Residential property prices across the world increased on average by 4% in the 12 months to June 2016, with New Zealand, Turkey and Canada witnessing the biggest jump in house prices over the past year, according to a new global ranking.
Once again, Turkey topped Knight Frank’s Global House Price Index, with property price growth of 13.9% year-on-year, followed by 11.2% annual price growth in New Zealand, which is home to the world’s most frantic housing market at the moment, fuelled largely by a sharp rise in demand for property in Auckland where house prices have risen by 15.9% year-on-year.
Other strong performing markets include Canada, Chile and Sweden. Knight Frank found that property prices in the three countries grew between 8.8% and 9.4%.
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