Chinese House Prices Go Through The Roof

Average house prices tracked in 150 cities around the world climbed 6.9% in the year to March 31, 2017, says a new study.

But an astonishing 60 cities all posted better than average returns.

China led the way once again for the third quarter running, with eight cities in the top 10 returning growth of more than 20% in the year.

Another five Chinese cities performed at between 10% and 20% increases, while another four declared rises of more than 5%, according to property consultants Knight Frank.

Wuxi, near Shanghai topped the charts with a massive hike of 31.7%.

Top performing cities

The top performing non-Chinese city was Toronto, Canada, which ranked fourth with a 24.8% increase in home prices.

Other non-Chinese cities in the top 10 were Hamilton, Canada (7th 21.5%); Oslo and Norway (10 21%).

“Tighter regulations in the form of higher loan-to-value ratios and limits on second home purchases are now filtering through into China’s house price indicators. The average price change across all 20 Chinese cities tracked by our index declined from 19.2% last quarter to 15.9% this quarter,” said Knight Frank researcher Kate Everett-Allen.

The Netherlands is emerging as a key for rising house prices. The four largest Dutch cities – Amsterdam, Rotterdam, Utrecht and The Hague – all saw prices go up by more than 10% in the year to March 2017.

Global residential cities Index Q1 2017 – House prices rises of 10% or more

RankCityCountry12-month change
1WuxiChina31.70%
2NanjingChina28.80%
3ZhengzhouChina25.40%
4TorontoCanada24.80%
5HangzhouChina23.00%
6GuangzhouChina22.90%
7HamiltonCanada21.50%
8TianjinChina21.50%
9WuhanChina21.20%
10OsloNorway21.00%
11WellingtonNew Zealand20.60%
12BeijingChina20.50%
13ShanghaiChina19.70%
14ChangshaChina19.60%
15LucknowIndia19.30%
16IzmirTurkey19.20%
17HongHong Kong18.60%
18ReykjavikIceland18.10%
19JinanChina18.00%
20VictoriaCanada18.00%
21BudapestHungary17.10%
22AmsterdamNetherlands15.70%
23SydneyAustralia14.40%
24MelbourneAustralia13.40%
25AucklandNew Zealand13.40%
26QingdaoChina13.10%
27MumbaiIndia12.90%
28UtrechtNetherlands12.40%
29SeattleUSA12.20%
30VancouverCanada12.20%
31GothenburgSweden12.20%
32IstanbulTurkey12.20%
33RotterdamNetherlands11.40%
34HobartAustralia11.30%
35HagueNetherlands10.80%
36ChennaiIndia10.50%
37HaifaIsrael10.50%
38BogotaColombia10.30%
39AnkaraTurkey10.10%
40NingboChina10.10%

Global residential cities Index Q1 2017 –  House prices falling

RankCityCountry12-month change
124LimassolCyprus-0.50%
125EdinburghUK-0.60%
126MilanItaly-1.00%
127KochiIndia-1.10%
128NicosiaCyprus-1.10%
129AthensGreece-1.40%
130LarnacaCyprus-1.50%
131VeniceItaly-1.80%
132TriesteItaly-2.00%
133RioBrazil-2.00%
134TaipeiTaiwan-2.00%
135SingaporeSingapore-2.00%
136MoscowRussia-2.30%
137MarseilleFrance-2.60%
138ThessalonikiGreece-2.70%
139RomeItaly-2.70%
140EdmontonCanada-2.80%
141QuebecCanada-2.80%
142PerthAustralia-3.50%
143NapoliItaly-3.60%
144PalermoItaly-4.60%
145DurbanSouth Africa-5.10%
146JaipurIndia-5.40%
147AberdeenUK-5.50%
148GenoaItaly-5.90%
149DarwinAustralia-5.90%
150SkopjeMacedonia-7.00%

Source: Knight Frank

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