House prices are falling worldwide, according to international property experts.
Globally, house prices were down 4.7% in the 12 months to the end of September 2017 and 5.8% down from the previous quarter, say international property consultants Knight Frank.
Reykjavik, Iceland, leads the ratings with a 21.3% year-on-year increase.
The firm tracks house prices in 150 cities, with 26 recording price falls and 22 reporting double digit increases.
“Some of the largest risers through the rankings include Amsterdam and Utrecht, however, this is largely due to declining growth rates of others, notably Indian and Chinese cities,” said Knight Frank researcher Kate Everett-Allen.
Half the cities with falling prices are in Europe and the highest sustained rise in house prices is in the Middle East for the past five years, but when the figures are adjusted for inflation, Asian cities, especially those in China, are leading the way.
“All 30 US and Canadian cities tracked by our index registered positive price growth over the 12-month period,” said Everett-Allen.
Top 20 fastest growing global house prices
| Rank | City | Country | Annual change |
| 1 | Reykjavik | Iceland | 21.3% |
| 2 | Izmir | Turkey | 19.8% |
| 3 | Hamilton | Canada | 19.5% |
| 4 | Toronto | Canada | 18.0% |
| 5 | Budapest | Budapest | 15.3% |
| 6 | Hong Kong | China | 15.1% |
| 7 | Amsterdam | Netherlands | 13.8% |
| 8 | Hobart | Australia | 13.8% |
| 9 | Rotterdam | Netherlands | 13.5% |
| 10 | Melbourne | Australia | 13.2% |
| 11 | Seattle | USA | 13.0% |
| 12 | Kochi | India | 12.8% |
| 13 | Changsha | China | 12.0% |
| 14 | Chongqing | China | 12.0% |
| 15 | Malmo | Sweden | 11.9% |
| 16 | Dublin | Eire | 11.6% |
| 17 | Utrecht | Netherlands | 11.5% |
| 18 | Gothenburg | Sweden | 10.9% |
| 19 | Wellington | New Zealand | 10.7% |
| 20 | Shenyang | China | 10.7% |
Source: Knight Frank
Top 20 fastest slowing global house prices
| Rank | City | Country | Annual change |
| 131 | Skopje | Macedonia | -1.3% |
| 132 | Turin | Italy | -1.8% |
| 133 | Taipei City | Taipei | -2.0% |
| 134 | Dubai | United Arab Emirates | -2.0% |
| 135 | Moscow | Russia | -2.2% |
| 136 | Seville | Spain | -2.3% |
| 137 | Lima | Peru | -2.4% |
| 138 | Aberdeen | UK | -2.4% |
| 139 | Perth | Australia | -2.4% |
| 140 | Chengdu | China | -2.8% |
| 141 | Rio de Janeiro | Brazil | -3.6% |
| 142 | Rome | Italy | -3.6% |
| 143 | Palermo | Italy | -3.7% |
| 144 | Shenzhen | China | -3.8% |
| 145 | Napoli | Italy | -4.2% |
| 146 | Jaipur | India | -4.5% |
| 147 | Genoa | Italy | -6.1% |
| 148 | Darwin | Australia | -6.3% |
| 149 | Valencia | Spain | -7.7% |
| 150 | Abu Dhabi | United Arab Emirates | -9.3% |
Source: Knight Frank
