Danish house price recovery continues – Danske Bank

Data from index provider Home suggests house prices have risen for a second month in a row, notes Danske Bank.

House prices rose 1.3% through August compared to July. The data suggests that after three months of falling prices, August became the second month in a row to record price gains, according to the methodology used by Home.

Prices are up 0.9% compared to August last year, but compared to the peak of the residential property market in December 2006 prices are still 22.1% lower.

The price of the average dwelling has risen by DKK15,000 (€2,000 to some DKK1.666m (€223,000) over the past year.

Home’s data leads other property market data from Denmark’s statistics agency Danmarks Statistik and the country’s association representing mortgage lenders that issue covered bonds, Realkreditforeningen, by a couple of months, according to Danske Bank figures. This means it may take until the fourth quarter to fully confirm that a property recovery has started in Denmark.

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