Competitive mortgages boost European prices

Increased competition in Europe’s mortgage market helped underpin buoyant house price growth in most European countries in spite of higher interest rates, according to two separate studies from the European Mortgage Federation and the Royal Institution of Chartered Surveyors (European Housing Review 2007) published on 5 February 2007.

The RICS European Housing Review 2007 looks at the performance of European housing markets in 2006, analysing trends across the continent in areas such as inflation, building activity, mortgage markets and turnover.

The co-branded EMF/Mercer Oliver Wyman (MOW) Study revealed continuously falling prices charged to customers for a mortgage loan across Europe, as well as a broader product range.

Royal Institution of Chartered Surveyors: RICS European Housing Review 2007 http://www.rics.org/us/knowledge/research/

European Mortgage Federation: Press Release, 2.2.07: Evidence of increasing levels of competition in European mortgage markets http://www.hypo.org/content/default.asp?PageID=219

RICS: European Housing Review (Research Reports) http://www.rics.org/us/knowledge/research/research-reports/

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