Prime Global Cities Index Reveals Price Growth

Independent global property consultancy Knight Frank&#x27;s Prime Global Cities Index Report has just been launched, tracking prime residential prices across 37 global cities worldwide. Knight Frank launched the index, which revealed an increased in residential prices of 4.4% in the year to June 2016 - its highest rate of growth over the last two years. According to Knight Frank Residential Research Director Michelle Ciesielski, Australia is considered highly desirable for long-term wealth preservation despite a continuing global uncertainty. “It also helps that Australia is highly ranked for lifestyle and well-placed for the education of future generations, despite the Foreign Investment Review Board (FIRB) application fees, as well as foreign investor duties and land tax surcharges in Sydney and Melbourne. “Locally, Australia has seen a steady recovery in non-mining activity towards a more services sector- dominated economy. &quot;The share market has experienced an upward trajectory over the course of 2016, whilst business confidence remains positive in this low-interest environment,” says Ms Ciesielski. Results for Q2 2016: Vancouver leads the rankings for the fifth consecutive quarter. Prime prices have increased by 36.4% in the year to June but July saw the surprise announcement that the British Colombia Government plans to introduce a new 15% tax for foreign buyers, effective from 2 August 2016. Other top performers this quarter include Shanghai (22.5%), Cape Town (16.1%), Toronto (12.6%), Melbourne (11.0%) and Sydney (10.2%); all saw annual price growth reach double figures in the year to June. A breakdown by world region shows Australasia is on top; prime prices increased by 11% on average year-on- year Hong Kong has eclipsed Taipei this quarter to take the title of weakest-performing residential market. Prime prices slipped 8% in the year to June as supply increased and concerns over the slowdown in the local economy persisted. The majority of our top ten ranking cities have been on the receiving end of new cooling measures in the last 12 months.

Prime Global Cities Index Reveals Price Growth

Moreton Bay Reveals Sprawl-Free Future for Surging Population

Beyond Energy Efficiency: Cutting Carbon Property’s New Frontier

Mirvac Monopoly: BtR Pioneer Plots East Coast Domination

Keeping the Lights On: Growing Pains Jeopardise Industrial Boom

What’s Driving Pro-invest Push into ‘Underserved’ Micro-Apartments

Fireside Chat | Inside GemLife With Adrian Puljich

Building Australia's Newest Airport: Multiplex

The Makers Of The Mondrian | Design, Vision And Delivery Behind One Of Australia’s Most Anticipated Luxury Hotels

Next Gen Now | How Emerging Developers Are Redefining The Game

GPT, CSC Winners in $1.72bn Sydney Skyscraper Tussle

Landmark Hobart CBD Block Sale Tops Expectations

Coronation 1000-Home BtR Scheme Greenlit at Erskineville

Melbourne Adviser Banned by ASIC Over Shield Master Fund

Commercial Real Estate Summit

Urban Leader Awards

Property Development Masterclass Series

Long Lunch Series