House prices jump GBP6k in one year in the UK. Supply to Meet Demand By 2016.

I believe that US' real estate hit the trough in June 2012. For London, Zone 1 hit trough in Sep 09, the rest hit trough in January 2012. The rest of UK just hit the trough in 1Q2013. The rest of Europe are around the trough.

There is a lot of upside still for UK properties. From the sentenses in bold, we can tell that affordability is at 28%, compared to the average of 38% and 2007's peak of 48%. UK's property prices have at least 36 - 71% up side in the next 3 to 4 years before another bubble blows. Even if I factor in interest rates hikes from 2014 onwards, I believe the up side is around 40 - 50% from 2013 to 2017.

Singapore's affordability is above the 30 year average and the interest rates are at the lowest point. There is obviously very little upside left. Prices will plateau for the next 4 years.


http://www.thisismoney.co.uk/money/mortgageshome/article-2321174/Halifax-House-prices-jump-6-000-year-mortgage-access-improves.html

House prices jump £6,000 in one year as mortgages become easier to get and rates fall

• Prices jump 1.1 per cent in April
• Mortgage approvals up three per cent between February and March
• Typical payments now take up 28 per cent of average incomes compared to 48 per cent at the peak of the property boom in 2007

By Matt West and Simon Lambert
PUBLISHED:08:49 GMT, 8 May 2013| UPDATED:18:31 GMT, 8 May 2013

There was more evidence of an improvement in the UK property market today, as the latest Halifax house price index showed property prices rose 1.1 per cent in April.

Property prices have now risen 2 per cent in the last year meaning the average house is now worth nearly £6,000 more than it was in April 2012.

Right move: House prices have risen two per cent compared to the same time last year

The rise continues the bright start to the year for property prices, which rose 0.5 per cent and 0.4 per cent in February and March respectively. It also completely reverses the 1.7 per cent annual fall in property prices recorded in October last year.

 

On a quarterly basis house prices rose 1.3 per cent in April building slightly on the 1.2 per cent increase seen in March.
Moreover, the number of mortgage approvals – a leading indicator of completed house sales – increased by 3 per cent between February and March following two monthly falls.

LAND REGISTRY ALL SALES: ARE HOUSE PRICES RISING FASTER?

Figures from the Land Registry that track all sales across England and Wales show that house prices rising at a faster pace than the Halifax report. Its data that tracks all property transactions shows the average house price up five per cent annually at at £234,962.
That is 69 per cent higher than the average figure recorded by the Land Registry in its monthly report, which stood at £161,793 in March.
The discrepancy arrives from the fact that the monthly report is based on repeat sales regression, a statistical manipulation that removes new-build properties and those that have not been sold any property that has not sold at least twice since 1995. [The Land Registry statistics are explained here]
That means all those long-term family homes owned for more than 17 years are not included in the monthly figures when sold - they are in the quarterly data.
The Land Registry monthly statistics also do not include repossessions - either in their monthly or quarterly format - something that would create a drag on prices.
The all transactions data is released quarterly and must be paid-for, unlike its free monthly index. The latest all transaction figures above are taken from a report by property investment specialist London Central Portfolio, which has supplied monthly version of the all transaction figures to This is Money.

Mortgage affordability levels were continuing to provide support to property prices, Halifax said.
Typical mortgage payments now take up 28 per cent of average incomes compared to 48 per cent at the peak of the property boom in 2007 and the long term average of 38 per cent of the household incomes.
But Halifax warned property market activity remained subdued by historic standards.
Martin Ellis, housing economist at Halifax said: ‘Weak income growth and continuing below-trend economic growth are likely to remain significant constraints on housing demand during the remainder of 2013.’
However Jonathan Hopper, managing director, property search consultants Garrington, was buoyed by the figures saying: ‘With strong annual, quarterly and monthly figures, the UK property market is once again heading in the right direction.
‘For the country as a whole, the fourth consecutive rise in the annual rate of growth shows the market is once again beginning to fire.’
The Halifax data contrasts sharply with the 0.1 per cent fall in house prices reported by Nationwide last week.
Mortgage availability has increased sharply since the Government launched its Funding for Lending scheme last August, which gives lenders access to cheap finance to help borrowers.
Chancellor George Osborne's new Help to Buy scheme - a £5.4billion package of loans and guarantees - lends buyers up to 20 per cent of the value of a new-build home, interest-free for five years.
Mortgage guarantees also aim to support another £130billion of high loan-to-value mortgages by shifting the risk of default away from lenders on to the state.