Graph and download economic data for All-Transactions House Price Index for Reading, PA (MSA) (ATNHPIUS39740Q) from Q4 1979 to Q4 2024 about Reading, PA, appraisers, HPI, housing, price index, indexes, price, and USA.

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 June 2024, house prices increased by 2.7 percent. According to the Nationwide Building Society, the average house price exceeded 265,000 British pounds in 2022. 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.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2023. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 117.5 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

Commercial property prices in the U.S. increased plateaued in 2023 after a period of rapid growth between 2014 and 2021. In the third quarter of 2023, the commercial property price index equaled 207.61 index points, reflecting a double increase 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 weighed 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 retails reading the pack.

The average price of detached and duplex houses in the biggest cities in Germany varied between approximately 4,500 euros and 10,000 euros per square meter in 2024. Housing was most expensive in Munich, where the square meter price of houses amounted to 9,806 euros. Conversely, Berlin was most affordable, with the square meter price at 4,512 euros. How have German house prices evolved? House prices maintained an upward trend for more than a decade, with 2020 and 2021 experiencing exceptionally high growth rates. In 2021, the nominal year-on-year change exceeded 10 percent. Nevertheless, the second half of 2022 saw the market slowing, with the annual percentage change turning negative for the first time in 12 years. Another way to examine the price growth is through the house price index, which uses 2015 as a base. At its peak in 2022, the German house price index measured about 166 percent, which means that a house bought in 2015 would have appreciated by 66 percent. Is housing affordable in Germany? Housing affordability depends greatly on income: High-income areas often tend to have more expensive housing, which does not necessarily make them unaffordable. The house price to income index measures the development of the cost of housing relative to income. In the first quarter of 2024, the index value stood at 110, meaning that since 2015, house price growth has outpaced income growth by about 10 percent. Compared with the average for the euro area, this value was lower.

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Residential property price statistics from different countries. Contains property price indicators (real series are the nominal price series deflated by the consumer price index), both in levels and in growth rates. Can be used for property market analysis.

Data

This data comes from Bank For International Settlements BIS.

The price of residential property in New Zealand was the highest in the Auckland region in December 2024, with an average sale price of around one million New Zealand dollars. The most populated city in the country, Auckland, has consistently reported higher house prices compared to most other regions. Buying property in New Zealand, particularly in its major cities, is expensive. The nation has one of the highest house-price-to-income ratios in the world. Auckland residential market The residential housing market in Auckland is competitive. Prices have been slowly decreasing; the Auckland region experienced an annual decrease in the average residential house price in December 2024 compared to the same month in the previous year. The price of residential property in Auckland was the highest in the North Shore City district, with an average sale price of around 1.21 million New Zealand dollars. Home financing Due to the rising cost of real estate, an increasing number of New Zealanders who want to own their own property are taking on mortgages. Most residential mortgage lending in New Zealand went to owner-occupier borrowers, followed by first home buyers. In addition to mortgage lending, previously under the KiwiSaver HomeStart initiative, first-home buyers in New Zealand were able to apply to withdraw all or part of their KiwiSaver retirement savings to assist with purchasing a first home. Nonetheless, the scheme was discontinued in May 2024. Furthermore, even with a large initial deposit, it may take decades for many borrowers to pay off their mortgage.

Graph and download economic data for Market Hotness: Page View Count per Property in Reading, PA (CBSA) (LDPEPRYYMSA39740) from Aug 2018 to Feb 2025 about Reading, PA, listing, and USA.

The average Canadian house price declined slightly in 2023, after four years of consecutive growth. The average house price stood at 678,282 Canadian dollars in 2023 and was forecast to reach 746,379 Canadian dollars by 2026. Home sales on the rise The number of housing units sold is also set to increase over the two-year period. From 443,511 units sold, the annual number of home sales in the country is expected to rise to 453,704 in 2025. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, and both are set to witness an increase in sales in 2025. How did Canadians feel about the future development of house prices? When it comes to consumer confidence in the performance of the real estate market in the next six months, Canadian consumers in 2024 mostly expected that the market would go up. A slightly lower share of the respondents believed real estate prices would remain the same.

