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The data show that world house prices remain polarized,with prices rising in most of Europe,North America,China and New Zealand,and slowing in parts of Asia and the Middle East.
In the list of price increases,although New Zealand ranked second in terms of house prices after Turkey,if inflation is excluded,the annual growth rate of house prices in New Zealand will reach 11%,ranking first in the world.Canada ranked third with a 10%increase in house prices,which grew the fastest in the world in the past three months.
At the same time,some hot real estate markets in Asia are cooling rapidly.On the decline list,house prices in Taiwan fell by more than 9.4%,ranking at the bottom of the list.House prices in Singapore have also suffered a Waterloo.
Prices also fell faster in Ukraine and Morocco,down 9.2 per cent and 3.6 per cent,respectively.In addition,house prices in Brazil have not risen but fallen as a result of the Olympic Games.
Overall,global house prices are converging in 2015,according to Knight Frank.Average global house prices are growing at an annual rate of 4 per cent,roughly the same as the previous year.
The price of an average house in Auckland reached NZ$1.01 million in August,up 15.9 per cent from the start of the year and more than 85 per cent higher than the previous peak set in 2007,according to Quotable Value,a government appraisal agency.The average house price exceeded NZ$1 million,or about£560000,for the first time in August,surpassing the average house price in London by£470000.
Over the past quarter,house prices in New Zealand have risen at a rate of NZ$20,000(99000 yuan)a month.Coupled with the continuous depreciation of the pound,many Britons have given up the idea of emigrating to New Zealand.
The number of British applications for immigration to New Zealand has increased significantly since Brexit,according to figures released by the New Zealand Immigration Service.A total of 10000 applications were received in the 49 days of the referendum,up from 4599 in the same period last year.
According to the Guardian,about 1/4 of New Zealand’s total population of about 4.5 million are from overseas,and immigrants from the United Kingdom and Ireland have long accounted for the largest proportion of its immigrant population.Until 2013,the number of immigrants from Asian countries surpassed that of the UK and Ireland for the first time,and Chinese investors have been one of the main buyers of Auckland property.
As Auckland residents are unable to pay high housing prices and have to pay high rents,the Bank of New Zealand has formulated strict new rules on home purchase loans and decided to increase the down payment ratio from October 1,2016 through loan restrictions on commercial banks.After the new regulations are formally implemented,generally speaking,the down payment proportion of investment housing will be increased by at least 40%,and the down payment proportion of self-occupied housing will be increased by at least 20%.
Knight Frank also tracked house prices in 37 cities around the world to assess the rise and fall of house prices.
During the period from June 2015 to June 2016,Vancouver ranked first with an annual price increase of 36.4%,far ahead of the second place with an increase of 22.5%.The third place was Cape Town,South Africa,with a price increase of 16.1%.Toronto,Canada’s largest city,ranked fourth with an increase of 12.6%,while prices in Guangzhou and Beijing rose 8.8%and 6.4%respectively,ranking eighth and 11th.