Australia Top 5 For House Price Growth

The Knight Frank Global House Price index for the September Quarter showed Australia in fifth place with 18.9% year on year growth — up from 16.4% in the June quarter.

At the end of June, Australia was in 7^th place on the index.

Turkey topped the list, recording a 35.5% jump in house prices year-on-year. It is followed by South Korea (26.4%), New Zealand (21.9%), Sweden (20.3%) and Australia.

The index, which tracks 56 countries and territories, pointed to global house prices rising with 96% of the markets recorded experiencing positive annual growth.

The value of an average home increased by 9.4% in the 12 months to the September quarter — last year saw a lift of 9.2%.

A total of 46% of the housing markets recorded achieved annual price growth of more than 10%.

Australia hadn’t been in the top 5 of the index since the end of 2015—before a clampdown on lending came in.

“As at Q3 2021, the Australian mainstream market has had eight quarters of uninterrupted positive annual growth, and the market continues to heat up as much desirable stock is in short supply and interest rates remain at historic lows,” said Shayne Harris, Knight Frank Australia head of residential.

“As we move into 2022, we expect Australians to be influenced by further restrictions on lending, an increase in house listings and different considerations about how they deploy their capital as international travel resumes and some elements of pre-Covid life return,” he said.

A sanctuary of modern design and craftsmanship, this stunning north-facing family home in Dover Heights sets a new benchmark for luxury coastal living. Perched on a sun-drenched 563sqm block, the newly renovated residence combines elegance with functionality, making it the ultimate entertainer’s retreat.

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Raine and Horne Double Bay

Australia Top 5 For House Price Growth

It’s the first time in six years the nation has ranked so highly.

This renovated Hampton-style home offers luxury living and seamless indoor-outdoor entertaining in a prime coastal location.