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Property market still strong in Auckland

Posted on 08 April 2013 by Laxman  |  Email |Print

The average asking price for houses in Auckland and Canterbury climbed further in March, reaching their second-highest recorded figures of $610,628 and $438,298 respectively. Nationally, the property market stabilised, and the 12,732 new listings in March did little to ease the record low in inventory seen in February, according to the New Zealand Property Report compiled by website Realestate.co.nz.
The average asking price, a seasonally adjusted mean, of $444,883 was only a small increase on February, but was 4 per cent up on the same time last year, and close to the $446,277 record set in November 2012………………………………………..Full Article: Source

Fitch: Swiss property merits caution even if no general bubble

Posted on 05 April 2013 by Laxman  |  Email |Print

Uncertainty over the path of Swiss property prices has increased over the last year, however, Fitch Ratings maintains its view that the market as a whole is still not experiencing a bubble. To reflect the increased uncertainty, we have introduced a buffer in our house price decline assumptions (HPD).
House prices have risen faster than general income levels since 2000, and the decoupling of house prices and real income growth to the point where price rises start to outstrip affordability is now comparable with that seen before the previous Swiss property crisis in the early 1990s. In our view some regions, such as Lake Geneva, Zug, Zurich, and some southern cantons, where price rises have been particularly pronounced, have overheated. (Press Release)

Demand for U.S. office space improves – barely

Posted on 04 April 2013 by Laxman  |  Email |Print

The U.S. office vacancy rate fell only slightly during the first quarter, as a lack of significant job growth continued to impede demand for space, according to a quarterly report released this week.
At the same time, U.S. office construction during the first quarter reached a 14-year low as developers remain spooked by soft demand and meager rent growth, according to real estate research firm Reis Inc………………………………………..Full Article: Source

Average UK home prices set to pass 2007 peak next year

Posted on 04 April 2013 by Laxman  |  Email |Print

The average home in the UK will cost £227,000 in 2014, surpassing the pre-crisis peak for the first time, and reach £267,000 by 2018, according to a new forecast. Also, the Help to Buy scheme announced recently by the UK government could initially raise prices before increasing housing supply, says the forecast from the Centre for Economics and Business Research (CEBR).
CEBR also predicts the average home price will be £222,000 this year, 1.4% higher than in 2012, but just under the peak achieved immediately prior to the financial crisis. In the short term, lacklustre wage growth, domestic banks’ ongoing recapitalisation efforts and Eurozone financial unrest are expected to subdue house price growth this year and next……………………………………….Full Article: Source

Inside the US housing market that Robert Shiller is already calling ‘exuberant’

Posted on 03 April 2013 by Laxman  |  Email |Print

The U.S. housing recovery has been causing home prices to rise. Las Vegas stands out as one of the hottest markets in America with home prices up 15 percent year-over-year.
“More traditional buyers and sellers are sitting out of the market and investors are bidding up prices for foreclosed homes and [homes] at the lower end of the market,” Quinn Eddins at RadarLogic tells Business Insider………………………………………..Full Article: Source

UK: Top 10 cities for renting

Posted on 03 April 2013 by Laxman  |  Email |Print

There’s been a glut of research released in the last couple of weeks about the nicest/cheapest/most affordable places to live in the UK (good news for Harrogate, maybe not so much for Oxford). Here’s another one, from Adzuna but still worth looking at since it contains details about renting too.
So, according to their research, Stoke on Trent, Dudley and Middlesbrough are the UK’s rental hotspots with up to 30% more properties affordable ‘to rent’ than ‘to buy’ in these areas………………………………………..Full Article: Source

What’s happening with the UK property market?

Posted on 02 April 2013 by Laxman  |  Email |Print

U.K. property analysts are scratching their heads and rethinking forecasts after a year of flat prices and the introduction of new government measures designed to spur sales. Nationwide chief economist Robert Gardner, who oversees the Nationwide House Index, describes the market as “unusually uncertain.”
Outside of London, where prices continue to soar, the U.K. housing market is still wallowing in post-recession malaise. There is little demand, few new housing developments and both buyers and sellers are wary of another European catastrophe around the corner………………………………………..Full Article: Source

China’s home prices increase most in 26 months, SouFun says

Posted on 02 April 2013 by Laxman  |  Email |Print

China’s March new home prices posted the biggest gain in more than two years as buyers rushed into the market ahead of property curbs by local governments, driving real estate stocks higher.
Prices climbed for the 10th month, rising 1.1 percent to 9,998 yuan ($1,610) per square meter (10.76 square feet) from February, SouFun Holdings Ltd. (SFUN), the country’s biggest real estate website owner, said in a statement today after a survey of 100 cities. That’s the biggest increase since January 2011………………………………………..Full Article: Source