According to Cognitive Market Research, the global Real Estate Sector market size will be USD 3625.5 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 1450.20 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 1087.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 833.87 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 181.28 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 72.51 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The Commercial real estate is the fastest-growing segment, driven by economic development, urbanization, and a shift toward modern, multi-use spaces

Market Dynamics of Real Estate Sector Market

Key Drivers for Real Estate Sector Market

Urbanization and Population Growth to Boost Market Growth

Urbanization is one of the primary drivers of the real estate sector. As more people migrate from rural areas to urban centers, there is an increasing demand for both residential and commercial properties. The growth of megacities around the world has spurred significant development in infrastructure, housing, and office spaces. This trend is expected to continue as populations in cities grow, creating new opportunities for real estate developers to meet the expanding demand for housing, retail spaces, and industrial areas. Additionally, urbanization leads to an increase in disposable income, further boosting the demand for better housing options and modern amenities. For instance, in October 2021, the Reserve Bank of India (RBI) stated that the benchmark interest rate would remain at 4%, providing a substantial boost to the country's real estate sector. Low house loan interest rates are predicted to fuel housing demand and boost sales by 35-40% during the holiday season of 2021

Economic Expansion and Rising Income Levels to Drive Market Growth

The overall economic expansion in many countries is another key driver for the real estate market. As economies grow, the demand for residential, commercial, and industrial properties rises in tandem. Rising income levels also contribute to increased purchasing power, allowing more people to invest in homes and businesses. Furthermore, a strong economy often leads to higher investor confidence, attracting more capital into the real estate sector. The construction of new infrastructure projects such as highways, airports, and transport systems also fuels further demand for real estate, thereby benefiting the market.

Restraint Factor for the Real Estate Sector Market

High Construction Costs, will Limit Market Growth

One of the significant restraints in the real estate sector is the rising cost of construction materials and labor. The volatility in the prices of raw materials such as steel, cement, and timber, combined with labor shortages, leads to higher construction costs, which can delay projects and reduce profit margins. Additionally, increased costs can make property prices unaffordable for potential buyers, thus slowing the pace of development. This situation is exacerbated by global supply chain disruptions and inflationary pressures, which negatively affect the overall cost structure in real estate development. Developers must navigate these challenges while maintaining competitive pricing to ensure market viability.

Impact of Covid-19 on the Real Estate Sector Market

Covid-19 pandemic significantly impacted the real estate sector, leading to shifts in both demand and operational dynamics. During the early phases of the pandemic, lockdowns and economic uncertainties caused a slowdown in construction activities, delays in project completions, and a decline in property transactions. The residential market experienced a surge in demand for larger homes and properties in suburban areas as people ...

The average house price in the Canadian province of Prince Edward Island stood at 382,659 Canadian dollars in 2023 and was expected to decline in the next two years. By 2025, the average house price is forecast to reach 375,867 Canadian dollars. Compared to other provinces in Canada, Prince Edward Island stood below the national average in terms of house prices. Nevertheless, housing was still significantly more expensive than in Newfoundland and New Brunswick. House prices in Canada Prince Edward Island is one of the most affordable Canadian provinces for buying a house, with prices almost half below the national median in 2023. The national figure is somewhat skewed however by the extremely high cost of housing in British Colombia, and, to a lesser extent, Ontario. A better measure of affordability is the provincial house-price-to-income ratio, which shows Prince Edward Island to be the second most affordable province. Global comparison Canada is one of the most expensive countries in the OECD in terms of house-price-to-income ratio. In 2022, Canada scored higher than the United States, the UK, and Korea. That means that the cost of housing has increased at a much higher rate than the average income in the country.

According to Cognitive Market Research, The Global Property Management Service market was estimated at USD 14.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030. Rising Demands for SaaS-based Property Management Software to Expand Market Penetration

Subscription-based SaaS solutions benefit companies of all sizes. Businesses increasingly use SaaS solutions to optimize operations by automating workflows and removing manual input. Businesses can also lower the cost and complexity of on-premises deployment by installing SaaS solutions. SaaS software assists large multifamily property management organizations integrate several technologies across their portfolio. In addition, the SaaS model is crucial for multi-vendor device compatibility with legacy systems.

For instance, Planon collaborated with AddOnn in March 2021 to combine AddOnn's SaaS solution with Planon's software platform for building and service digitalization to provide end-to-end solutions to end-users worldwide.

(Source:planonsoftware.com/uk/news/planon-and-addonn-launch-partnership-with-introduction-of-mobile-cleaning-solution/)

Employees in real estate organizations rely on up-to-date information to make vital decisions. SaaS systems allow users to access information from any location and device with internet connectivity. A SaaS platform can help property managers link their property solutions with sophisticated payment services for quick and easy transactions.

