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Knight Frank Global House Price Index - Residential Property
Date: 3rd Quarter 2006
The Knight Frank Global House Price Index is the first serious
attempt to analyse pricing trends in residential property across the world on a
standardised basis every quarter. Results for 32 countries are based on an
assessment of price changes in the mainstream housing markets of each of the
countries covered.
-
Average global house prices stood 8.4% higher at the end of
September 2006 compared to the same period 12 months earlier; global house price
inflation has continued to slow from the peak levels reached in 2004, average
annual prices were growing by 10.9% in September 2005.
-
Norway, Australia and the UK have seen biggest uplift in growth,
climbing the ranks of the index list by 12, 10 and 9 places respectively
-
The biggest losers have been Hong Kong, US and Italy, down 26,
10 and 9 places respectively.
Annualised house price growth and country rankings:
|
Position |
Location |
2006
Q3 |
2005
Q3 |
2005
Q3 Rank |
Position change
Year on-Year |
| 1
|
Latvia (Riga)
|
39.2% |
65.9%
|
1 |
0 |
| 2
|
Bulgaria |
19.0% |
32.1% |
2 |
0 |
| 3
|
Denmark |
17.8%
|
18.4%
|
6 |
3 |
| 4
|
Lithuania (Vilnius) |
15.5%
|
14.4%
|
0
|
6 |
| 5
|
Ireland |
15.0%
|
11.9%
|
3
|
8 |
| 6
|
Norway |
14.1% |
7.7%
|
18
|
12 |
| 7 |
Belgium |
14.1%
|
16.1%
|
7 |
0 |
| 8 |
South Africa
|
13.9%
|
20.7% |
4
|
-4 |
| 9 |
Greece |
10.5% |
11.3%
|
15
|
6 |
| 10
|
Estonia (Tallinn)
|
10.5%
|
20.8%
|
3 |
-7 |
| 11 |
Canada |
9.8%
|
11.8%
|
14 |
3 |
| 12
|
Spain |
9.7%
|
13.5%
|
11 |
-1 |
| 13 |
Sweden |
9.2%
|
9.5% |
17 |
4 |
| 14 |
France |
8.9% |
15.5%
|
8
|
-6 |
| 15 |
New Zealand
|
8.7% |
15.3% |
9
|
-6 |
| 16
|
UK |
8.7%
|
2.7% |
25 |
9 |
| 17
|
Australia |
7.4%
|
1.7% |
27
|
10 |
| 18
|
Singapore |
7.4%
|
3.3%
|
23 |
5 |
| 19
|
Indonesia |
7.2%
|
5.4% |
21 |
2 |
| 20
|
Finland |
5.9% |
6.8% |
19 |
-1 |
| 21 |
China |
5.8%
|
6.6% |
20
|
-1 |
| 22 |
US |
5.7% |
12.7%
|
12 |
-10 |
| 23 |
Austria |
4.9%
|
2.6% |
26 |
3 |
| 24 |
Netherlands
|
4.3%
|
5.3%
|
22 |
-2 |
| 25 |
Italy |
3.7%
|
9.6%
|
16 |
-9 |
| 26 |
Switzerland
|
1.8%
|
0.8%
|
29
|
3 |
| 27 |
Serbia (Belgrade)
|
0.5%
|
-13.7%
|
32 |
5 |
| 28 |
Hungary |
-1.0% |
1.4% |
28
|
0 |
| 29
|
Portugal |
-1.2% |
3.3% |
24 |
-5 |
| 30 |
Japan |
-2.2% |
-4.7%
|
31
|
1 |
| 31
|
Hong Kong |
-2.6%
|
20.1% |
5
|
-26 |
| 32 |
Germany |
-3.0% |
0.1%
|
30 |
-2 |
|
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