Global house prices shifted marginally in the year to June 2015 rising by only 0.1%.
Tagged – ‘Global’
Luxury residential markets face a diverse range of challenges and opportunities in 2015, but now that stimulus measures have all but disappeared in the US and the UK, all eyes are on Europe and Japan and the extent to which they could halt the tentative global recovery.
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.
Our Prime Global Cities Index, which tracks the movement of luxury residential prices across 33 cities, rose by only 0.2% in the third quarter of 2014, its weakest performance in two years.
More countries recorded a rise in house prices in the year to June than at any point since the start of the global financial crisis but Europe’s mainstream housing market is still lagging behind. Our Global House Price Index presents a mixed picture this quarter.
With the global economy displaying green shoots, buyers – both in mainstream housing markets and second home hotspots – are looking closely at which markets offer real value.
Prime residential prices in key cities worldwide rose by 0.8% on average in the first quarter of 2014, this equates to the Prime Global Cities Index’s slowest rate of growth since Q3 2012.
Knight Frank’s Prime Global Rental Index, which measures the performance of prime residential rents across 17 cities worldwide, rose by 4.8% in 2013.
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.
Prime properties in Dubai are forecast to see the largest price growth in 2014, according to Knight Frank’s recently-released Prime Global Forecast.