Evolving Trends of Workforce Mobility to Strengthen Market Share

Many employees nowadays prefer to work from home rather than in offices, corporate headquarters, or a global company branch. This contributes to the need for flexible access to office resources and data. Besides, organizations are using virtual workplaces to reduce their physical infrastructure requirements to a bare minimum, allowing them to be more flexible and use their office space better. Many businesses seek mobility, workplace, and other integrated facility management solutions. This enables property managers to retain productivity while working with a huge crew. These solutions can be used by associated real estate agents & property managers to maintain track of all the properties they manage and the routine maintenance that needs to be performed on them. As a result, the rising trend of workplace mobility is propelling the property management service industry forward.

For instance, Entrata Inc. reported the integration of Alexa with residential buildings in April 2021. This integration would enable property managers to monitor or set up Alexa-enabled devices in each unit, allowing them to create voice-controlled automated homes.

(Source:www.prnewswire.com/news-releases/entrata-enables-alexa-experience-at-scale-with-amazons-alexa-for-residential-301263114.html)

Market Dynamics of Property Management Service

Integration Complexity and Data Security Concerns to Limit Market Growth

One significant restraint property management software services face is the complexity of integrating with existing systems and databases. Many property management companies already have established tools for accounting, tenant communication, maintenance tracking, and more. Implementing new software solutions can lead to compatibility challenges and difficulties in transferring data seamlessly. Furthermore, as property management software handles sensitive information such as tenant details, financial records, and property documents, ensuring robust data security becomes critical. Any breaches or unauthorized access can lead to legal consequences, financial losses, and company reputation damage.

Impact of COVID-19 on the Property Management Service Market

The COVID-19 pandemic significantly impacted the property management service market, introducing shifts in tenant behavior, remote work trends, and economic uncertainties that prompted property managers to adapt their strategies. Lockdowns and travel restrictions decreased demand for short-term rentals, while remote work trends increased the significance of property amenities and flexible leasing options. Property managers incorporated virtual tours, contactless services, and enhanced sanitation measures to address safety concerns. Moreover, the pandemic accelerated the adoption of proptech solutions for remote property monitoring and digital communication, reshap...

According to Cognitive Market Research, the global Real Estate Services market size will be USD 100254.6 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 40101.84 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 30076.38 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 23058.56 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 5012.73 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 2005.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The Residential Type held the highest Real Estate Services market revenue share in 2024.

Market Dynamics of Real Estate Services Market

Key Drivers for Real Estate Services Market

Increasing focus on sustainability and environmentally-friendly buildings to Increase the Demand Globally

The increasing focus on sustainability and environmentally-friendly buildings is driving the Real Estate Services Market as businesses and consumers seek properties that reduce environmental impact and energy costs. Green buildings, which adhere to eco-friendly standards, are becoming more attractive due to their long-term cost savings, health benefits, and regulatory incentives. Real estate services must adapt to this trend by offering expertise in sustainable development, energy efficiency, and green certifications. Additionally, investors are prioritizing environmentally responsible properties to meet corporate social responsibility goals, further fueling demand for specialized real estate services. This shift is creating new opportunities and driving growth in the market as sustainability becomes a key consideration in real estate decisions.

Rising population levels to Propel Market Growth

Rising population levels are driving the Real Estate Services Market by increasing demand for housing, commercial spaces, and infrastructure. As populations grow, particularly in urban areas, the need for residential properties intensifies, leading to more real estate transactions, development projects, and property management needs. Additionally, growing populations stimulate economic activity, creating demand for offices, retail spaces, and industrial properties. This growth translates into higher demand for real estate services such as brokerage, property management, and valuation. Real estate companies also benefit from increased construction and development activity, as they provide essential services for planning, financing, and marketing new projects. Overall, population growth creates sustained demand across all segments of the real estate market, driving the need for professional services.

Restraint Factor for the Real Estate Services Market

High Initial Costs to Limit the Sales

High initial costs are restraining the Real Estate Services Market by making it difficult for potential buyers and investors to enter the market. Purchasing or developing real estate involves significant upfront expenses, including land acquisition, construction, legal fees, and financing costs. These high costs can be a barrier, especially for first-time buyers, small businesses, or developers with limited capital. Additionally, the requirement for substantial down payments and the rising costs of building materials and labor further exacerbate the financial burden. This financial strain reduces the number of transactions and developments, leading to lower demand for real estate services such as brokerage, consulting, and property management. Consequently, high initial costs limit market expansion and restrict the growth of service providers.

Impact of Covid-19 on the Real Estate Services Market

The COVID-19 pandemic significantly impacted the Real Estate Services Market, causing disruptions and accelerating shifts in industry trends. Lockdowns and economic uncertain...

