1. Global Housing Markets: The Macro and Micro Picture
Hites Ahir
International Monetary Fund
February 17, 2016
Presentation for the 2016 Annual Meeting of International Housing Association
THE VIEWS EXPRESSED IN THIS PRESENTATION ARE THOSE OF THE PRESENTERS AND SHOULD NOT BE ASCRIBED TO THE IMF OR IMF POLICY.

2. What is the picture at the global level
What is the picture at the global level? Several indicators point to an upward trend.

3. Global House Price Index

4. The share of countries with positive growth in real house prices

5. The share of countries with positive growth in real house prices

6. House prices across countries

7. Credit growth across countries

8. House price-to-income ratio

9. House price-to-rent ratio

10. 2. What is the picture at the regional level
2. What is the picture at the regional level? Compared to advanced economies, house prices in some emerging markets are slowing down, but unclear if there is a shift in momentum.

11. Advanced economies: the share of countries with positive growth in real house prices

12. Emerging economies: the share of countries with positive growth in real house prices

13. Real house prices in advanced economies

14. Real house prices in emerging economies

15. Real house price developments in the BRICs

16. 3. What is the picture at the sub-national level?
Contrasting developments at the national versus sub-national levels

17. House prices in the Netherlands and Amsterdam

18. House prices in New Zealand and Auckland

19. House prices across cities in Australia

20. House prices across cities in UAE

21. Thank you…