International house prices have defied rising interest rates this year, growing at more than 10% in some European countries, and many analysts expect residential property to remain resilient in 2007.
The most notable growth has been in Ireland, where house prices have more than trebled since 1992 in real terms taking into account the effects of inflation.
Annual house price growth in Ireland accelerated again this year to 15% in the three months to September compared with the same quarter last year, according to RICS.
Spain slowed from 13% annual growth last year to a still robust 10% this year.
Annual house price growth in Canada, Norway and Sweden was more than 10%.
References: Financial Times page 7 30/12/06
