The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ResidentialStaff WriterThu 08 Jun 17

Global House Price Index Sees Highest Rate Of Growth For Three Years

P

The Knight Frank Global House Price Index for the first quarter of 2017 recorded an increase of 6.5% in the year to March 2017 – its highest annual rate of growth in three years.

The index measured the global mainstream housing market across 55 countries using data from official sources.

“Rather than global performance being purely driven by positive growth, the rise has been accompanied by an increase in the number of countries seeing double-digit annual price growth," Knight Frank Head of Residential Research, Australia Michelle Ciesielski said.

According to the index, eleven countries recorded double-digit growth in the year ending March 2017; a year earlier only four fell into this range.

Australia also saw an upward trajectory in prices, moving from 37th position in Q4 2016, with annual capital growth of 3.5%, to 20th position in Q1 2017 recording annual growth of 7.7%.

“The momentum in house price growth picked up in late 2016 for Sydney and Melbourne, and this flowed through to dominate the uptick in the national result," Ms Ciesielski said.

“Australia last saw annual double-digit annual growth in Q4 2015, when house prices grew 10.7% as Australia ranked in 4th position.

“Since this time, the ability to source lending finance has tightened for both local and foreign investors, mortgage interest rates have increased despite the official cash rate falling 50 basis points to currently stand at 1.50%.

“We also saw application fees for foreign buyers being introduced and state-based surcharges on stamp duty were increased in Victoria, and rolled out in NSW and Queensland,” Ms Ciesielski said.
Additional key findings

  • Price growth in China has slipped marginally to 10.3% per annum, with more than 45 cities having implemented home purchase restrictions

  • Ahead of their 2017 elections France and the Netherlands saw price growth increase, South Korea, the UK and Germany are seeing price growth slow.

ResidentialAustraliaFinanceReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
The property giant’s strategic shift to higher density is in full flight as details of two landmark projects are made pu…
LATEST
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/global-house-price-index-sees-highest-rate-growth-three-years