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Asia to become world’s most profitable property market

Posted on 07 March 2013 by Laxman  |  Email |Print

Report by Aviva Investors notes improving global conditions for real estate, highlighting Asia Pacific as offering the highest potential returns. Asia Pacific’s commercial real estate sector is poised to offer the ‘highest potential returns’ among global property markets over the next five years, according to Aviva Investors.
A recent report published by the asset manager forecasts an average annual return of between 9% and 11% from 2013 to 2017 for the sector in the Asia Pacific ex-Japan region. In particular higher-yielding sectors such as industrials in China and Australia are likely to drive performance in the region………………………………………..Full Article: Source

Home prices jump 9.7pct in January: CoreLogic

Posted on 06 March 2013 by Laxman  |  Email |Print

Home prices jumped 9.7% in January from a year before and are on track for similar increases for February, market watcher CoreLogic says. The gain marks the biggest year-over-year increase in almost seven years and the 11th consecutive monthly increase.
Home prices jumped 9.7% in January from a year before and are on track for similar increases for February, market watcher CoreLogic says. The gain marks the biggest year-over-year increase in almost seven years and the 11th consecutive monthly increase………………………………………..Full Article: Source

UK house prices unchanged compared with a year ago, says latest Nationwide index

Posted on 06 March 2013 by Laxman  |  Email |Print

The price of a typical home in the UK is unchanged from a year ago, with values rising just 0.2% last month, according to the latest house price index from the Nationwide. The average house price is now £162,638 and annual house price growth has been flat for two months in a row.
But there are positive signs as well, said Nationwide chief economist Robert Gardner. ‘While activity in the housing market remains subdued by historic standards, there have been tentative signs of a pick up in recent months. The Funding for Lending Scheme has achieved some success in bringing down mortgage rates, with encouraging signs of an improvement in credit availability,’ he explained………………………………………..Full Article: Source

QCB’s real estate index suggests stable market

Posted on 06 March 2013 by Laxman  |  Email |Print

An update on Qatar Central Bank’s (QCB) recently-launched real estate price index indicates that the country’s real estate sector has been largely stable over the past several months. The index shows that the market was overall stable all along the first half of 2012, hovering on 150 plus levels throughout December 2011 to December 2012, after dipping to a low of 91.3 in April 2009 from a peak of 192.2 in August 2008.
Developers and market experts said the QCB initiative will help keep the amateur market players at bay and will support the professional investors in Qatar’s property market………………………………………..Full Article: Source

S. Korea’s housing market suffers 8th decline

Posted on 05 March 2013 by Laxman  |  Email |Print

Residential real estate prices across South Korea declined in February. This marks the eighth straight month to report their worst annual decline in about three and a half years, according to data from the country’s top lender disclosed.
The data from Kookmin Bank showed that home prices last month dropped 0.1 percent as compared to January and fell 0.5 percent from a year ago, highlighting a continued weakness in the local property market weighed down by doubtful economic expansion outlook. The annual pace of fall scored the sharpest since September 2009, the data showed………………………………………..Full Article: Source

House prices surge for second month in a row

Posted on 04 March 2013 by Laxman  |  Email |Print

The property market is growing again with house prices rising at a rate of £100 a week, Britain’s biggest building society reported. The surge in values since the start of the year is thanks to record low mortgage rates and an £80billion Government lending scheme.
House prices were up 0.2 per cent month-on-month in February and a typical three-bed semi now costs £162,638, a rise of £393 in four weeks, the Nationwide said. This follows an increase of 0.5 per cent in January………………………………………..Full Article: Source

IPD: Positive total return for Dutch property in 2012

Posted on 04 March 2013 by Laxman  |  Email |Print

The IPD Netherlands Annual Property Index showed that all sectors of Dutch investment property delivered a total return of 1.2% in 2012, compared with 3.9% in 2011. Due to inflation (CPI) of 2.9%, real return showed a return of -1.6% in December 2012, again compared with -2.0% in December 2011.
These results show that the property investment market is not safe from the Dutch economy, which has slipped into a third recession since the beginning of 2009………………………………………..Full Article: Source

