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A new report finds that Hong Kong, Ireland, Estonia, the Philippines and Iceland are the top markets for home price growth

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Global Property Guide found that Hong Kong was the top market for house price growth with a gain of 16.43%

wichianduangsri / Getty Images
Global Property Guide found that Hong Kong was the top market for house price growth with a gain of 16.43%
wichianduangsri / Getty Images

A new report from Global Property Guide found that sellers the world over have reason to celebrate. The analysis, using inflation-adjusted figures, discovered that 24 of the 39 housing markets surveyed experienced price growth during the year to the second quarter of 2015. Big winners included Europe, North America and pockets of Asia.

Of the five strongest housing markets in our global survey, three are in Europe (Ireland (+10.81%), Estonia (+8.99%) and Iceland (+6.19%) while the other two (Hong Kong (+16.43%) and the Philippines (+6.61%)) are in Asia.

House prices continue to rise in all 20 major U.S. cities according to the Case-Shiller index, with Denver registering the biggest inflation-adjusted increase of 10.1% y-o-y in Q2 2015, followed by San Francisco (9.4%), Dallas (8.1%), Portland (7.7%), Miami (7.6%), Seattle (7.3%), Los Angeles (6.2%) and Las Vegas (6%). Chicago and Washington saw the lowest growth in house prices at 1.3% and 1.5%, respectively.Residential construction remains strong. New privately-owned housing units authorized rose 7.5% y-o-y to July 2015, according to the U.S. Census Bureau. Over the same period, the total number of housing starts rose by 10.1%, while housing completions soared by 14.6%.

The UAE, Russia and Ukraine were the worst performing markets, each experiencing price declines in excess of 10%. And while Hong Kong and the Philippines performed admirably, they only tell half the Asian story as Singapore, Taiwan, Indonesia and China, as a whole, struggle with declining and decelerating prices. Overall, Global Property Guide sees reasons to be optimistic with the majority of markets surveyed (22) experiencing momentum, which the report characterizes as “if a property market has risen faster this year than last (or fallen less).” Read the full report