The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
25 DAYS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
25 DAYS UNTIL OUR FLAGSHIP CONFERENCE 29-31 JULY, GOLD COAST
SECURE YOUR SPOTDETAILS
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
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Molti chief Ben Teague out front of 32 Mercer Road Aramadale (rendering)
Exclusive

Buy to the Sound of Cannons: Molti’s Counter-Cyclical Move to Melbourne

Leon Della Bosca
5 Min
Exclusive

Tapping the Bunnings ‘Halo Effect’

Taryn Paris
5 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
View All >
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
RCQ plan to convert 126-140 Bulcock Street, Caloundra into a 13-storey complex with ground floor retail according to the plans submitted to Sunshine Coast Council.
Residential

RCQ Files Triple-Tower Scheme for Caloundra Main Strip

Renee McKeown
Developer RCQ wants to convert eight commercial sites into 155 apartments overlooking the water…
LATEST
Exclusive

Carparking Correlation: How Parking Fees Provide Office Sector Health Check

Taryn Paris
6 Min
Bunnings Clyde North
Markets

Bunnings Sold On as Charter Hall Doubles Down on Retail

Leon Della Bosca
2 Min
RCQ plan to convert 126-140 Bulcock Street, Caloundra into a 13-storey complex with ground floor retail according to the plans submitted to Sunshine Coast Council.
Residential

RCQ Files Triple-Tower Scheme for Caloundra Main Strip

Renee McKeown
3 Min
The construction site which will one day become Newcastle Tallest Tower by Urban Property Group
Residential

Urban Property Group Reveals Newcastle Tallest Tower Plan

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