How the invasion in Ukraine may impact the housing market

“On the other hand, it may also reduce the number and speed of interest rate hikes that some central banks were pricing in only a few weeks ago.”

“The crisis in Ukraine will lead to weaker global economic growth, tempering our outlook for international house prices,” according to Ms. Everett-Allen. “On the other hand, it may also reduce the number and speed of interest rate hikes that some central banks were pricing in only a few weeks ago.”

Globally, house prices increased by 10.3% on average in 2021. We expect more muted growth in 2022 as risks mount. 

There was a divergence between nominal and real price in the final quarter of 2021 with real price growth moderating from 6.2% in Q3 to 4.7% in Q4. 

This is the first time we have witnessed a slowing rate of annual growth since the start of the pandemic.

Find out more in the report.