BIS residential property price statistics, Q2 2023
In the second quarter of 2023, global house prices fell more moderately than in the previous three months, by an aggregate 2.4% year on year (yoy) in real terms. This was despite a further slowdown in nominal house prices and reflected the effect of slowing consumer price inflation. Real house prices continued to fall markedly in advanced economies (AEs) (–4.7% yoy). In emerging market economies (EMEs), by contrast, prices remained almost unchanged (–0.5%). Considerable differences still persist across major economies. For instance, real house prices surged in Türkiye, remained flat in India and Japan, and declined sharply in the United Kingdom, the euro area and even more so in Australia, Korea and Canada. In real terms, global house prices remain significantly (24%) above their average level after the 2007–09 Great Financial Crisis (GFC) (by 32% in AEs and 18% in EMEs). The residential and commercial property price data sets are now accessible through the new BIS Data Portal, with a dedicated dashboard for convenience.
In the second quarter of 2023, global house prices fell more moderately than in the previous three months, by an aggregate 2.4% year on year (yoy) in real terms. This was despite a further slowdown in nominal house prices and reflected the effect of slowing consumer price inflation.
Real house prices continued to fall markedly in advanced economies (AEs) (–4.7% yoy). In emerging market economies (EMEs), by contrast, prices remained almost unchanged (–0.5%).
Considerable differences still persist across major economies. For instance, real house prices surged in Türkiye, remained flat in India and Japan, and declined sharply in the United Kingdom, the euro area and even more so in Australia, Korea and Canada.
In real terms, global house prices remain significantly (24%) above their average level after the 2007–09 Great Financial Crisis (GFC) (by 32% in AEs and 18% in EMEs).
The residential and commercial property price data sets are now accessible through the new BIS Data Portal, with a dedicated dashboard for convenience.
