House Price Rates Drop By 50% Worldwide

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House price rises are slowing down across the world, according to property experts.

Prices in almost nine out of 10 countries tracked by international property consultants Knight Frank returned increasing values – but the rate was around half that of the previous three months.

At the top of the 56-country table, 13 of the top 15 strong performing housing markets slowed their rate of growth.

Iceland has topped the table for a year.

Estonia, Hungary and New Zealand all dropped out of the top 10 – with New Zealand sinking to 27thas price growth halved from 10.4% to 5.2% for the year.

Booking.com

Asia still beats Europe

“European housing markets are firmly back in the spotlight. On average, the region recorded 5.6% annual price growth in the year to September, up from 2.3% three years ago,” said Knight Frank researcher Kate Everett-Allen

“The good news for Europe doesn’t end there. Greece (0.7%) may finally see price growth reach positive territory over the next quarter after nine years of negative annual growth.

“Despite Europe’s recent recovery, analysis over a five and 10-year period underlines the extent to which countries within Asia Pacific still rank amongst the highest performers.”

Top 20 countries for property price rises

Rank Country Change
    12 months 6 months 3 months Market direction
1 Iceland 20.4% 10.4% 3.6%
2 Hong Kong 17.5% 7.8% 1.7%
3 Czech Republic 13.2% 5.4% 2.3% +
4 Malta 11.5% 2.6% 2.0%
5 Canada 11.4% 8.0% 1.8%
6 Turkey 11.1% 5.2% 2.1%
7 Australia 10.2% 4.2% 1.9% <>
8 Latvia 8.8% 4.3% 0.9%
9 India 8.7% 4.6% 3.8%
10 Bulgaria 8.6% 4.4% 2.4%
11 Sweden 8.1% 5.5% 2.2%
12 Hungary 8.1% 1.1% -3.7%
13 Ireland 7.8% 3.8% 2.5%
14 Slovenia 7.6% 5.7% 3.4% +
15 The Netherlands 7.3% 4.1% 2.2%
16 Romania 7.2% 6.1% 4.9%
17 Morocco 7.1% 4.5% 1.8% +
18 Colombia 6.7% 3.0% 1.2%
19 China 6.5% 3.0% 0.9%
20 Slovakia 6.4% 3.5% 5.5%

Source: Knight Frank

Bottom 10 countries for property price rises

Rank Country Change
    12 months 6 months 3 months Market direction
47 Finland 1.4% 3.2% 2.7% +
48 Cyprus 1.2% 0.8% 0.5% +
49 Taiwan 0.9% 0.0% -0.8%
50 Italy -0.1% 0.2% 0.3%
51 Japan -0.2% 0.0% 0.0% <>
52 Singapore -0.3% 0.5% 0.6% +
53 Brazil -0.4% -0.8% -0.4%
54 Greece -0.7% -0.3% -0.1% +
55 Saudi Arabia -5.4% 0.7% 0.5% +
56 Ukraine -6.7% -1.9% -3.2%

Source: Knight Frank

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