 500, but the recovery was not correlated to anything but Fed intervention. Since the pandemic clearly isn't disappearing and many sectors such as travel, business travel, tourism and supply chain disruptions appear significantly disrupted - the so-called economic recovery isn't so great. And there's this little problem at the heart of global capitalism today, the stock market just keeps going up. Crashes and corrections typically occur frequently in a normal market. But the Fed liquidity and irresponsible printing of money is creating a scenario where normal behavior isn't occurring on the markets. According to data provided by market analytics firm Yardeni Research, the benchmark index has undergone 38 declines of at least 10% since the beginning of 1950. Since March, 2020 we've barely seen a down month. September, 2020 was flat-ish. The S&P 500 has more than doubled since those lows. Look at the angle of the curve: The S&P 500 was 735 at the low in 2009, so in this bull market alone it has gone up 6x in valuation. That's not a normal cycle and it could mean we are due for an epic correction. I have to agree with the analysts who claim that the long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. There is a complacency, buy-the dip frenzy and general meme environment to what BigTech can do in such an environment. The weight of Apple, Amazon, Alphabet, Microsoft, Facebook, Nvidia and Tesla together in the S&P and Nasdaq is approach a ridiculous weighting. When these stocks are seen both as growth, value and companies with unbeatable moats the entire dynamics of the stock market begin to break down. Check out FANG during the pandemic. BigTech is Seen as Bullet-Proof me valuations and a hysterical speculative behavior leads to even higher highs, even as 2020 offered many younger people an on-ramp into investing for the first time. Some analysts at JP Morgan are even saying that until retail investors stop charging into stocks, markets probably don’t have too much to worry about. Hedge funds with payment for order flows can predict exactly how these retail investors are behaving and monetize them. PFOF might even have to be banned by the SEC. The risk-on market theoretically just keeps going up until the Fed raises interest rates, which could be in 2023! For some context, we're more than 1.4 years removed from the bear-market bottom of the coronavirus crash and haven't had even a 5% correction in nine months. This is the most over-priced the market has likely ever been. At the night of the dot-com bubble the S&P 500 was only 1,400. Today it is 4,500, not so many years after. Clearly something is not quite right if you look at history and the P/E ratios. A market pumped with liquidity produces higher earnings with historically low interest rates, it's an environment where dangerous things can occur. In late 1997, as the S&P 500 passed its previous 1929 peak of 21x earnings, that seemed like a lot, but nothing compared to today. For some context, the S&P 500 Shiller P/E closed last week at 38.58, which is nearly a two-decade high. It's also well over double the average Shiller P/E of 16.84, dating back 151 years. So the stock market is likely around 2x over-valued. Try to think rationally about what this means for valuations today and your favorite stock prices, what should they be in historical terms? The S&P 500 is up 31% in the past year. It will likely hit 5,000 before a correction given the amount of added liquidity to the system and the QE the Fed is using that's like a huge abuse of MMT, or Modern Monetary Theory. This has also lent to bubbles in the housing market, crypto and even commodities like Gold with long-term global GDP meeting many headwinds in the years ahead due to a...

In 2022, house price growth in the UK slowed, after a period of decade-long increase. Nevertheless, in June 2025, prices reached a new peak, with the average home costing ******* British pounds. This figure refers to all property types, including detached, semi-detached, terraced houses, and flats and maisonettes. Compared to other European countries, the UK had some of the highest house prices. How have UK house prices increased over the last 10 years? Property prices have risen dramatically over the past decade. According to the UK house price index, the average house price has grown by over ** percent since 2015. This price development has led to the gap between the cost of buying and renting a property to close. In 2023, buying a three-bedroom house in the UK was no longer more affordable than renting one. Consequently, Brits have become more likely to rent longer and push off making a house purchase until they have saved up enough for a down payment and achieved the financial stability required to make the step. What caused the recent fluctuations in house prices? House prices are affected by multiple factors, such as mortgage rates, supply, and demand on the market. For nearly a decade, the UK experienced uninterrupted house price growth as a result of strong demand and a chronic undersupply. Homebuyers who purchased a property at the peak of the housing boom in July 2022 paid ** percent more compared to what they would have paid a year before. Additionally, 2022 saw the most dramatic increase in mortgage rates in recent history. Between December 2021 and December 2022, the **-year fixed mortgage rate doubled, adding further strain to prospective homebuyers. As a result, the market cooled, leading to a correction in pricing.

