Global House Prices Starting To Slow

Average house prices in 150 global cities tracked rose by 6.1% in the year to the end of the second quarter of 2017, according to property experts.

Although many cities are still showing double-digit growth, the Knight Frank Residential Cities Index slipped 0.8% down from 6.9% in the first quarter, the first fall since the beginning of 2016.

Although nine cities are still posting growth of more than 20%, this has fallen from 12 to nine places and with fewer Chinese cities. However, China still has 14 cities with price growth of more than 10% despite the government putting a brake on the market with cooling measures.

Toronto, Canada, tops the rankings with home values surging by almost 30%. A new entrant to the top 10 is Izmir, Turkey, with prices rising by 20.2%.

“This quarter we have seen some new contenders rise up the rankings, most notably some key Indian cities,” said the firm’s international researcher Kate Everett-Allen.

“A year ago, the 10 Indian cities tracked by our index averaged 3% annual price growth, today this figure has jumped to 12%.”

Countries with most cities with 10%+ price rises
RankCityCountryPrice Rise
1TorontoCanada29.3%
2KochiIndia27.3%
3HamiltonCanada25.6%
4ReykjavikIceland25.0%
5WuxiChina23.0%
6Hong KongChina21.5%
7ZhengzhouChina20.2%
8IzmirTurkey20.2%
9ChangshuChina18.5%
10WellingtonNew Zealand18.1%
Top 10 cities for annual house price increases Q2 2017
RankCityCountryPrice Rise
141PerthAustralia-3.1%
142RomeItaly-3.6%
143PalermoItaly-3.7%
144NaplesItaly-4.2%
145DarwinAustralia-4.9%
146JohannesburgSouth Africa-5.1%
147GenoaItaly-6.1%
148ValenciaSpain-6.9%
149SkopjeMacedonia-7.0%
150AberdeenUnited Kingdom-9.5%
Bottom 10 cities for annual house price decreases Q2 2017
RankCountryCities with 10%+ price rises
1China14
2India11
3Canada4
4Netherlands4
5Australia3
6Turkey2

Source: Knight Frank Global Residential Cities Index

Free Pension Transfer Guide for Our Readers

Expat Pension Transfers Guide

iExpats.com expert writers have created a simple guide to Expat Pension Transfers just for you.

Find out how you could save tax, increase growth and investment opportunities with this simple, no-nonsense guide that will introduce QROPS, SIPPs and QNUPS options and talk through the pros and cons. Download the free guide by following the link below

Global House Prices Starting To Slow
Rate this post

Leave a Reply