The current rate of increases has to slow down – but the hard question to answer, writes Hamish McRae, is when?
吨he global surge in house prices must inevitably come to an end. But we don’t know when that end will come, or whether it will come with a crash or simply fizzle out.
Just about everywhere prices are rising faster than both consumer prices and personal incomes. According to estate agents Knight Frank there are just four out of the 56 countries they surveyed where the price of residential property have actually fallen over the past year. They are Malaysia, Morocco, India and Spain, with Spain down 1.8 百分.
At the other end of the scale Turkey is up 32 百分, 新西兰 22.1 per cent and Luxembourg 16.6 百分. The US comes in at 13.2 百分, the UK at 10.2 per cent – the figures are the year to end March and according to Nationwide, in May the UK annual increase had climbed to 10.9 百分.