Trends in the global housing market followed a similar narrative to those seen last quarter with price growth converging in the third quarter.
Tagged – ‘global house price index’
Steady price growth is the new norm as the outliers have largely disappeared from our Global House Price Index in recent quarters.
Globally, house prices increased by 3.4% on average in the year to March 2016, but top-performing countries such as Turkey and Australia are seeing their rate of annual price growth slow. Turkey, which leads the annual rankings for the fourth consecutive quarter, has seen its rate of annual growth decline from 18% last quarter to 15%.
The Knight Frank Global House Price Index, which tracks mainstream residential prices, increased by 2.7% in the year to September 2015.
The Global House Price Index recorded its weakest annual growth for three years, rising by just 0.3% in the year to March 2015, but this figures hides strong performances by a number of key countries, including several in Europe.
Knight Frank’s Global House Price Index registered a fall in the final quarter of 2014, its first quarterly decline in over two years.
Global house prices are mirroring the upturn in the global economy. Knight Frank’s Global House Price Index rose by 8.4% in 2013 compared with 4.6% in 2012.