Pending sales of U.S. existing homes decline 0.4pct

Posted on 28 March 2013 by Laxman  |  Email |Print

Americans signed fewer contracts to buy previously owned homes in February, indicating a pause in momentum for an industry that is helping power the economy.
An index of pending home sales fell 0.4 percent to 104.8, the second-highest level since April 2010, after a revised 3.8 percent increase the prior month, the National Association of Realtors reported today in Washington. Contract signings, unadjusted for seasonal variations, increased 5 percent from February 2012………………………………………..Full Article: Source

Home prices growing as fast as before rhe housing collapse: Case-Shiller

Posted on 27 March 2013 by Laxman  |  Email |Print

With the Federal Reserve firmly in support the housing market continues to show signs of substantial improvement. The most widely followed measure of home prices, the S&P/Case-Shiller indexes, rose at its fastest rate since the summer of 2006 in January, data released Tuesday showed.
While prices remain nearly 30% off their pre-housing bubble peaks, a drawing down of the shadow inventory and a continued positive trend in home sales point to further strength ahead, with Barclays’ economic research team estimating home prices will gain between 6% and 7% this year………………………………………..Full Article: Source

Home prices: Biggest rise since housing bubble

Posted on 27 March 2013 by Laxman  |  Email |Print

Home prices continued their recovery, rising 8.1% in January, although a separate report showed a slight slowdown in new-home sales. The S&P Case-Shiller index, which tracks the 20 largest markets in the nation, showed the biggest year-over-year gain in prices since June 2006.
“This marks the highest increase since the housing bubble burst,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices………………………………………..Full Article: Source

Irish house prices: In the year to February 2013 residential property prices fell by 2.6pct

Posted on 27 March 2013 by Laxman  |  Email |Print

Irish House Prices: In the year to February 2013, residential property prices at a national level, fell by 2.6%, according to the CSO. This compares with an annual rate of decline of 3.3% in January and a decline of 17.8% recorded in the twelve months to February 2012.
Residential property prices fell by 1.5% in the month of February. This compares with a decrease of 0.6% recorded in January and a decline of 2.2% recorded in February of last year………………………………………..Full Article: Source

Booming London property market helps house prices record strongest jump in three years

Posted on 26 March 2013 by Laxman  |  Email |Print

House prices recorded their strongest monthly jump in three years in March thanks to a booming London market, property analyst Hometrack said. The 0.3% rise was driven by a boost to London house prices, with concerns over the crisis in Cyprus and the eurozone likely to send more cash flowing into the English capital in the coming months, the study said.
The national increase in house prices this month marks the highest growth seen since March 2010. Prices soared by 0.7% month-on-month in London, showing the strongest uplift since February 2010………………………………………..Full Article: Source

India ranked 20 among global real estate market, says C&W

Posted on 26 March 2013 by Laxman  |  Email |Print

India ranked 20th among the top 20 real estate investment markets globally with investment volume of $ 3466 million recorded in 2012,” said Cushman & Wakefield in its latest report International Investment Atlas.
As per the report, majority of the investment in India were through institutional sales (67%) while remaining were through private equity (PE) investments (33%). The market witnessed institutional sales (excluding apartments) of Rs 12, 800 crore, concentrated in commercial development sites and office segment including stand-alone and pre-leased office buildings………………………………………..Full Article: Source

U.K. house prices rise most in three years on London surge

Posted on 25 March 2013 by Laxman  |  Email |Print

U.K. house prices rose the most in three years this month, led by a surge in London, as demand outstripped supply. Average values in England and Wales increased 0.3 percent, the biggest advance since March 2010, property researcher Hometrack Ltd. said. In London, prices jumped 0.7 percent, the most since February 2010.
The Bank of England’s Funding for Lending program has helped ease credit conditions, while plans announced by the government last week to assist prospective homebuyers will also support the market, Hometrack said………………………………………..Full Article: Source

Real estate market remains red hot: Existing home sales at three-year high

Posted on 22 March 2013 by Laxman  |  Email |Print

U.S. sales of previously occupied homes rose in February to their fastest pace in more than three years, and more people put their homes on the market. The increases suggest a growing number of Americans believe the housing recovery will strengthen.
The National Association of Realtors said Thursday that sales increased 0.8 percent in February from January to a seasonally adjusted annual rate of 4.98 million. That was the fastest sales pace since November 2009, when a temporary home buyer tax credit had boosted sales. The February sales pace was also 10.2 percent higher than the same month a year ago………………………………………..Full Article: Source

Home sales rise in February, but is the market really improving?

