Quarterly Review
The Quarterly Review Data Hub shows data on mortgage and housing market developments on a more frequent, quarterly, and annual basis. This data set is based on a country sample covering around 95% of the total outstanding mortgage lending in the EU27 and the UK.
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European Mortgage Markets Quarterly Review - Q1 2020
The first quarter of the year has been characterised worldwide by the outbreak of COVID-19, which has imposed an unprecedented challenge for all nations around the globe. The COVID-19 pandemic initiated a world health crisis, obliging most European countries to take lockdown like measures and obliging populations to self-insolate with significant restrictions on movement. All of these measures together quickly impacted the economy which was essentially put into hibernation. In a matter of days the COVID-19 outbreak led not only to a world health crisis but also a new economic and social crisis. Forecasts indicate this will be the deepest economic recession in the history of the EU. This pandemic is furthermore symmetrical, affecting and damaging all countries and economic sectors.
European Mortgage Markets Quarterly Review - Q4 2019
The European economy continued to show resilience in the second half of 2019 thanks to its domestic drivers. GDP growth saw a virtual halt in Q4 2019 with an increase q-o-q of only 0.1%, the lowest since early 2013 in contrast with the relatively robust performance of the previous three quarters. Economic activity remains dampened by the high level of uncertainty linked to trade policy at global level. At domestic level, domestic demand, in particular private consumption, was the driving force of growth, whereas investment in the Euro area lost momentum, although its rate remained above GDP growth in the first three quarters.
European Mortgage Markets Quarterly Review - Q3 2019
In the third quarter of 2019 GDP rose by 1.4% in the EU 28 on a yearly basis (y-o-y) and by 1.2% quarter on quarter (q-o-q). Domestic demand remained resilient against international headwinds stemming from political and economic tensions. Aggregate unemployment remained stable at around 6.3% at EU level in Q3, similar to Q2, after nearly six years of continuous decrease.
European Mortgage Markets Quarterly Review – Q2 2019
During the second quarter of the year, the main macroeconomic indicators at European level continued growing on a yearly and quarterly basis. Therefore, despite the slow down that started already last year, European GDP experienced a positive evolution together with the reduction of unemployment levels.
European Mortgage Markets Quarterly Review – Q1 2019
In the first quarter of 2019, economic growth stabilised but it has remained weak and has continued with the loss of momentum that started the previous year. Nevertheless, the main macroeconomic indicators at an aggregate level still remained positive. The GDP for the Eurozone slightly grew on quarterly basis as well as on yearly basis and unemployment has further decreased following expectations.
European Mortgage Markets Quarterly Review – Q4 2018
The year 2018 was characterised by a moderately positive evolution of the main macroeconomic indicators. Despite the loss of momentum that was especially relevant during the first half of the year, the eurozone is growing. The real GDP of the Eurozone moderately rose by almost 2% and the forecasts of the European Commission indicate that this is going to be the trend in the upcoming years. In the same way, the unemployment rate experienced a slight decrease, being the average of the Euro area 8.4% in 2018, a figure that is expected to be even lower in 2019 and 2020.
European Mortgage Markets Quarterly Review – Q3 2018
For Q3 2018, the structure of the Quarterly Review has been slightly updated. Specifically, the Housing Market section has been subdivided into two categories, one on housing supply and the other on house prices. With this new approach, we hope to offer a broader overview of the housing and mortgage markets in Europe.
European Mortgage Markets Quarterly Review – Q2 2018
In this second quarter of the year, the economic momentum in the European Union continued with positive GDP growth, falling unemployment rates – which are now at pre-crisis levels or just slightly above them, and expanding private consumption
European Mortgage Markets Quarterly Review – Q1 2018
The first quarter of 2018 continues the trend of growth in the EU’s overall mortgage and housing markets, aided by mortgage interest rates remaining close to their all-time floors. Annual house price inflation remains positive across the EU with all countries reporting increasing prices, typically greater than 5% as consumer confidence remains strong, supported by positive economic fundamentals.
European Mortgage Markets Quarterly Review - Q4 2017
At the end of 2017, the economic momentum in the European Union (EU) continued with positive GDP growth, falling unemployment rates and expanding private consumption. In an environment of improving economic fundamentals, coupled with generally very low interest rates, the overall mortgage market in the EU is expanding, notwithstanding the overall challenging geopolitical international and domestic tensions. Almost across the board house prices are stable/increasing year-on-year (y-o-y) and, in some jurisdictions, they are increasing by double-digits, while in others there are clear signs of a shift towards a deceleration in house prices. In this generally positive market outlook, a growing number of countries are considering the introduction of or have already introduced macroprudential recom-mendations to cool-off the more heated market segments, either by introducing more stringent LTV caps or by imposing amortisation schemes for certain types of mortgage contracts. The widespread imbalance between demand and supply, especially in the high-growth areas of the continent, is likely to persist over the coming quarters, although construction figures are picking up. Of course, national heterogeneities are still present and these must be analysed in more depth.