House price growth across the world has slowed down slightly over the last year, and property values on a global scale rose by 8.2 per cent during the third quarter of 2007.This is down from a 9.7 per cent increase recorded 12 months earlier.
However, Australia still managed to record a strong rate of growth during this period. During the year to September 2007, the nation's average property values rose from 9.5 per cent to 10.3 per cent.
Price growth has been driven by gains in Brisbane, Melbourne and Adelaide, where in each case, inflation over the year to quarter three of 2007 has been over 16 per cent.
Simon Turner simon@marquetteturner.com.au
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