The Review Committee on Land Values in the City of Wuppertal publishes an annual land market report based on statistical evaluations of all previous year’s purchase contracts for buildings and undeveloped land in the city area of Wuppertal. Since 2004, the land market report has been titled with the year of its publication. The “Property Market Report 2009” therefore refers to the purchase case data of the year 2008 and thus reflects the average conditions of the real estate market in 2008. The land market report makes the Wuppertal real estate market transparent and comprehensible, including for valuation experts and private individuals who want to buy or sell real estate. It informs about sales, price developments and price levels in the individual sub-markets. In addition, it contains the so-called “other data required for valuation” according to §193 Building Code (e.g. index series, real estate interest rates and market adjustment factors) as well as information on commercial rents. Since 1.1.2016 the digital issues of the real estate market reports have been under an open data license, as of 1.3.2020 the license was changed to the data license Deutschland — Zero — Version 2.0 (dl-zero-de/2.0). The Wuppertal Review Committee therefore makes all land market reports available for download under dl-zero-de/2.0 since reference year 2000, even if different conditions of use are listed in the imprint of the respective documents, valid at the time of publication. The Review Committee on Land Values in the City of Wuppertal publishes an annual land market report based on statistical evaluations of all previous year’s purchase contracts for buildings and undeveloped land in the city area of Wuppertal. Since 2004, the land market report has been titled with the year of its publication. The “Property Market Report 2009” therefore refers to the purchase case data of the year 2008 and thus reflects the average conditions of the real estate market in 2008. The land market report makes the Wuppertal real estate market transparent and comprehensible, including for valuation experts and private individuals who want to buy or sell real estate. It informs about sales, price developments and price levels in the individual sub-markets. In addition, it contains the so-called “other data required for valuation” according to §193 Building Code (e.g. index series, real estate interest rates and market adjustment factors) as well as information on commercial rents. Since 1.1.2016 the digital issues of the real estate market reports have been under an open data license, as of 1.3.2020 the license was changed to the data license Deutschland — Zero — Version 2.0 (dl-zero-de/2.0). The Wuppertal Review Committee therefore makes all land market reports available for download under dl-zero-de/2.0 since reference year 2000, even if different conditions of use are listed in the imprint of the respective documents, valid at the time of publication.

Carbon-Based Rent Adjustment Platform Market Outlook

According to our latest research, the Global Carbon-Based Rent Adjustment Platform market size was valued at $1.2 billion in 2024 and is projected to reach $5.8 billion by 2033, expanding at a CAGR of 18.7% during 2024–2033. One of the major factors fueling the growth of the carbon-based rent adjustment platform market globally is the increasing regulatory pressure and incentives for decarbonization in the real estate sector. As governments and regulatory bodies worldwide introduce stricter emissions standards and carbon pricing mechanisms, property owners and managers are seeking advanced digital solutions to align rent adjustments with carbon performance metrics. This shift not only ensures compliance but also creates new opportunities for value-driven leasing models that prioritize sustainability, transparency, and operational efficiency in property management.

Regional Outlook

North America holds the largest share of the global carbon-based rent adjustment platform market, accounting for over 38% of the total market value in 2024. This dominance is attributed to a mature real estate market, early adoption of digital property management solutions, and robust regulatory frameworks promoting carbon neutrality. The United States, in particular, has seen a surge in demand for carbon-driven leasing models as both federal and state-level policies incentivize sustainable building practices. Leading cities such as New York, San Francisco, and Toronto have implemented stringent emissions regulations that require landlords to track, report, and reduce property-related carbon footprints, driving widespread adoption of these platforms. The presence of numerous technology innovators and a strong ecosystem of proptech startups further accelerates market growth in the region.

Asia Pacific is the fastest-growing region in the carbon-based rent adjustment platform market, expected to register a remarkable CAGR of 23.4% from 2024 to 2033. Rapid urbanization, a burgeoning middle class, and ambitious climate action plans set by countries such as China, Japan, South Korea, and Australia are key growth drivers. Significant investments in smart city infrastructure and green building initiatives have created fertile ground for the adoption of carbon-based rent adjustment platforms. Additionally, government-led incentives for sustainable real estate development and increasing awareness among property managers and tenants regarding carbon footprints are boosting market penetration. The region’s dynamic real estate market and growing digital transformation efforts are expected to further accelerate uptake in the coming years.

Emerging economies in Latin America, the Middle East, and Africa are witnessing gradual adoption of carbon-based rent adjustment platforms, albeit at a slower pace due to infrastructural challenges and limited regulatory enforcement. However, localized demand is rising as multinational corporations and international investors bring ESG (Environmental, Social, and Governance) standards into these markets. In countries such as Brazil, South Africa, and the UAE, early adopters are leveraging these platforms to differentiate properties and attract sustainability-focused tenants. Nonetheless, challenges such as inconsistent policy implementation, limited digital infrastructure, and lower awareness among local landlords and tenants pose obstacles to widespread adoption. As policy frameworks mature and awareness spreads, these regions are expected to contribute increasingly to the global market over the forecast period.

