Wednesday, November 22, 2006

US leads global house price slowdown


Home prices down 1.2% in third quarter


Five countries in Knight Frank Global House Price Index recording negative price growth

By Finfacts Team
Nov 20, 2006, 10:45

· Third quarter 2006 results from the only truly global house price index are released today, with new data and more countries covered

· Average global house prices stood 8.4% higher at the end of September 2006 compared to the same period 12 months earlier; global house price inflation has continued to slow from the peak levels reached in 2004, average annual prices were growing by 10.9% in September 2005

· Norway, Australia and the UK have seen biggest uplift in growth, climbing the ranks of the index list by 12, 10 and 9 places respectively

· The biggest losers have been Hong Kong, US and Italy, down 26, 10 and 9 places respectively

· Growth is led by European countries, taking nine of the top index rankings; the recent and proposed accession states are particularly strong performers

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