Real estate prices in several countries on the rise again: Scotiabank

Published on October 1, 2009; Published on July 1, 2010
The Canadian Press ~ The News

Topics :: Scotiabank , Bank of Nova Scotia , Canada , Australia , United States

A new study by Bank of Nova Scotia says there are signs of a tentative but growing stabilization in the housing markets of several developed countries around the world.
Canada is among the countries where home prices increased in the second quarter, along with Australia and the United States.
House prices continued to fall in the United Kingdom, France, Spain and other countries but Scotiabank says the pace of decline slowed.
The bank says the firmer house pricing is evidence of growing confidence in the sustainability of a global economic recovery that appears to be under way.
Scotiabank economist Adrienne Warren cautions, however, that unemployment remains high and will be slow to decline so buyers will remain cautious.

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