NZ house prices 15th

New Zealand house prices are ranked 15th on a list of 47 countries based on percentage change compiled by property consultancy Knight Frank.

NZ was up 6.8 per cent comparing the first quarter of last year with this year's first quarter.

Fastest-rising areas were key Chinese cities (up 68 per cent), Hong Kong (up 30.6 per cent), Singapore (up 24.3 per cent) and Australia (up 20 per cent).

Ireland, Latvia, Lithuania, Ukraine and Estonia (down 40.3 per cent) had the biggest price falls.