The Asia-Pacific region has dominated Knight Frank's Global Residential Cities Index for Q3 2018, recording a 6. 3 per cent increase in housing prices across the past 12 months.

The report tracks the performance of mainstream housing prices throughout 150 cities globally.

Six Asian cities, including four from India, made the top ten, with the Chinese city of the Xi'an topping the rankings with a price growth of 20 per cent.

Global Residential Cities Index  Q3 2018 - Key points

• Global house prices increased by 4.5 per cent in the past quarter.
• Chinese city Xi'an topped the index with a price growth of 20 per cent.
• Asia-Pacific remains the top performing world region with a 6.2 per cent increase across the past 12 months.

Knight Frank Asia Pacific Head of Research Nicholas Holt said the region's days at the top could be numbered.

 “While the Asia-Pacific region continues to lead the world in residential price growth this quarter, its pole position is looking more at risk following the introduction of cooling measures, rising interest rates, and waning buyer sentiment," he said.

Source: Knight Frank

"A combination of these factors will likely lead to slowing growth momentum as we head into 2019."

According to the index, global prices experienced an increase of 4.5 per cent in the past quarter, with 123 cities registering a rise in residential prices throughout a 12-month period.

Major Australian cities Sydney (-4.4 per cent), Melbourne (-1.5 per cent) and Perth (-0.5 per cent) all recorded price declines in the last quarter.

Source: Knight Frank

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