The Prime Global Cities Index Q3 2022 is out now. Download your copy below.
- Globally, prime price growth dipped for the second consecutive quarter in Q3 2022.
- The index recorded average annual growth of 7.5% in Q3 2022, down from a peak of 10% in Q1 2022.
- Despite annual growth of 7.5%, the quarterly data reveals a marked slowdown. Of the 45 cities tracked, 19 saw prime prices decline between June and September 2022, up from seven in Q1 2022.
- At 2.7%, prices in prime central London are now rising at their fastest rate since Q1 2015.
- Resilient labour markets, a lack of supply and well capitalised lenders will support prime prices in most markets into 2023. However, the transition out of a sustained period of low lending rates will lead to pinch points in some markets.