China’s new home prices increase for ninth month, SouFun reports

Posted on 01 March 2013 by Laxman  |  Email |Print

China’s new home prices rose for a ninth month in February, adding to concerns that the government may issue new property tightening policies.
Prices climbed 0.8 percent to 9,893 yuan ($1,590) per square meter (10.76 square feet) from December, SouFun Holdings Ltd. (SFUN), the country’s biggest real estate website owner, said in a statement today after a survey of 100 cities………………………………………..Full Article: Source

Builders fuel home sale rise

Posted on 28 February 2013 by Laxman  |  Email |Print

Sales of new homes are surging in the U.S., far outpacing results for less expensive existing homes and creating an unusual disparity in the housing recovery.
The trend partly reflects the small inventory of previously owned homes, now at a 13-year low after investors picked over the long-depressed market. But the strong sales of new homes also show how the nation’s home builders have mastered the art of selling, even to cash-poor buyers or those with spotty credit histories………………………………………..Full Article: Source

U.S: Home prices up 6.8pct in ‘12, biggest gain in 6 years

Posted on 27 February 2013 by Laxman  |  Email |Print

A dwindling supply of homes for sale is helping prices. The Standard & Poor’s/Case-Shiller home price index for December shows home prices posted the biggest year-over-year increase last year in six years.
Boosted by decreasing inventory and increasing demand, the 20-city index shows prices rose 6.8% in 2012 compared to the year before with price hikes in 19 of 20 major cities tracked, according to the report released Tuesday. Only New York fell, down 0.5%………………………………………..Full Article: Source

Shiller’s bottom line: Risk lingers in housing

Posted on 27 February 2013 by Laxman  |  Email |Print

It’s possible that home prices have hit a bottom, but heavy government involvement to stabilize the mortgage market and the broader economy has made it harder to gauge the durability of recent home-price gains, says Yale economist Robert Shiller, the co-creator of the S&P/Case-Shiller index that bears his name.
The Case-Shiller 20-city index was up by more than 8% in November from its February 2012 trough as falling supplies of homes for sale and stronger demand have boosted prices. Developments spoke with Mr. Shiller on Monday about his outlook for U.S. housing markets right now………………………………………..Full Article: Source

Danish property market follows European trend

Posted on 27 February 2013 by Laxman  |  Email |Print

The IPD Denmark Annual Property Index showed that Danish property delivered a total return of 3.8% in 2012. This is a slight decrease of 1.0 percentage points compared with 2011, and is 4.6 percentage points lower than the 13-year historical annualised total return of 8.4%pa, which IPD has reported on since 2000.
Property underperformed slightly against bonds at 5.6% (JP Morgan 7-10 Year Danish Government Bond Index), but significantly against equities at 30% (MSCI Denmark Equities) in 2012………………………………………..Full Article: Source

Canada’s housing affordability improves in fourth quarter: RBC

Posted on 26 February 2013 by Laxman  |  Email |Print

Small declines in home prices and mortgage rates made Canadian home ownership slightly more affordable in the fourth quarter of 2012, the second straight improvement, and soft home buyer demand may help continue the trend in 2013, according to a report by RBC Economics released on Monday.
RBC, Canada’s largest bank and a huge mortgage lender, measures affordability as the percentage of monthly pre-tax income for a household needed to cover the typical costs of owning a home, including mortgage payments, utilities and property taxes………………………………………..Full Article: Source

U.S. hotel market performance upticks in January

Posted on 26 February 2013 by Laxman  |  Email |Print

According to STR, the U.S. hotel industry reported increases in all three key performance metrics during January 2013. Overall, the U.S. hotel industry’s occupancy rose 3.6 percent to 51.0 percent, its average daily rate was up 5.1 percent to US$105.96 and its revenue per available room increased 8.8 percent to US$54.02.

