PHOTO: SUPPLIED Finland has seen the emergence of a two-tier housing market. While nationally prices dipped, Helsinki and other major cities are seeing record price growth.
ANALYSIS: Sometimes what goes up really does come down. It often appears that property prices just get bigger and bigger but the housing market is vulnerable to all sorts of shakes and wobbles, both domestic and global.
The Frank Knight Global House Price Survey, a quarterly report derived from a survey of average house prices in 57 countries, shows that in the year ending September 2018 the overall growth in the global housing market grew by 4.9 per cent, with Asia Pacific the strongest performing region.
Australia: House prices dropped by an average of 0.6 per cent in the year to September.
The decline in house prices across the ditch has been going on for about a year now, after a heady six years of growth.
The drivers have been a combination of tighter lending standards, increased listings and a lack of investor demand, with affordability being a major contributing factor too – the average house value is A$782,000 (NZ$820,400).
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