Trends in the global housing market followed a similar narrative to those seen last quarter with price growth converging in the third quarter.
Tagged – ‘China house prices’
Urban house prices across 150 key cities around the world increased by 5.5% on average in the year to June 2016, according to the Knight Frank Global Residential Cities Index.
The Global Residential Cities Index, which tracks house prices across 150 cities worldwide using data from official sources, increased by 4.5% in the year to March 2016.
Our new Global Residential Cities Index takes our Global House Price Index one step further, tracking mainstream residential prices on a city rather than country basis.
The Global House Price Index increased by 3% in 2015, up from 2.3% in 2014.
Due to the sustained slump in the residential property market during 2014 China’s central government has been forced to adopt several stimulus measures in order to accelerate residential sales.
With price growth in Dubai and much of Asia slowing, the Knight Frank Global House Price Index has lost its main engines of growth resulting in a rise of just 0.1% in the third quarter of 2014.