“January RevPAR growth rate was the strongest performance we’ve seen since June 2012,” said Brad Garner, STR’s COO. “The results were driven both by solid ADR and demand gains with Washington D.C., Miami and New York among the top performers………………………………………..Full Article: Source

India: House prices rise by up to 9.6pct despite high rates

Posted on 26 February 2013 by Laxman  |  Email |Print

Despite high interest rates, housing prices have risen in 18 out of 20 cities, says National Housing Bank (NHB). According to NHB’s RESIDEX, residential property prices in Delhi and Mumbai have seen the highest surge of 9.6% each during October-December period 2012 compared with the July-September quarter.
In the last one year, property prices in Delhi have risen by 16.8% as against 12.4% in Mumbai. While only two cities - Indore (-1%) and Faridabad (-5.1%) - have witnessed a fall in housing prices, residential property prices have gone up in eighteen cities, ranging from 0.6% in Chennai to 9.6% in Delhi and Mumbai………………………………………..Full Article: Source

Property prices rise in key Indian cities in Dec quarter

Posted on 26 February 2013 by Laxman  |  Email |Print

Mumbai and Delhi lead the list with prices rising 9.6% in both cities. Key Indian cities, including Mumbai, Delhi, Bangalore, Ahmedabad, Kolkata and Chennai, have seen a significant rise in residential property prices in the quarter ended December from the preceding quarter when they either remained stable or went up marginally, according to the National Housing Bank (NHB) Residex released on Monday.
Of the 20 cities covered by the Residex, prices rose in 18 during the quarter. Mumbai and Delhi led the list with prices rising 9.6% in both cities, followed by Kolkata (9.4%), Patna (9.4%), Kochi (8.8%), Surat (8.7%), Bangalore (8.2%), Lucknow (8%), Hyderabad (7.1%), Ludhiana (6.5%), Ahmedabad (6.1%), Guwahati (5.1%), Bhopal (4.9%), Bhubneswar (2.4%), Jaipur (2.4%), Vijayawada (2.2%), Pune (2.0%) and Chennai (0.6%)………………………………………..Full Article: Source

Hong Kong property sales fall on fresh housing curbs

Posted on 26 February 2013 by Laxman  |  Email |Print

Real estate agents in Hong Kong are reporting that its government’s latest measures to rein in one of the world’s most exuberant property markets had been an overnight success. After Friday’s announcement by the special administrative region’s administration that it is imposing higher stamp duties on property transactions along with home loan curbs, buying activity fell drastically over the weekend.
On Friday (February 22), Hong Kong government officials announced a new round of measures to stabilise the SAR’s housing market and overall financial system………………………………………..Full Article: Source

Real estate investments rose to 45 pct in Makkah in 2012

Posted on 25 February 2013 by Laxman  |  Email |Print

There is no doubt that Saudi Arabia’s real estate sector is poised to witness a boom in offering tremendous growth opportunities this year. This is due to the much-anticipated approval of the mortgage law, implementation of affordable housing projects and growth of the hotel and hospitality sector, as the industry further taps into religious tourism, which is expected to contribute to sector growth of more than 20 percent in 2013 alone.
It is for this reason that this year’s Cityscape Jeddah assumes importance……………………………………….Full Article: Source

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US housing market gathers steam after January home sales increase

Posted on 22 February 2013 by Laxman  |  Email |Print

Existing home sales rise by 0.4% to 4.92 million, adding momentum to recovery from effects of 2007-09 recession. US home resales edged higher in January and left the supply of homes at its lowest level in 13 years, a sign that steam is gathering in the US housing market.
The National Association of Realtors said on Thursday that existing home sales rose 0.4% last month to a seasonally adjusted annual rate of 4.92 million units. That was the second highest rate of sales since November 2009, when a federal tax credit for home buyers was due to expire. Analysts polled by Reuters had forecast a 4.9 million-unit rate……………………………………Full Article: Source

