House prices across our 56-country basket rose by 3.3% in the 12 months to the end of June, with prices increasing by 1.9% over the past three months alone.

Key highlights:

• House prices across our 56-country basket rose by 3.3% in the 12 months to the end of June, with prices increasing by 1.9% over the past three months alone.
• 74% of markets are seeing price increases in the past three-month period, the highest reading in two years.
• Although the current 3.3% annual growth rate remains below the pre-Covid trend of 4.6%, growth has ticked up since the low reached in Q2 2023.
• Turkey leads our index with 46.4% nominal annual price growth. However, with the economy undergoing a second round of very high inflation, prices are dropping by around 14% annually in real, inflation-adjusted terms.
• Hong Kong is at the bottom of our table with prices falling by 12.7%, although prices were flat over the last quarter, pointing to the potentially successful impact of recent easing of purchase restrictions and stamp duties.
• The US market continues to deliver strong growth numbers, up 5.5% on an annual basis.