Home prices may be starting to shift from appreciation to depreciation in some U.S. markets, but home price news is good in much of the rest of the world. If you work internationally, this is important information to know.
The Knight Frank Global House Index tracks average house prices across a comprehensive list of countries across the world. This unique index is based on an assessment of price changes in the mainstream housing markets of the countries covered. The latest index report, which covers the 12 months up to and including 3rd quarter 2007, shows that while home price appreciation continues in most of the world, the rate of appreciation is slowing. Nonetheless, there's lots of good news for homeowners in many countries.
Here's Knight Frank's list of the top ten countries based on home price appreciation over the 12 months up to and including 3rd Quarter of this year as compared to the same period last year:
On an unweighted basis, prices globally rose by 8.2% for the year, compared to 9.6% for the 12 months through 3rd Q 2006.
