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Australia makes the top four
Released 7 July 2010

A survey by Knight Frank has revealed that Australia is the fourth-fastest-growing property market in the world. This is largely due to a 20 per cent price jump in the past year, according to the international real estate agency.

The survey also found that China overtook Hong Kong as the hottest housing market, with a 68 per cent annual price rise.

"The top four positions in our rankings are all occupied by Asia-Pacific locations," says Liam Bailey, Head of Residential Research at Knight Frank.

The report says that each quarter provided new evidence of recovery. But Australian Research Director Matt Whitby is cautious. "It remains to be seen if this is another period of sustained growth or the middle peak in a double-dip recession," he says.