? Housing: Where the Market Is Really Headed |
| Middle-Income Metro Neighborhoods In Decline ?
July 04, 2006
Global House Price Index
Sometimes we bring you news as it happens and sometimes, like now, we're just a little bit late. With that apology, here are the findings of what's billed as the "first truly global house price index." It was released Apr. 29 (ahem) from a British firm called Knight Frank. Here's a link to the press release.
Knight Frank concludes that average global prices were rising 11% a year in 2004 but just 6% a year as of the end of March. So, a slowdown in growth, but not a decline. The biggest reversal was felt by Hong Kong, which went from a 23% annual price increase through early 2005 to a 7% annual price decline through early 2006.
TrackBack URL for this entry:
What good is it to have a global house price index without considering currency rate fluctuations? As a person with US Dollar income the fluctuations in the EURO can easily wipe out any potential appreciation in an overseas vacation home (south of France sounds good to me). So for whatever such a statistic is useful I am not sure, but it can be a start for refining it with other data..
Posted by: Toby Munk at October 6, 2006 11:58 PM