Posted on 22 March 2013 by Laxman  |  Email |Print

As existing home sales continued their steady climb in February, low inventory is creating competitive markets in some parts of the country. But low prices and high demand aren’t creating a rapid increase in home prices. What’s wrong?
If you’ve been following US real estate recently, you know that it’s a “seller’s market” marked by “favorable buying conditions.” There is “pent up demand” that is limited by ”tight credit standards.”……………………………………….Full Article: Source

U.S. home building jumps to 5-year high as building permits climb

Posted on 20 March 2013 by Laxman  |  Email |Print

New U.S. home construction rose in February and building permits climbed to the highest level in almost five years, adding to signs of progress in the housing market that’s helping boost the economy.
Builders broke ground on 917,000 homes at an annual rate, up 0.8% from a revised 910,000 pace in January that was higher than initially estimated, the Commerce Department reported Tuesday in Washington. Building permits, a proxy for future construction, advanced 4.6% to 946,000, the strongest since June 2008………………………………………..Full Article: Source

U.S. housing starts up 0.8 pct in Feb.

Posted on 20 March 2013 by Laxman  |  Email |Print

U.S. homebuilders broke ground on more houses in February, evidence of the recovering property market, U.S. Department of Commerce reported on Tuesday. U.S. privately-owned housing starts were at a seasonally adjusted annual rate of 917,000 last month. The level was 0.8 percent above the revised January estimate of 910,000, and was 27.7 percent higher than the level in February 2012.
Single-family housing starts in February were at a rate of 618,000, 0.5 percent above the revised January figure of 615,000………………………………………..Full Article: Source

China: NBS statistics-rising property prices

Posted on 20 March 2013 by Laxman  |  Email |Print

Latest statistics show that prices for new houses rose more steeply in more Chinese cities in February, putting the government in an increasingly complex situation of regulating the bubble-ridden market.
Of a statistical pool of 70 major Chinese cities monitored by the National Bureau of Statistics or NBS, 66 cities saw new house prices increase within 3.1 percent in February from a month earlier, while three saw prices remain unchanged and only one reported price falls. The figures indicate warming in the housing market since January, when 53 cities reported a growth margin of no more than 2.2 percent………………………………………..Full Article: Source

China’s property prices too high for more people: Survey

Posted on 20 March 2013 by Laxman  |  Email |Print

More Chinese residents find property prices too high and “hard to accept” even as the government rolls out extra measures to cool the housing market, a central bank survey showed.
More than two-thirds of those surveyed, or 68 percent, said prices are too high, the highest percentage since the final quarter of 2011, the People’s Bank of China said in a quarterly release today. More than a third, or 34.4 percent, said home prices will rise in the coming three months………………………………………..Full Article: Source

China’s housing prices rise further

Posted on 19 March 2013 by Laxman  |  Email |Print

New-home prices in China rose sharply in February from January, prompting speculation that Beijing will crack down further on property speculation. The price increases follow Beijing’s vow to implement a 20% capital-gains tax on sales of second homes, further home-purchase restrictions and stricter credit regulations for second-home buyers to cool the market.
The statements hit the share prices of property developers but have also prompted a flurry of home-buying activity in China in recent weeks………………………………………..Full Article: Source

China’s property market sizzles as toughest policies to take effect

Posted on 19 March 2013 by Laxman  |  Email |Print

New and second-hand home prices rose in February from January in 66 of China’s 70 largest cities, the National Bureau of Statistics said. The strongest gains were seen in the top four cities, where Beijing and Guangzhou both recorded a 3.1% month on month increase in new home prices in February, Shanghai 2.3% and Shenzhen 2.2%.
The month on month price increases in second-hand homes were weaker than those in new homes. The prices of the second-hand homes in Beijing averaged 1.7% higher in February than January, the fastest in all 70 cities, according to the bureau………………………………………..Full Article: Source

London home prices jump as pound drop boosts foreign-buyer power

Posted on 18 March 2013 by Laxman  |  Email |Print

London home sellers raised asking prices this month as the weakness of the pound fueled interest from overseas buyers during the spring selling season, according to Rightmove Plc. (RMV).
Prices sought rose 1.9 percent from February to an average 496,298 pounds ($752,000), the property-website operator said in a report published today. Asking prices in the capital have surged more than 41,000 pounds in the past year and are now pushing close to 500,000 pounds. Nationally, average prices rose 1.7 percent in March from February………………………………………..Full Article: Source

Current housing upswing the weakest since 1987: ANZ

Posted on 18 March 2013 by Laxman  |  Email |Print

The current housing market recovery is the weakest cyclical upswing since the late 1980s, according to ANZ. The following chart, prepared by ANZ in its March quarter research report, compares the current upswing in house prices (which began in February last year) with four other cyclical upswings.
The previous housing market upswing between February 2009 and February 2010 was both the most rapid and shortest-lived, following on from 425 basis points cut from the cash rate between September 2008 and April 2009 as the RBA took drastic steps to keep credit markets flowing in the wake of the GFC………………………………………..Full Article: Source