C&W: London regains worlds most expensive office market crown

Posted on 22 February 2013 by Laxman  |  Email |Print

London’s West End is the world’s most expensive office market once again after regaining its crown from Hong Kong’s Central Business District (CBD), according to research published today in Cushman & Wakefield’s ‘Office Space Across the World 2013′.
The report highlights the scarcity of quality space in London which has increased competition and consequently inflated office rents by 2% in the West End to make them the most expensive in the world……………………………………Full Article: Source

US: Housing starts fall 8.5pct in January

Posted on 21 February 2013 by Laxman  |  Email |Print

Housing starts fell 8.5% in January after surging 15.7% the month before, the Commerce Department said Wednesday. The government’s report suggests home builders began work at a slower pace in 2013 than expected though the level was still the third highest since 2008. And new-home starts are likely to pick up in coming months. The number of houses built in 2012 was the most in four years.
The number disappointed analysts who had been expecting January to add on to several months of evidence the housing market rebound is gaining momentum……………………………………Full Article: Source

UK: An improving market? More house-sellers stick to the asking price

Posted on 21 February 2013 by Laxman  |  Email |Print

Less than a third of current house sellers have knocked some cash off their asking price, in a further sign that confidence is returning to the market, a property website said. Some 31% of homes on the market have had the asking price cut, marking the lowest proportion recorded in two-and-a-half years and a sharp drop from 37% a year ago, Zoopla said.
The website suggested that sellers are becoming more likely to hold firm on their asking prices amid signs that the market is improving……………………………………Full Article: Source

S&P raises outlook on China property

Posted on 21 February 2013 by Laxman  |  Email |Print

Standard & Poor’s raised its outlook for China’s housing sector from negative to stable, with the rating agency highlighting strong sales momentum and stable financing for developers.
The upgrade, coming less than two years after S&P cut the country’s property developers to a negative outlook, is the latest sign of a turnround in China’s real estate market that began last year……………………………………Full Article: Source

UK house price optimism hits highest level since 2010

Posted on 20 February 2013 by Laxman  |  Email |Print

Optimism over house prices in the UK has hit the highest level since 2010, according to Knight Frank. The firm’s latest House Price Sentiment Index shows that households in all 11 monitored UK regions expect that the value of their home will rise over the next 12 months - the first time that all regions expect price growth for more than two and a half years.
The positive outlook arrives despite the fact that households perceived the value of their homes dropped in February. Some 8.5% of the 1,500 homeowners across surveyed across the UK said that the value of their home had risen over the last month, while 11.7% said the value of their home had fallen. The result index rating of 48.4 is up from 47.6 in January and marks the highest reading in 31 months…………………………………Full Article: Source

Why do house price indexes vary so much?

Posted on 20 February 2013 by Laxman  |  Email |Print

House price indexes come in all shapes and sizes, which can be perplexing for people uninitiated in the art of house price academia and methodology, writes David Newnes, director of LSL Property Services.
In truth, house price indexes aren’t as arcane and esoteric as they first appear. In fact, there are important differences which make some indexes considerably better than others. There are five major indices, produced by Halifax, Nationwide, LSL Property Services/Acadametrics, the Office of National Statistics (ONS), and the Land Registry…………………………………Full Article: Source

Australian retail, office prices fall as rents decline, NAB says

Posted on 20 February 2013 by Laxman  |  Email |Print

Australian retail and office property prices fell in the three months to Dec. 31 as rents declined, a private survey showed. Retail property capital values dropped 1.4 percent in the last quarter of 2012, while industrial property values slipped 1.2 percent and offices weakened 0.6 percent, according to a National Australia Bank Ltd. survey released today. Rents eased in all markets in the period, led by a 2.1 percent decline in retail, NAB said.
Retail sales unexpectedly fell for a third month in December, the longest stretch of declines in 13 years, a government report showed Feb. 6. The Reserve Bank of Australia cut the benchmark interest rate to 3 percent in December, matching a half-century low, in a bid to spur non-mining areas of the economy…………………………………Full Article: Source

Global office real estate values and rents remained steady in Q4 2012

Posted on 20 February 2013 by Laxman  |  Email |Print

Property value and rent growth continued in the Americas, balancing flat performance and modest declines in the EMEA and Asia Pacific markets. Global office real estate values and rents remained steady in Q4 2012, according to CBRE Group, Inc. The CBRE Global Office Capital Value Index rose slightly with a gain of 0.6% for Q4, while the CBRE Global Office Rent Index also edged up in Q4, rising 0.3%.
“Considering the degree of uncertainty and caution permeating the global economy through the end of 2012, the performance of commercial real estate assets has been resilient. Fundamentals in absorption, occupancies and rents have seen gradual improvements while new supply is scarce, a dynamic which has maintained and improved the leasing market. Strong occupier and investor demand for prime space in the most desirable locations has played a significant role in the ongoing commercial real estate recovery as well,” said Dr. Raymond Torto, CBRE Global Chief Economist…………………………………Full Article: Source

Argentina: Housing market fell 21pct in 2012

Posted on 19 February 2013 by Laxman  |  Email |Print

The real estate market in Buenos Aires fell 21.16% in value of sales in 2012, according to a report by the city’s Notary Public Association. The number of sales in the housing market, 46,625, was down roughly 27% compared to this time period in 2011.
The biggest decrease occurred in the month of September, when about 46% fewer deeds were purchased than in September 2011. There are signs, however, than an improvement is in sight. Slight increases were registered in the final three months of 2012, in comparison to the previous respective periods…………………………………….Full Article: Source

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UK: House prices ‘hit five-year high’

Posted on 19 February 2013 by Laxman  |  Email |Print

The housing market has made a “sprightly” start to 2013, with asking prices reaching their highest levels for February since 2008, a property search website said on Monday. Prices jumped by 2.8pc month-on-month to reach £235,741 on average, with big monthly leaps of around 5pc recorded in the North West of England and Wales, Rightmove said.
Prices are 1.1pc higher than a year ago and are just £2,115 shy of a February record set in 2008, showing the market is making a “slow but steady recovery,” the study said…………………………………….Full Article: Source

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Breakdown of U.S. housing prices shows gains almost everywhere

Posted on 18 February 2013 by Laxman  |  Email |Print

The latest numbers from the field are in, and the news is good. Housing prices were up almost everywhere across the country in 2012. Of the 134 core-based statistical areas (CBSAs) that reported 500 or more sales last year, 123 saw gains, according to year-over-year data collected as of Dec. 31 by Pro Teck Valuation Services of Waltham, Mass. CBSAs are defined as “micropolitan” areas of at least 10,000 people who are tied to an urban center by commuting.
Some increases were exceptional, such as the nearly 35% jump in the price per square foot in the Phoenix CBSA and 25% each in San Jose and Fort Myers, Fla. Others were minuscule, such as the 0.23% increase in Salem, Ore., or the 0.26% gain in Nassau County, N.Y………………………………………..Full Article: Source

Housing probably cooled at start of 2013

Posted on 18 February 2013 by Laxman  |  Email |Print

New residential construction cooled in January and U.S. existing-home sales slowed after the strongest year since 2007, representing a break in the momentum for the industry, economists said before reports this week.
Builders started work on 920,000 houses at an annual rate following December’s 954,000 pace that was the fastest since June 2008, according to the median forecast of 73 economists surveyed by Bloomberg before Commerce Department data on Feb. 20. Purchases of previously owned properties fell, while the cost of living was contained, other figures may show………………………………………..Full Article: Source