RICS House Price Balance in the United Kingdom decreased to 11 percent in February from 21 percent in January of 2025. This dataset includes a chart with historical data for the United Kingdom RICS House Price Balance.

The Ministry of Justice provides official and private entities, as well as investors, with weekly, monthly, quarterly, semi-annual and annual real estate bulletins.

These bulletins are issued by the Real Estate Registration Department, and they show the real estate price transaction activity in the State.

They are the only official sources of real estate trading movement in the State, the reading and analysis of trading indicators, and their upward or downward movement.

The Ministry is keen that these bulletins accurately express the correct trading movement in the market so as not to lead to wrong investment decisions, whether in individual transactions between citizens, or in financial transactions between traders and businessmen.

As of December 2024, the mean purchase price of housing in Seoul, South Korea, amounted to around 866 million South Korean won. The average price of detached houses amounted to around 1.14 billion won while the price of apartments was about 1.13 billion South Korean won. Apartments in South Korea Among all housing types, apartments are the most expensive, costing more than one billion South Korean won on average. Living in apartments is typical for Seoul, as an increasing number of citizens move towards the city, causing high population density. As of 2022, more than 40 percent of all households were living in apartments, excluding alternative housing, such as officetels or goshiwons. Gangnam Style Based on the average selling price of apartments in Seoul, Gangnam is the most expensive area in Seoul to live in, with an average sales price of around 2.38 billion South Korean won. The area became internationally known due to the viral YouTube hit Gangnam Style by South Korean artist PSY. Since Gangnam is known for its wealthy citizens, the song was inspired by their mannerisms.

Graph and download economic data for Market Hotness: Page View Count per Property in Berks County, PA (LDPEPRMMCOUNTY42011) from Sep 2017 to Feb 2025 about Berks County, PA; Reading; PA; listing; and USA.

In 2023, the Norway Real Estate Market reached a value of USD 64.8 million, and it is projected to surge to USD 84.7 million by 2030.

According to Cognitive Market Research, the global Property Management & Real Estate Software market size will be USD 5369.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.00% 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 2147.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1610.8 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1235.0 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 268.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% 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 107.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
The Commercial property type held the highest Property Management & Real Estate Software market revenue share in 2024.

Market Dynamics of Property Management & Real Estate Software Market

Key Drivers for Property Management & Real Estate Software Market

Population Growth and Urbanization to Increase the Demand Globally

The rapid growth of urban populations worldwide is driving increased demand for residential and commercial properties. As cities expand, the need for efficient property management systems becomes essential to manage the complexities of high-density living and commercial activities. In 2012, 52.5% of the global population lived in urban areas, which increased to 56.9% by 2022. This urban population share is generally higher in developed regions (79.7% in 2022) compared to developing regions (52.3%). In Least Developed Countries (LDCs), only 35.8% of the population resides in urban areas. By 2050, over two-thirds of the world's population is expected to live in urban areas. Governments and the private sector are investing heavily in infrastructure projects, which are boosting real estate development and creating a demand for advanced software solutions to manage the growing portfolio of properties.

Integration with IoT and Smart Technologies to Propel Market Growth

Integrating property management software with IoT and smart technologies allows for remote property monitoring, predictive maintenance, and efficient energy management. For example, sensors in rental units can detect water leaks or temperature changes, providing real-time alerts to property managers. This proactive approach prevents costly damage and enhances tenant comfort. Furthermore, smart thermostats and lighting systems optimize energy use, lowering utility costs and reducing environmental impact.

Restraint Factor for the Property Management & Real Estate Software Market

High Cost of Implementation and Resistance to Adoption to Limit the Sales

High initial costs, including software licensing fees, customization expenses, and staff training, present significant barriers for smaller property management firms. These financial constraints can hinder adoption and limit access to advanced software solutions, affecting operational efficiency and competitiveness in the market. Resistance to changing from traditional manual property management processes also hampers the adoption of property management software. Property managers and stakeholders may find it challenging to transition from paper-based systems, slowing the advancement and widespread implementation of digital solutions in the industry..

Impact of Covid-19 on the Property Management & Real Estate Software Market

The pandemic necessitated remote work and contactless interactions, driving the accelerated adoption of digital property management solutions. Property managers increasingly relied on software for virtual tours, online lease signing, and digital rent collection. Social distancing measures made virtual tours and remote leasing essential, boosting demand for property management software with these features, and enabling property viewings and tenant acquisition without physical interaction. Property management software improved communication bet...