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Knight Frank launches Global House Price Index Q1 2018

12 June 2018

Malaysia – Knight Frank, the independent global property consultancy, today launches the Global House Price Index* for Q1 2018. The index tracks the movement in mainstream residential prices on a national basis across 57 markets using data from official sources such as Central Banks and National Statistics Offices. 

Results for Q1 2018

·        The index increased by 4.8% in the year to March 2018. House prices are rising in 86% of the 57 countries tracked by the index. 

·        Only 9% of the markets tracked registered price growth above 10%, down from 18% a year ago. 

·        Hong Kong leads the index for the first time since the second quarter of 2015, with average prices ending the 12 months to March, 14.9% higher. Since the index was first published in 2008, Hong Kong has held the top spot on ten different occasions – more than any other territory tracked. 

·        Analysis by world region shows Asia Pacific (5.7%) came in second after North America (6.6%). 

·        Europe’s recovery is now well-underway, closer analysis confirms 11 of the 15 strongest-performing housing markets globally were in Europe at the end of March 2018. 

Nicholas Holt, Head of Research for Asia-Pacific, says, While most Asia-Pacific markets saw moderate house price growth in Q1 2018, Hong Kong’s 4.6% quarter-on-quarter and 14.9% year-on-year growth made it the fastest riser globally over the last 12 months. Despite the prospect of increasing interest rates, limited new supply will underpin continued price growth through 2018. 

Kate Everett-Allen, Partner, International Residential Research, adds, “What is clear is the extent to which the outliers are disappearing with the performance of countries and territories now converging. This may be an indication that buyer sentiment is weakening, as the shift towards tighter monetary policy and the removal of stimulus becomes a reality in key global economies.”

 

Top ten rankings by annual price change

Rank

Country

12-month % change (Q1 2017-Q1 2018)

1

Hong Kong**

14.9%

2

Malta***

13.6%

3

Iceland

13.2%

4

Ireland

12.7%

5

Jersey

12.1%

6

Turkey

9.5%

7

Bulgaria

9.0%

8

Mexico

8.7%

9

Netherlands

8.7%

10

Czech Republic***

8.4%

 ** Provisional ***Asking prices

* The index’s overall performance is weighted by GDP on a Purchasing Power Parity basis and the latest quarter’s data is provisional pending the release of all the countries’ results.

END

 

To download the report, please visit: http://www.knightfrank.com/research/global-house-price-index-q1-2018-5605.aspx

 

For further information, please contact:

Nicholas Holt, Asia-Pacific Head of Research

nicholas.holt@asia.knightfrank.com +86 10 6113 8030 @nholtKF

 

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 

 

Notes to Editors

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 15,000 people operating from 418 offices across 60 markets. 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 www.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.