Global House Price Index increases by 3.3 per cent

For the first time in two years the Global House Price Index came close to falling into negative territory, as slowdown in global house prices continues.

Knight Frank Global House Price Index – key findings:

  • The Knight Frank Global House Price Index increased by 3.3% in the 12 months to September 2014
  • Ireland tops the annual rankings with prices rising 15% on average year-on-year
  • Dubai recorded its first quarterly decline in four years, with prices falling 5.2% between June and September
  • In China, 58 of the 70 cities tracked recorded a decline in house prices over the 12-month period to September
  • No country has recorded an annual fall in house prices in excess of 10% for three consecutive quarters

Kate Everett-Allen, Knight Frank International Residential Research said:

“Fewer countries are reaching the heights of double-digit price growth but it’s not all bad news. No country has recorded an annual fall in house prices in excess of 10% for three consecutive quarters suggesting a slight convergence in the performance of the 54 housing markets tracked.”