Latest NewsAustralian Property Leads Global RecoveryThursday, 29 September 2016

Australia is leading the global recovery in residential property prices, according to research from Knight Frank.

The latest Global House Price Index shows house prices are beginning to stabilise across the globe, with an increase in value recorded for the second quarter of 2009 for almost half of all the locations that reported price changes.

Knight Frank's head of residential research Liam Bailey said while quarterly price falls accelerated in 22 per cent of the locations, they did not exceed 10 per cent in any country.

"This compares with double-digit falls in a number of locations during the March quarter," Mr Bailey said.

In Australia, prices fell 1.4 per cent over the financial year, but the turnaround from the March quarter to June was 4.2 per cent - the second highest rise in the world.

It seems the combined effects of constrained supply, low interest rates and soaring business confidence have worked in the Australian residential market's favour.

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