By David Fuller
Figures from the Global Property Guide show that Europe, Hong Kong and Canada continue to experience strong property price rises, despite many locations seeing a drop in price growth.
The most recent data shows that during the second quarter of 2017 house prices rose in 28 out of the 43 world's housing markets which have so far published housing statistics.
The biggest price rises in the years to the second quarter of 2017 were seen in Iceland (+21.28 per cent), Hong Kong (+19.27 per cent), Ireland (+13.52 per cent), Canada (+13.08 per cent), and Romania (+8.87 per cent).
Six of the ten strongest housing markets in the company’s global survey are in Europe and house prices have risen in 18 of the 22 European housing markets for which figures were available during the year to the second Quarter 2017. Russia, Greece, Macedonia and Ukraine were the only European markets not to see property price growth during this period.
The UK’s property market was also found to be one of the weakest in Europe in terms of price growth, with prices increasing by just 0.22 per cent.
In America, house prices continue to rise in all 20 major US cities, according to the Case-Shiller index, with Seattle registering the biggest inflation-adjusted increase of 11.6 per cent during the year. Overall, growth in the States was found to be 4.07 per cent.
However, most of the Middle East, Latin America, New Zealand and some parts of Asia experienced either house price falls or a deceleration of house price rises.
The biggest year-on-year house-price declines were recorded in Puerto Rico (down by 9.59 per cent), Russia (-7.58 per cent), Qatar (-6.25 per cent), Macedonia (-5.99 per cent), and Egypt (-5.32 per cent).
Top ten strongest property price growth Q2 2016 – Q2 2017
1. Iceland, 21.28%
2. Hong Kong, 19.27%
3. Ireland, 13.52%
4. Canada, 13.08%
5. Romania, 8.87%
6. Philippines, 8.45%
7. Sweden, 7.5%
8. Netherlands, 7.4%
9. Germany, 6.96%
10. China (Shanghai), 6.76%
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