Index strengthens at the slowest pace since the start of 2016
7 December 2017, Singapore – Knight Frank, the independent global property consultancy, today launches the Global House Price Index Q3 2017. The index monitors the performance of mainstream residential markets in 55 countries across the world, 11 of which are from Asia-Pacific.
Results for Q3 2017:
- The Knight Frank Global House Price Index increased by 5.1% in the year to September 2017, the slowest since the start of 2016
- Prices increased year-on-year in 88% of the countries tracked but almost half saw their rate of growth decline compared with last quarter
- Iceland leads the index for the fourth consecutive quarter but its rate of growth has slowed
- European housing markets averaged 5.6% price growth in the year to September, up from 2.3% three years ago
- Annual residential price growth slowed in six of the 11 markets tracked in Asia Pacific in Q3 2017 compared with previous quarter.
- China has slipped from 12th to 19th position in our rankings as tighter macroprudential regulations bite
Kate Everett-Allen, Head of International Residential Research, says: “Thirteen of the 15 strongest-performing housing markets around the world registered a slowdown in their rate of annual growth in the year to September.”
Nicholas Holt, Head of Research for Asia-Pacific, says, “Looking forward, expectations of rising interest rates in a number of markets will continue to lead to some downward pressure on pricing, although with regional economic growth remaining strong, underlying fundamentals in many markets remain robust.”