Average house prices rose by 6.5% on
average* across the 55 countries tracked by
our index, the highest rate of annual growth
recorded by the index since the first quarter
of 2014.
It is not simply that more countries are
recording positive growth although that
has played a part – 43 countries recorded
price rises in Q1 2016, a year on and this
figure has risen to 48. This rise has been
accompanied by a concomitant increase
in the number of countries seeing double
digit annual growth rates. Eleven countries
recorded double-digit price growth in the
year to March 2017, a year earlier only four
fell into this bracket.
Given the uncertain global political
landscape, the ramping up of cooling
measures in large parts of Asia and the
unravelling of stimulus measures such as
QE in some parts of the world why are
average prices shifting up a gear Economic
growth is one reason – the IMF forecast
global GDP to rise by 3.5% in 2017 up from
3.1% in 2016 – property’s reputation as a
safe haven investment is another, along
with the greater availability of mortgage
finance in developing markets.
Iceland, which leads the rankings for the
second consecutive quarter, is heating up
with average house prices rising by 17.8%
year-on-year. A dearth of new supply is
Results for Q1 2017
The Knight Frank Global House
Price Index* increased by 6.5% in the
year to March, its highest rate of growth
for three years
Eleven countries recorded double-
digit price growth in the year to
March 2017, a year earlier only four fell
into this bracket
Iceland leads the index recording
average price growth of 17.8% in the
year to March 2017
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
KATE EVERETT-ALLEN
International Residential Research
“ Iceland leads the rankings for
the second consecutive quarter.
Here, a lack of supply is fueling
price growth.”
Follow Kate at @keverettkf
For the latest news, views and analysis on
the world of prime property, visit Global
Briefing or @kfglobalbrief
GLOBAL HOUSE PRICE INDEX
GAINS MOMENTUM
A year ago “slow and steady” was the order of the day with the
narrative surrounding global house prices one of convergence.
Our latest round-up however shows the outliers are returning.
RESIDENTIAL RESEARCH
GLOBAL HOUSE
PRICE INDEX
0%
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Global House Price Index Q1 2017
Annual performance over the last five years12-month % change*
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**2
017
Q1
20Q3
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20Q1
20Q4
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20Q2
20Q1
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