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Knight Frank launches Global House Price Index Q4 2016

30 March 2017

Malaysia – Knight Frank, the independent global property consultancy, today launches the Global House Price Index*for Q4 2016. The index monitors and compares the performance of mainstream residential markets in 55 countries across the world, 11 of which are from Asia-Pacific. Globally, the index grew by 6.0% in 2016, up from 5.3% in the previous quarter and 4.1% in 2015. It is the highest annual rate recorded since the first quarter of 2014.

 

 

 Results for Q4 2016

  • Iceland leads the ranking for the first time since the index began in 2006.
  • China jumped from 43rd position in the rankings in 2015 to 7th in 2016 with average prices now increasing by 10.8% per annum according to the country’s National Bureau of Statistics.
  • Ukraine, Taiwan, Singapore and Cyprus continue to be characterised by weak growth either due to ongoing geopolitical crises, economic fragility or cooling measures which are artificially restraining growth.
  • Long-term frontrunners, Turkey (12.2%) and Sweden (6.1%) both saw their rate of annual growth decline.
 
Nicholas Holt, Head of Research for Asia-Pacific, Knight Frank Asia-Pacific, says,New Zealand, the strongest performing market in the Asia-Pacific region, is seeing price growth moderate after a number of quarters of upwards momentum. However, with the market still suffering from supply shortages, we believe overall growth will remain positive throughout the year.
 
“In Asia, the most notable market was Singapore where the surprise slight easing of certain cooling measures is likely to spur some additional interest in the market. Still sitting close to the bottom of the chart, many buyers in Singapore are still constrained by the Additional Buyer's Stamp Duty and lending restrictions.”
 
Kate Everett-Allen, Partner, International Residential Research, adds, “The growth rate in the US increased compared with last quarter, whilst the UK drifted lower.
 
“The overall picture is one of stable or rising prices, despite the global landscape of political and economic uncertainty. The number of housing markets recording price rises has increased from 43 in 2015 to 47 in 2016. With higher inflation and diverging monetary policies expected in 2017, we may see a widening gap between the strongest and weakest performing market.”
 
Judy Ong Mei Chen, Executive Director of Research and Consultancy, Knight Frank Malaysia, comments, “The house price index in Malaysia continues to grow but the pace of growth has slowed down due to the slew of cooling measures introduced by the government to curb speculation in the property sector. Malaysia still remains as an attractive investment destination in the region with its stable property market and relative lower entry prices that continue to offer reasonable returns.”
 
 
For further information, please contact:
 
Mr Nicholas Holt, Asia-Pacific Head of Research
nicholas.holt@asia.knightfrank.com +86 10 6113 8030 @nholtKF
 
Ms Rachel Loke, Asia-Pacific Head of Marketing, Communications & Digital
rachel.loke@asia.knightfrank.com +65 6429 3587 @knightfrank 
 
Ms Seline Soo, Marketing & Communications Manager, Knight Frank Malaysia
seline.soo@my.knightfrank.com +603 2289 9669 @KnightFrank_my
 
 
To download the report, please visit:
 
Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 14,000 people operating from 413 offices across 60 countries. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit knightfrank.com.
 
Knight Frank has a strong presence in Malaysia with its headquarters in Kuala Lumpur as well as branches in Penang, Johor and Kota Kinabalu. The company offers high-quality professional advice and solutions across a comprehensive portfolio of property services and is registered with the Board of Valuers, Appraisers and Estate Agents. The Company is licensed to undertake property, valuations / consultancy, estate agency and property management and is also on the panel of all leading banks and financial institutions. For further information about the Company, please visit www.knightfrank.com.my.