Growth in global real house prices slowed to 2.2% year on year in aggregate in the second quarter of 2022. This reflected a strong increase in nominal terms (+10.6%) – largely offset by the surge in year-on-year consumer price growth rates. Real house price developments continued to diverge across the main regions. They continued to increase rapidly in advanced economies (AEs, +5.3% year on year) while emerging market economies (EMEs) saw their first decline (–0.2%) since early 2016. Real house prices surged in Turkey (50%), the United States (9%), Australia, Canada (both 8%) and Japan (7%). They fell by 6% in Brazil and 4% in China and India. In real terms, global house prices now exceed their immediate post-GFC average levels by 27% (40% in the AEs and 18% in the EMEs).
This information was gathered from the Bank for International Settlements