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HONG KONG, Aug. 19, 2011 /PRNewswire-Asia/ -- The latest inflation figures are released in Hong Kong next week, as the Census and Statistics Department publishes the July data on Monday 22nd. Also expected in the coming week are the results of the most recent Residential Mortgage Survey from the Hong Kong Monetary Authority (HKMA). The residential mortgage survey results for June showed the number of loans approved fell by over 14% on the month, from 12,493 in May to 10,726; the lowest level since March 2009. Loan approvals for purchase in the primary market fell by over 50% on the month, while in the secondary market the decline was by 20%.
UK farmland market remains buoyant
While recent RICS surveys of both the UK housing and commercial property markets remain a little downbeat at the headline level and highlight a significant regional divide, the latest Rural Land Market Survey (RLMS) tells a rather different story. Released this week, the RLMS shows that farmland prices climbed to a new record high during the first half of 2011 and that most parts of the country experienced further increases over the period. Indeed the strongest gains for bare farmland were recorded in the North East, where prices on average jumped by 14%.
Swedish house price outlook softening
Swedish Q2 house price data is due Tuesday 23rd. In Q1, prices declined for the first time in over two years (by 1.1%), but were still 13% above their Q1 2009 trough. At least two factors account for the change in trend; tighter monetary policy and stricter mortgage lending regulations. Data on euro area mortgage lending (July), which accounts for 21% of total lending, is due Friday 26th as part of the ECB's M3 release. In June, it increased by 0.3%, but the annual growth slowed from 5.1% to 4.5%. Looking forward, RICS expects Swedish house prices to continue falling through the remainder of this year.
Mortgage lending surges ahead in Brazil
The coming week sees the release of the Central Bank of Brazil's (BCB) monthly credit report (July) on Wednesday 24th. Credit expansion has been the main driver of Brazilian growth post-recession, with lending by state owned banks playing as big a role as the private sector. Whilst most developed countries are witnessing de-leveraging in both corporate and household sectors, credit has ballooned during the same period in Brazil.
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