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 - 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.
European Mortgage Markets Quarterly Review - Q3 2017
<div>In Q3 2017 the economic momentum in the European Union 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.</div> <div>In this generally positive market outlook a growing number of countries are considering the introduction of or have already introduced macroprudential recommendations 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 more in depth.</div>
European Mortgage Markets Quarterly Review - Q2 2017
In Q2 2017 the economic momentum in the European Union 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. Almost across the board house prices are stable/increasing yearon-year (y-o-y) and, in some jurisdictions, they are increasing by double-digits. In this generally positive market outlook a growing number of countries are considering the introduction of or have already introduced macroprudential recommendations to cool-off the more heated market segments. 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 have to be analysed more in depth.
European Mortgage Markets Quarterly Review - Q1 2017
The first quarter of 2017 continued on the same path seen in 2016, namely increasing mortgage markets coupled with a general increase in house prices over the year and with persistent low, though in some jurisdictions and for some products, timidly increasing interest rates. These dynamics are underpinned by a widespread improvement of the economic performance of the EU whose GDP in Q1 2017 increased by 2.4% with respect to Q1 2016, coupled with an ongoing diminishing unemployment rate and a general increase in consumer confidence.
European Mortgage Markets Quarterly Review – Q4 2016
After the British decision to leave the EU, the election of Mr Trump as the 45th President of the United States was a further element of an unpredictable 2016. Nevertheless, the housing and mortgage market in the (for the time being) EU28 shows a remarkable resilience, fostered by an ongoing expansive monetary policy, together with a macro-economic upswing and a general widespread improvement of the economic conditions. In 2016, for the first time since 2007, all EU Member States depicted a positive GDP growth. Moreover, notwithstanding the growth of the construction industry in several countries, the well-known excessive demand for housing, especially in the most thriving regions of the European continent, pushed up house prices.
European Mortgage Markets Quarterly Review - Q3 2016
In light of mounting political uncertainty both within and outside Europe, the third quarter of 2016 has provided an aggregate housing and mortgage market picture which is in line with the previous quarters. In the EU house prices continued their upwards trend, on an aggregate level, while the outstanding mortgage lending figure in our sample, after having reached the peak at the end of 2015, slightly contracted by 1.9% since then. Interest rates continued their downward path as well and the unweighted average rate of our sample dropped by 19 bps year-on-year (y-o-y) and lies for the first time below 2.5%. In this latest quarterly review a number of updates and new charts have been added.
European Mortgage Markets Quarterly Review - Q2 2016
The second quarter of 2016 ended with the decision of the UK to sever its ties with the rest of the EU, thus opening a period of potentially high political and economic uncertainty throughout the continent, which will manifest its effects on mortgage and housing markets in the months and years to come. For the time being, house prices in the EU continue their upwards trend, on an aggregate level.
European Mortgage Markets Quarterly Review - Q1 2016
The first quarter of 2016 showed that in the EU outstanding mortgage lending increased while interest rates continued to decrease, although at a decelerating pace with respect to the previous quarters. Considering house prices, the overall trend was increasing, though heterogeneous among the different countries.
European Mortgage Markets Quarterly Review - Q4 2015
The last quarter of 2015 depicts a similar aggregate situation those of the previous quarters: overall recovery of gross lending figures due to improving economic environment; generally increasing or stable house prices; and historically low interest rates as a reflection of the expansionary monetary policies of the European Central Bank (ECB) et al.
European Mortgage Markets Quarterly Review – Q3 2015
The figures of this quarter still depict a picture of aggregate, though decelerating, expansion on a yearly basis of the mortgage market, with low interest rates and generally increasing house prices. However, some signs of change can be seen in the mortgage interest rate level, which in some countries on the continent started to invert its decreasing tendency, even before the Federal Reserve’s December 2015 decision to increase the reference rates for the first time in nearly 10 years. Housing prices have not inverted their generally upwards trend in line with the well-known supply/demand imbalances, the stickiness of the housing supply and the massive demographic changes due to the migratory influx.