Global cities house-price index

By THE DATA TEAM

A DECADE AGO a housing bust in America nearly took down the world’s financial system. The cost of homes in most countries fell substantially afterwards. Ten years on, however, they have reached new highs in many places. The rise has been particularly pronounced in the world’s most desirable cities. In London and Sydney, prices have doubled; in Hong Kong they have trebled.

Now this exuberance appears to be coming to an end. As our print article explains, this is most noticeable at the ”prime” end of the market—defined as the top 10% by value—in global cities such as New York, London and Sydney. In London prime property prices are down 20% since their peak in 2014; in Sydney they have fallen 16% over the past 18 months.