A Runaway Surge In Global House Prices Drawing To A Close: Report

A runaway surge in global house prices is drawing to a close as interest rates rise along with the cost of living, according to Reuters polls of housing analysts, who said prices needed to fall in double digits in several key markets to turn affordable.

Ultra-low interest rates and strong demand from remote workers which helped house prices in most major economies to outpace not only real wages but also returns on their respective stock markets was now coming to an end.

What was not ending yet was the rise in consumer inflation, which is above most central bank's targeted ranges and in several cases at multi-decade highs, setting the stage for more rate hikes to come over the coming months.