Report Scope

Real Estate Photo Editing Service Market was valued at USD 1.2 Billion in 2024 and is projected to reach USD 2.42 Billion by 2032, growing at a CAGR of 9.2% from 2026 to 2032.Global Real Estate Photo Editing Service Market DriversThe market drivers for the real estate photo editing service market can be influenced by various factors. These may include:Increased Digitalization in Real Estate Transactions: Greater dependence on online platforms for property searches is leading to higher demand for digitally enhanced property visuals through specialized image editing processes.Growth of E-Commerce and Property Listing Platforms: Rising usage of digital property portals and listing websites is estimated to result in stronger demand for image optimization services aimed at enhancing visual appeal and engagement.Rising Expectations for Visual Presentation: Consumer preferences for high-quality and visually consistent real estate content are projected to drive the adoption of advanced editing tools across residential and commercial listings.

This study examines the dynamic short- and long-run causal relationship between South African real house prices and key macroeconomic fundamentals (gross domestic product(GDP), mortgage rate, exchange rate-USDZAR, affordability, household debt to disposable income, unemployment rate, share prices (JSE ALL share index), foreign direct investment, and producer price index) over the period 2000Q1-2019Q4. The study uses a vector error correction model (VECM) to estimate the relationships while accounting for endogeneity and reverse causality. Although, there seems to be a significant association(both short and long-run) between house prices and all macroeconomic fundamental variables, GDP and producer price index appear to have the greatest impact. Further, our results suggest that any short-term disequilibrium in house prices always self-corrects in the long-run.

Correction coefficients are used to ensure equality of purchasing power of salaries of EU officials in the different duty stations. They are calculated as the ratio between the “economic parity” and the exchange rate to the Euro (where applicable). They operate as a percentage adjustment to remuneration expressed in local currency.

The method used to establish economic parities is to compare the price of a basket of goods and services purchased by the average retired international official in Belgium with the price of an equivalent basket of goods and services purchased by the average retired international official in each of the other countries.

The rent paid for an apartment or house, due to its high weight in the total household expenditure structure, plays a significant role in determining the overall correction coefficient.

Consequently, specific rent surveys are carried out annually in cooperation with relevant real estate agencies. The information obtained, and that derived from similar surveys in previous years, is used to determine the difference in rental prices between Brussels and each of the other locations where the survey is carried out, in rental prices for the same type of dwelling.

The scope of these surveys is to compare the average market rent for some specific kinds of dwellings in some pre-specified representative areas of Brussels with similar dwellings in similar (representative and comparable) areas in other EU capitals and duty stations.

The estate agency rent surveys (EARS) are organised jointly by Eurostat, the International Service for Remunerations and Pensions (ISRP) of the Co-ordinated Organisations and national statistical institutes (NSI) in each duty station, including Brussels, with the collaboration of estate agents in the duty stations concerned.

The work is done in accordance with a methodology approved by the Expert Working Group on Articles 64 & 65 of the Staff Regulations.
Whilst this rent information is collected for a specific purpose, according to a specific methodology, it may also be relevant for other purposes.

In response to the 2020 COVID-19 pandemic and its anticipated effects on the residential real estate market, the Cook County Assessor will adjust residential assessments. This data can be used to replicate residential COVID adjustments. Code can be located on GitLab. See data notes for link. NOTE that the 'adjusted values' in this data will not necessarily be consistent with each individual PIN's final assessment. To get the final assessment for an individual PIN, please visit www.cookcountyassessor.com.

Splitgraph serves as an HTTP API that lets you run SQL queries directly on this data to power Web applications. For example:

See the Splitgraph documentation for more information.

Commercial property prices in the U.S. plateaued in 2025 after declining in 2023. Between 2014 and 2021, commercial real estate prices nearly doubled, with the index reaching ***** index points. Following a slowdown in the market, the index declined, falling to ****** index points in the second quarter of 2025. Despite the correction, this indicated an increase of almost ** percent in prices since 2010, which was the baseline year for the index. How have prices of different property types developed over the past years? After more than a decade of uninterrupted growth, office real estate prices started to decline in 2022, reflecting a decline in occupier demand and a tougher lending environment. Industrial real estate prices, which have grown rapidly over the past few years, also experienced a correction in late 2022. Retail real estate prices displayed most resilience amid the difficult economic environment, with the equal-weighted repeat sales index remaining stable. How much is invested in new commercial properties? The value of commercial real estate construction has been on the rise since 2010 in the United States. This trend mirrors the recovery seen across all economic sectors after the 2007-2009 recession. However, investment volumes in commercial property vary by type, with private office space, warehouses, and retail leading the pack.

After declining slightly in the third quarter of 2023, the value of the Halifax standardized house price increased in the fourth quarter of the year. The average house price stood at approximately 287,000 British pounds in December, up from approximately 279,000 British pounds in September 2023. The correction is a result of the combination of the rising interest rates, dramatic house price increase since the beginning of the coronavirus pandemic, and the low housing inventory.