Savills: Spanish investment volume records 10pct year-on-year rise

Posted on 18 February 2013 by Laxman  |  Email |Print

Savills latest Spanish research report shows that a fourth quarter pick-up in activity in Spain’s commercial property market resulted in a 10% year-on-year rise in investment volume in 2012, to €2.1 billion.
However, the international real estate advisor highlights that 50% of this year-end total is accounted for by three individual transactions, namely the sale of Torre Picasso for €400 million, the purchase of the Canalejas complex, Banco Santander’s headquarters in Madrid, by Villar Mir group for €215 million and the purchase of the 439 CaixaBank bank branches………………………………………..Full Article: Source

Doha property deals up 20pct in 2012

Posted on 18 February 2013 by Laxman  |  Email |Print

Doha property sales volumes increased 20 percent in 2012, reaching 7,000 transactions, according to real estate services firm Asteco.The value of property sales in Doha Municipality increased by 35 percent in comparison to the previous year. According to the Asteco 4Q2012 Qatar report, most of the sales were registered in non-freehold areas, where only Qatar and GCC nationals can buy land.
The total value of transactions for apartment blocks in non-freehold areas increased by 87 percent in Q4 compared with Q3, with the volume of transactions up by 42 percent during the same period, Asteco reported………………………………………..Full Article: Source

India: Realty players upbeat as sales begin to pick up

Posted on 18 February 2013 by Laxman  |  Email |Print

Improved sales and customer enquiries are helping listed realty players get back on track. Most players have reported growth in net profit in the third quarter ended December 2012, prompting industry watchers to claim that the slowdown in the real estate segment is bottoming out.
Both Unitech and DLF have reported growth in profits after almost nine straight quarters. The two largest listed players said they were ramping up construction activity in the coming quarters. DLF said it had reduced its debt by Rs 1,870 crore by selling its non-core assets………………………………………..Full Article: Source

Savills: Spanish investment volume records 10pct year-on-year rise

Posted on 15 February 2013 by Laxman  |  Email |Print

Savills latest Spanish research report shows that a fourth quarter pick-up in activity in Spain’s commercial property market resulted in a 10% year-on-year rise in investment volume in 2012, to €2.1 billion.
However, the international real estate advisor highlights that 50% of this year-end total is accounted for by three individual transactions, namely the sale of Torre Picasso for €400 million, the purchase of the Canalejas complex, Banco Santander’s headquarters in Madrid, by Villar Mir group for €215 million and the purchase of the 439 CaixaBank bank branches………………………………………..Full Article: Source

Strong performance in Canadian real estate continues

Posted on 14 February 2013 by Laxman  |  Email |Print

Canadian commercial real estate delivered another strong performance in 2012, as measured by the REALpac / IPD Canada Annual Property Index. The annual total return of 14.1% continued Canada’s strong performance.
Real estate outperformed public equities (7.5%), bonds (3.0%) and inflation (0.8%). (Equities are based on the MSCI Canada Index. Bonds are based on the JP Morgan 7-10 Year Government Bond Index. Inflation is based on data from Statistics Canada). Looking at the 13 year history of the REALpac / IPD Canada Annual Property Index, 2012 was the 5th highest annual total return ever………………………………………..Full Article: Source

UK commercial property performance stable

Posted on 14 February 2013 by Laxman  |  Email |Print

CBRE’s latest Monthly Index was largely unchanged to the end of January 2013. The All UK Property segment recorded a total return of 0.3% in the month, unchanged from December with annual total returns picking up slightly to 2.1%. Capital values continued to slip, declining 0.2% in January, which was also a repeat of the declines recorded in the final two months of 2012.
In January, for the ninth month running, central London offices were the only sector where capital values increased, up by 0.3%. In offices outside of the capital, values fell by 1.1% over the month………………………………………..Full Article: Source

Strong market growth follows stable returns in German real estate funds

Posted on 13 February 2013 by Laxman  |  Email |Print

In the last three months of 2012, the quarterly performance of all funds in the IPD/BVI German Quarterly Spezialfonds Index was 0.5%, up from 0.2% in the third quarter. The sub-index for funds mainly invested in Germany stood at 0.8%, substantially higher than for funds focused on European markets, which registered 0.1%.
German institutional property funds produced a total return of 1.8% at the fund level (NAV) in 2012. Funds with an investment focus on Germany substantially outperformed the market, with an annual return of 3.5% as against 0.6% for funds with a European focus. These are findings of the latest quarterly report by IPD, for Q4 2012, and the year 2012 as a whole………………………………………..Full Article: Source

Turnover of real estate market in Azerbaijan grew by 25pct up to AZN 3 bn and income of mediators by 2.3 times

Posted on 13 February 2013 by Laxman  |  Email |Print

The Central Bank of Azerbaijan reports that turnover of country’s residential property market for 2012 increased by 24.86% against 2011. According to the CBA, turnover of residential property (the cash flow of notary’s offices) reached AZN 2.828 bn by 1 January 2013 versus AZN 2.265 bn a year earlier.
At the same time transfers to notary’s offices accounts for purchase/sale of residential real estate by individuals totaled AZN 1.599 bn by 1 January 2013 versus AZN 1.2 bn a year earlier (+31.81%), and the withdrawals from these accounts AZN 1.228 bn versus AZN 1.05 bn (+16.84%)………………………………………..Full Article: Source

Estonia: Real estate transactions up by 12pct

Posted on 13 February 2013 by Laxman  |  Email |Print

According to Statistics Estonia, in 2012, 36,176 purchase-sale transactions of real estate in the total value of 1.7 billion euros were notarised.In 2012, the number of transactions increased by 12% compared to 2011 and the total value of transactions increased by 13%.
Compared to the real estate slump in 2009, the number of transactions increased by 38%, while compared to the boom year 2006, transaction activity is still 40% below the level of that year………………………………………..Full Article: Source

NZ: House prices down sharply in January

Posted on 13 February 2013 by Laxman  |  Email |Print

The Real Estate Institute says a sharp fall in the median house price in January is not the start of a bigger correction in prices. The median price fell back from its all-time high of $389,000 in December 2012 to $370,000 last month.
The 4.9% fall in the median house price between December and January was the largest monthly fall since Real Estate Institute records began in 1992. But chief executive Helen O’Sullivan says once the size and quality of the houses is accounted, the median price fell just 1% during the month………………………………………..Full Article: Source

Global real estate investments to hit $500bln

Posted on 12 February 2013 by Laxman  |  Email |Print

The direct investment into commercial real estate globally is on a high and the volumes are likely to reach a whopping $500 billion in 2013 from $443 billion in 2012, due to increased levels of demand for real estate coupled with a strategic reallocation towards this asset class by institutional investors, said a new report.
The volumes in the Europe, Middle East and Africa (EMEA) are likely to remain the same in 2013 as those achieved in 2012, according to the latest research from property expert Jones Lang LaSalle (JLL)………………………………………..Full Article: Source

Global listed property outperforms global equities by 8.6pct

Posted on 12 February 2013 by Laxman  |  Email |Print

Due to investor appetite for yield and safe-haven sectors, global listed property had significantly outperformed most major asset classes during 2012, a research paper reveals. While fund performance has been impressive in an absolute sense, the Lonsec Global Property Securities Fund Sector Review rates the relative performance as somewhat disappointing.
The Lonsec report reveals that global property securities outperformed global equities by 8.6% over the year to November 2012, and by 8.7% annually over a three-year period………………………………………..Full Article: Source

Global listed property fund managers under-perform benchmark

Posted on 12 February 2013 by Laxman  |  Email |Print

The last 12 months saw both major global listed property indices return over 25 per cent to November 2012, but most fund managers fell short of the benchmark, according to the Lonsec Global Property Securities Fund Sector Review.
The sector largely rebounded from the lows experienced during the global financial crisis, outperforming global equities by 8.6 per cent over the year and 8.7 per cent over a three-year period, Lonsec stated. Despite this, the relative performance of funds was difficult to determine since a number of funds are benchmarked to different indices, Lonsec senior investment analyst Andrew Coutts said………………………………………..Full Article: Source

Home prices rise in 88pct of U.S. cities as recovery gains

Posted on 12 February 2013 by Laxman  |  Email |Print

Prices for single-family homes climbed in almost 88 percent of U.S. cities in the fourth quarter as the housing recovery broadened. The median sales price rose from a year earlier in 133 of 152 metropolitan areas measured, the National Association of Realtors said in a report. In the third quarter, 120 areas had gains.
An improving job market and low interest rates are driving up prices by fueling demand for a tightening supply of listings. The national median price for an existing single-family home was $178,900 in the fourth quarter, up 10 percent from the same period last year. That was the biggest gain since 2005, according to the Realtors group………………………………………..Full Article: Source

U.K. house-price index falls as snow disrupts market, RICS says

Posted on 12 February 2013 by Laxman  |  Email |Print

An index of U.K. house prices fell in January as heavy snow affecting most of the country depressed interest from potential buyers, according to the Royal Institution of Chartered Surveyors.
A gauge by London-based RICS declined to minus 4 from minus 1 in December, it said in an e-mailed report today, citing a monthly poll of property surveyors. While a measure of new buyer inquiries fell to minus 9 from 10, the outlook for home values improved, it said………………………………………..Full Article: Source

UK: Commercial property investors lose almost 12pct

Posted on 12 February 2013 by Laxman  |  Email |Print

Investors in UK commercial property funds have lost almost 12 per cent over the last five years, according to housing investment and equity mortgage provider Castle Trust. Castle Trust’s research analysed the returns received from 42 funds in the IMA Property Sector which found that the best return from the 14 funds focused on the UK over five years is +1 per cent while the worst is -26.6 per cent, with the sector averaging losses of 11.4 per cent.
The research also showed that 34 per cent of financial advisers expect increased activity in the UK residential property market during 2013 as the sector begins to recover………………………………………..Full Article: Source

Italian listed RE funds bounce in January – BNP PRE

Posted on 12 February 2013 by Laxman  |  Email |Print

Italian listed property funds recovered strongly in January, bouncing back to April 2012 levels after a continuous negative trend since March 2011, says realtor BNP Paribas Real Estate.
The BNP Paribas REIM Italian Index measuring property fund performance rose by 15.5% on December, almost fully recovering the loss of last year, BNPRE said in its regular monthly report. As a consequence, the aggregate discount to net asset value on just over 30 such funds narrowed to just over 50% from its widest of around 60% in autumn………………………………………..Full Article: Source

Canada: Housing starts plunge, revealing weaker than expected market

Posted on 11 February 2013 by Laxman  |  Email |Print

Canadian housing starts plunged in January as both single and multiple starts fell, particularly in Ontario, Canada Mortgage and Housing Corp said on Friday in a report that showed the housing market was even weaker than expected.
The agency says there were 9,904 actual starts last month, compared with 13,038 in January 2012. The seasonally adjusted annualized rate of housing starts was 160,577 units in January, down from 197,118 in December. The December figure was revised down from the 197,976 units reported previously………………………………………..Full Article: Source

U.K. property prices increased in January, Acadametrics says

Posted on 08 February 2013 by Laxman  |  Email |Print

U.K. house prices rose in January as strains in the mortgage market eased and funding costs fell, Acadametrics Ltd. said. The average price of a home in England and Wales increased 0.2 percent to 227,478 pounds ($357,300), Acadametrics and LSL Property Services Plc said in a monthly report published in London today. From a year earlier, values gained 3.1 percent.
The Bank of England’s Funding for Lending Scheme has shown “encouraging signs,” though it’s still early days to gauge its success, Governor-designate Mark Carney said……………………………………….Full Article: Source

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