Canada: Real estate boom over: bank report

Posted on 14 March 2013 by Laxman  |  Email |Print

Canada’s real estate bonanza of the past decade has come to an end and the long-term trend as one of the most profitable places to invest is also not encouraging, a new research paper from the TD Bank argues.
The “special report” from one of Canada’s largest banks makes the case that gains in housing prices have been exceptionally strong over the last 10 years, even when accounting for a sharp drop during the 2008-09 recession. But now is the time for a bit of a payback. The report does not predict a collapse in house prices as some analysts have suggested. In fact, it sees prices rebounding after a few years of a correction to as high as eight per cent………………………………….Full Article: Source

NZ house prices rise 7.6pct in February

Posted on 13 March 2013 by Laxman  |  Email |Print

New Zealand house prices rose in February, edging back toward the record high set in December and highlighting the heating property market that’s likely to be concerning the central bank. The national median house price rose 7.6 percent in February to $382,000, still below the record $389,000 set in December, according to the Real Estate Institute. The median price for Canterbury/Westland rose 3.2 percent to a record $355,000.
The Reserve Bank is seeking feedback on proposals to introduce macro-prudential tools such as limits on loan-to-value ratios that would allow it to target pockets of heat without stifling the whole economy. Economists say governor Graeme Wheeler may give more detail of his thoughts and single out the housing market in his monetary policy statement on Thursday. (Press Release)

Canadian house prices could fall 44pct with severe economic shock: Moody’s

Posted on 12 March 2013 by Laxman  |  Email |Print

A severe economic shock, such as the kind that hit Japan in the early 1990s and California and Nevada in 2006, could knock Canadian housing prices down by 44%, according to a formula devised by Moody’s Investors Service to rate securities linked to mortgages. Such a decline would be driven primarily by the phenomenal upswing in Canadian home prices over the past decade, Moody’s said.
While house prices in Spain could plummet by a more severe 52%, Canada joins Spain, as well as the United Kingdom and Australia, in the ratings agency’s assessment of countries where growth in housing prices over the past 10 years has driven their values away from sustainable market fundamentals and into “overheated” territory………………………………………..Full Article: Source

UK house sales hit two-and-a-half year high, Rics survey shows

Posted on 12 March 2013 by Laxman  |  Email |Print

Royal Institution of Chartered Surveyors finds increased availability of cheaper home loans led to pickup in February. Property transactions in the UK reached their highest level in two and a half years as house buyers took advantage of record low interest rates, according to a survey of estate agents.
The monthly market survey from the Royal Institution of Chartered Surveyors (Rics) found that the increased availability of cheaper home loans as a result of the Bank of England’s funding for lending scheme (FLS) had led to a pickup in transactions………………………………………..Full Article: Source

Kenya: Knight Frank predicts real estate rebound

Posted on 11 March 2013 by Laxman  |  Email |Print

Property consultancy firm Knight Frank has predicted that Kenya’s real estate market will pick up later this year. Knight Frank’s Africa Report 2013 says that recovery it expects recovery in construction of residential houses from March this year when the effects of falling interest rates become palpable and after the General Election mood passes.
“With interest rates slowly falling and a relatively stable economy, a post-election recovery is expected in this sector in the second quarter of 2013,” says the Africa Report 2013………………………………………..Full Article: Source

No US-style crash for Chinese housing market, predicts JP Morgan

Posted on 08 March 2013 by Laxman  |  Email |Print

China’s property sector is not headed for a US-style crash given strong demand and low leverage in the sector, said Fang Fang, chief executive officer for China investment banking at JPMorgan Chase.
Fang Fang, who is also part of the Chinese People’s Political Consultative Conference — a political advisory body, told CNBC on Thursday: “The market has reacted negatively over the past few days [to the recent cooling measures] but people still believe there is solid demand for properties, particularly in the big cities, so the impact may be temporary.”……………………………………….Full Article: Source

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The world’s most expensive real estate markets

Posted on 08 March 2013 by Laxman  |  Email |Print

Monaco remains the most expensive residential real estate market in the world, with luxury homes costing anywhere from $5,350 to $5,920 per square foot, according to a new wealth report from Knight Frank. While real estate prices in the tiny country are consistently high, Monaco saw a bump this year as buyers shied away from French hotspots in reaction to President Hollande’s wealth tax proposals, the Knight Frank report said.
And Monaco, which does not charge a personal income tax, was particularly popular with Russian buyers over French markets, according to the report. