Australia climbs 25 places on global house price index thanks 10.2% growth
A 10.2% rise in average house prices across Australia over the past year has seen it rise 25 places in a global house price index.
Knight Frank’s Global House Price Index for Q3 2017 places Australia seventh out of the 56 countries studied, with rankings based on the extent of house price growth seen over the previous 12 months.
Amid a backdrop of markets witnessing slowing growth, Australia’s rise up the rankings goes against the general trend, with New Zealand dropping out of the top 10.
- Land prices in Sydney and Melbourne soar amid housing affordability warnings
- Sydney’s housing market cools as prices drop in Q3
- Read the December edition of Business Review Australia
Iceland leads the annual rankings with average prices ending the year to September 20.4% higher, down from 23.2% last quarter. Iceland has now topped the Knight Frank list for four consecutive quarters.
Much has been made of rocketing real estate prices in Sydney, with residential land in the NSW capital now worth more than $1,000/sqm after increasing by 9.8% in the 12 months to June 2017.
Indeed, according to Knight Frank, average house prices in Australia have risen by over 45% over the past five years, placing inside the top 10 behind the likes of Malaysia, Hong Kong, New Zealand and Turkey, where prices have soared by 95.3% in this time.
Timeline: India takes unicorn leap with six in five days
We chart an historic week in India’s tech industry, where in just five days, between 5-9 April 2021, the country achieved six new unicorns, bringing India’s total to 10 in 2021 to date, an immense unicorn leap from just seven in 2020 and six in 2019.
April 5: Meesho
India’s first social commerce unicorn, Meesho raised US$300m from SoftBank, Facebook and Shunwei Capital, giving the Bangalore-based startup a US$2.1bn valuation, a threefold jump from its previous funding round in 2019. Founded in 2015 by two IIT-Delhi graduates, Meesho connects producers and resellers, helping small businesses sell through social media. It has 45m customers and has enabled 13m entrepreneurs to start their online businesses with no investment.
April 6: CRED
Founded just over two years ago, Bangalore-based credit card repayment app CRED raised US$215m from Falcon Edge Capital and Coatue, nearly trebling its valuation to US$2.2bn from its January US$80m round. Allowing customers to pay off their credit card debt while earning CRED coins which they cash in for rewards, CRED has grown rapidly during COVID-19, doubling its customer base to nearly 6 million in a year.
April 7: API Holdings / Groww
The first epharmacy startup to gain unicorn status, PharmEasy (API Holdings), which has digitised 60,000 brick and mortar pharmacies and 400 doctors across India, raised US$350m in a round led by Prosus Ventures. Founded by four former Flipkart employees as a way of making investing simple, investment platform Groww became India’s second-youngest fintech unicorn, raising US$83m in Series D funding led by Tiger Global, quadrupling its previous round in September.
April 8: ShareChat
New Delhi-grown social media startup ShareChat, founded in 2016 by Mohalla Tech raised US$502m from Lightspeed Ventures, Tiger Global, Twitter and Snap taking its raised total over six rounds to US$766m and pushing its valuation to US$2.1bn. The funding will be used to grow its user base and short video platform Moj, which launched in 2020 following TikTok’s ban in India. The regional language startup claims 280m users.
April 9: Gupshup
AI-led conversational message startup joined the unicorn club after raising US$100m from Tiger Global giving it a ten-fold valuation of US$1.4bn. The smart messaging platform, which has seen accelerated growth during the pandemic, was founded in Bangalore in 2005 by serial entrepreneur Beerud Sheth, whose online freelancing platform Elance is now listed. Gupshup’s API enables 100,000+ businesses to build messaging and conversation experiences across 30+ communication channels.