Globally, prime residential prices are rising at their fastest rate since Q4 2017. Prime prices, defined as the top 5% of the housing market in value terms, increased 4.6% on average in the year to March 2021. Eleven cities registered double-digit priced growth up from just one a year ago. Low mortgage rates – record lows in some markets – tight stock levels and a desire for space post-lockdown have led to an uptick in demand.