Global Residential Cities Index, Q3 2020
January 4, 2021
How did city house prices around the world perform in Q3 2020?
Knight Frank’s Global Residential Cities Index tracks the movement in average prices across 150 cities worldwide. The index’s annual rate of growth increased by 4.7% in the year to Q3 2020, up from 4.1% in the 12 months to Q2 2020.
After the hiatus in Q2 when transactions were halted in many markets, urban house prices increased in 85% of the cities tracked in Q3 2020 on an annual basis.
Record low interest rates, huge fiscal stimulus measures as well as a release of pent up demand post-lockdown are behind the uptick in price growth, and with travel restrictions during this period buyer demand was largely domestic in nature.
Key findings:
- The Index’s annual rate of growth increased between Q2 and Q3 2020, from 4.1% to 4.7%. Record low interest rates, huge fiscal stimulus measures as well as a release of pent up demand in Q3 are behind the uptick in price growth.
- 15% of cities registered a decline in annual prices in the year to Q3 2020, down from 18% in Q2 2020
- Eighteen cities saw prices rise by more than 10% year-on-year, up from 16 in Q2 2020.
- Manila and the three Turkish cities of Izmir, Ankara and Istanbul lead the index, all registering annual price growth above 25%
- Canadian cities have risen up the annual rankings with four now sitting in the top 20 – Ottawa, Halifax, Montreal and Hamilton
Written By:
Kate Everett-Allen, Knight Frank
You May Also Enjoy
7 Ways Self Storage Supports Business Growth in 2025
As businesses face increasing challenges in managing costs, scaling operations, and adapting to changing markets, self storage has emerged as an indispensable tool for success. Whether you’re a small startup or an established multinational company, self storage offers a practical, affordable, and secure way to handle the demands of modern business. As businesses grow, they…
Read More 
How much would Bridget Jones’ iconic London apartment cost today?
How much would Bridget Jones’ iconic London apartment cost today? A new study has revealed that the average price to purchaseBridget Jones’ iconic London apartment in the Borough Market area is now £415,090. The study calculated that this is a price increase of 182% since the first film premiered in 2001. The research obtained data…
Read More 
Rightmove House Price Index: Record number of sellers in promising start to 2025, but uncertainties ahead
The average price of property coming to market rises by 1.7% (+£5,992) this month to £366,189, the largest jump in prices at the start of the year since 2020: New seller asking prices are still nearly £9,000 below May 2024’s record, reflecting buyer affordability constraints A record number of early-bird new sellers have come to…
Read More 
Zoopla identifies housing markets with best prospects for house price growth in 2025
New analysis from Zoopla, one of the UK’s leading property websites, reveals that housing markets in Scotland and Northern England have the best prospects for house price growth in 2025, as Southern England continues to adjust to the impact of higher mortgage rates. Housing markets in Scotland and Northern England have the best prospects for…
Read More 
Shared Ownership vs. Traditional Mortgages: What’s the Difference?
Buying a property in Guildford is a significant decision, and choosing the right method of ownership is crucial. Two popular options available to buyers are shared ownership and traditional mortgages. Understanding their differences can help you decide which suits your financial situation and property aspirations. What Is Shared Ownership? Shared ownership is a government-backed scheme…
Read More 
Rightmove’s weekly mortgage tracker – 16/01/25
Average mortgage rates drop despite mixed economic news Commenting on the drop in average rates this week, Rightmove’s mortgage expert Matt Smith says: “Despite all of the economic news we’ve had this week, average rates have fallen. It shows that despite the challenges affecting the mortgage market at the moment, lenders are keen to…
Read More