Property prices in 46 prime global cities grew by 1.4% during Q2 2019, according to Knight Frank.

The consultancy’s Prime Global Cities Index shows that price growth increased from the previous quarter but remains below the four-year average of 3.8%.

Some 35 of the 46 markets tracked recorded price growth in the year to June, equivalent to 76%.

The top performing city for annual growth in the year to June was Berlin with average prices rising by 12%, although this figure dropped from 14.1% in March.

The top three was made up by Frankfurt and Moscow with annual growth of 12% and 9.5% respectively.

Outside Europe, the best performing prime cities on an annual basis were Manila (6.2%), Beijing (4.5%) and Delhi (4.4%).

Of the 11 cities which saw prices decline annually, the weakest markets were Istanbul (-9.9%) and Vancouver (-13.6%).

On a quarterly basis, the top cities for growth were Auckland at 4.1%, Madrid at 3.9% and Monaco at 3.4%.

Auckland’s quarterly success comes despite poor annual growth at -7.5% – the third lowest recorded of all 46 cities monitored.

“Sluggish economic growth explains the wave of interest rate cuts evident in the last three months as policymakers try to stimulate growth,” says Knight Frank.

“Much hinges on the next three months with stronger headwinds on the horizon we expect the index to moderate further in the second half of 2019 before strengthening in 2020.”

You can see the full index here.