Don’t worry about falling house prices in the UK – property values are falling globally for the first time in more than a decade. The firm tracks luxury property prices in popular cities for expats and the wealthy and reckoned values fell by 0.4 per cent in the year to the end of March. Since then, prices have gone up roughly five per cent a year, peaking at 10.1 per cent in the last quarter of 2021. The three worst-performing monitored cities are all in New Zealand and have seen prices plunge by between 15 and 27 per cent in the past year. Luxury house prices in Dubai have rocketed by 149 per cent since March 2020.

Source: Forbes May 30, 2023 12:30 UTC