Q2 2014: Global house price boom continues, led by Middle East, Europe, and the Pacific
November 24, 2014
The global house price boom continues, with a new geographical twist. Housing markets surged during the year to Q2 2014 in Dubai, parts of Europe and the Pacific. In contrast, several Asian governments have implemented cooling measures, successfully restraining their housing markets, and the US housing market boom is weakening.
House prices rose in 28 of the 44 world's housing markets which so far published housing statistics, using inflation-adjusted figures. The more upbeat nominal figures, which are more familiar to the public, showed house price rises in 34 countries, and declines in only 10 countries.
Inflation-adjusted figures are used throughout this release.
Momentum: the good news is that there has been no acceleration of the upward momentum. Only 22 housing markets showed stronger upward momentum during the year to Q2 2014 than during the same period last year, while 22 housing markets showed weaker momentum.