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 prices’
Luxury homes in some of the world’s top cities saw a slowdown in price growth in the last quarter as new taxes, elections, referendums and economic jitters took hold.
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.
Steady price growth is the new norm as the outliers have largely disappeared from our Global House Price Index in recent quarters.
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.
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 Global House Price Index increased by 3% in 2015, up from 2.3% in 2014.
The Knight Frank Global House Price Index, which tracks mainstream residential prices, increased by 2.7% in the year to September 2015.
Six of the 11 mainstream residential markets in Asia-Pacific saw house prices increase in Q1 2015 The new Asia Pacific Residential Review looks in detail at the results of our latest Global House Price Index and examines how Asia’s key housing markets are performing and the impact of new housing policy and tax rules.
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.