The UK has ranked 22nd on Knight Frank’s Global House Price Index as global prices rose 0.1% in the year up to June…
The small rise is the weakest rate of growth since the fourth quarter of 2011, with 27% of the housing markets tracked reporting an annual decline in prices.
Hong Kong is top of the index after an increase of 20.7% over the last 12 months, with the UK’s increase at 4.2%.
The report stated: “As China supplants Greece as the world’s key economic concern, and emerging markets look increasingly anaemic, there is a global quest for growth which is evident at a macroeconomic level but also when analysing house price performance.”
“Europe is no longer the weakest-performing world region, a title it has held for 15 consecutive quarters.
“On average prices across Europe increased by 2.8% year-on-year with Turkey, Estonia, Luxembourg and Ireland all achieving double-digit annual price growth.”
Dubai is ranked at the bottom of the index, with a decline of 12.2% over the last 12 months.
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