Knight Frank’s Global House Price Index, which tracks mainstream residential prices in 53 countries, as well as Dubai and Hong Kong, has exceeded its pre-financial crisis high.
The index now stands 4% above its previous peak in the second quarter of 2008 and 12.7% above its financial crisis low in the second quarter of 2009.
Over 69% of the countries tracked by the index recorded positive growth in the year to September 2013, two years earlier this figure was close to 55%.
The index’s strong performance has been assisted not just by headline grabbing price rises in Dubai, China and Hong Kong where annual price growth ranged from 16% to nearly 29% but by the performance of a number of emerging markets.
Taiwan, Indonesia, Turkey and Brazil recorded price growth of 15.4%, 13.5%, 12.5% and 11.9% respectively in the year to September.
While Dubai’s continued recovery is impressive, Ireland is also experiencing a strong rebound. Ireland now ranks fifth in terms of quarterly price growth, with prices rising 4% on average over the three months to the end of September. Less than two years ago average prices were falling at a rate of 5.4% each quarter.
For more data and analysis read the Global House Price Index in full.