Global Macro Service > Research Briefings > Global

Assessing the risks from high house prices

The elevated level of global house prices is showing signs of weighing on prices, with potentially negative implications for growth. Our set of cross-country risk indicators points to housing market dangers being especially acute in Sweden, Australia, Canada and Hong Kong. For most advanced economies, the absence of rising interest rates is supportive for housing, but sharp rate rises in some emerging markets since March could trigger price declines.

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