Friday, August 18, 2006
Global House Price Crash??
Knight Frank have recently released the second quarter 2006 results of their Global House Price Index which they claim to be the first serious attempt to analyse pricing trends in residential property across the world on a standardised basis every quarter. The main finding is that global house price growth has continued to slow from the recent peak reached in 2004 and overall 18 out of the 30 countries covered have seen price growth slow over the last 12 months. Average global house prices stood 8.5% higher at the end of June 2006 compared to the same period 12 months earlier, the index shows.