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Housing market in Finland. February 2014. Housing prices per earnings index. Housing price index by quarter. 1983=100. Average home loans (of households who currently have a home loan). €. Source: Federation of Finnish Financial Services: Saving and borrowing in Finland, Spring 2013. - PowerPoint PPT Presentation
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1
HOUSING MARKET IN FINLAND
August 2015
2
HOUSING PRICES PER EARNINGS INDEX
60
70
80
90
100
110
120
130
140
150
160
1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014
Finland (excluding Greater Helsinki)Greater HelsinkiFinland
Lähde: Macrobond/Tilastokeskus
2000=100
3
HOUSING PRICE INDEX BY QUARTER
70
80
90
100
110
120
130
140
150
160
170
180
190
200
1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014
Helsinki-region Whole country Rest of Finland
Source: Macrobond/Statistics Finland
1983=100
4
AVERAGE HOME LOANS (OF HOUSEHOLDS WHO CURRENTLY HAVE A HOME LOAN)
€
Source: Federation of Finnish Financial Services
5Source: Federation of Finnish Financial Services: Saving and borrowing in Finland, Spring 2014
HOME LOAN REPAYMENT PERIOD IN 2014
% of home loans taken during the last two years Average repayment periods :
2014: 16.9 years
2013: 17.9 years
2012: 17.4 years
2011: 17.8 years
2010: 17.4 years
2009: 18.5 years
2008: 18.8 years
1998: 11 years
6
HOUSING LOANS GRANTED TO HOUSEHOLDS BY CREDIT INSTITUTIONS
0
10
20
30
40
50
60
70
80
90
100
0
1
2
3
4
5
6
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Housing loans, stock (left hand scale) Average interest rate (right-hand scale)
Source: Macrobond/Bank of Finlnad
€bn %
7
STARTS ON NEW DWELLINGS
0
10
20
30
40
50
60
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012
Row houses Apartment houses Detached houses
Lähde: Macrobond/Statistics Finland
Thousand dwellings
8
LENDING BY FINNISH CREDIT INSTITUTIONS
Source: Bank of Finland
9
NEW DRAWDOWNS OF HOUSING LOANS PER MONTH
0,0
0,3
0,5
0,8
1,0
1,3
1,5
1,8
2,0
1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014
Housing Loans, New Drawdowns
Source: Macrobond/Bank of Finland
Bn€ (12 months centered moving average)
10
NEW HOUSING LOANS BY INTEREST RATE LINKAGE
11
AVERAGE INTEREST RATES OF HOUSING LOANS IN FINLAND
0,0
2,5
5,0
7,5
10,0
12,5
15,0
1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014
Average interest rate of new housing loan drawdowns
Average interest rate on housing loan portfolio
Source: Macrobond/Bank of Finland
%
12
INTEREST RATE ON HOUSING LOANS, NEW BUSINESS
1,0
1,5
2,0
2,5
3,0
3,5
4,0
4,5
5,0
1,38
1,901,99
2,262,15
2,752,89
2010 2011 2012 2013 2014 2015
Finland Austria Germany Euro Area France Italy Netherlands
Source: Macrobond/ECB
