English cities dominate European house price growth
House price growth in four English cities is among the highest in the whole of Europe, Knight Frank’s Global Residential Cities Index shows.
Four of Europe’s top 10 fastest growing cities were Bristol (15.3%), London (14.4%), Nottingham (10.7%) and Birmingham (9.6%) annually to June.
The fastest growing city was Budapest (23.6%) in Hungary, while Amsterdam (14.7%) in the Netherlands was another strong performer.
At the other end of the spectrum prices in Moscow in Russia have fallen by 11% year-on-year.
European house price growth is nothing compared to that in China, which has six of the top 10 fastest growing cities in the world.
Shenzen (47.4%), Shanghai (33.8%) and Nanjing (31.5%) topped the report, which tracked 150 cities.
Such is the levels of growth, a number of China’s municipal governments are introducing cooling measures in an attempt to dampen sales, ranging from limiting non-locals to single house purchases to tightening rules for local residents when buying second homes.
On average house prices around the world have increased by 5.5%, with 114 cities recording positive annual growth.