Q1 2013 Global House Price Index released by Knight Frank confirms that average prices rose 6.6% in the year to March, the highest rate of growth since Q2 2010. Kate Everett-Allen, Associate Partner, International Residential Research analyses global residential performances.
Results for Q1 2013:
- The Knight Frank Global House Price Index rose by 2% in the first quarter of 2013 and by 6.6% over a 12 month period
- Hong Kong recorded the largest rise on an annual basis (up by 28%) while prices in China rose the most on a quarterly basis (up by 10.7%)
- Greece recorded the largest annual fall in mainstream prices for the third consecutive quarter, declining by 11.8% in the first quarter of 2013
- The US saw prices rise by 10.2%, its highest rate of annual growth since 2006
- Europe is the weakest-performing region, mainstream prices fell by 0.3% on average during the last 12 months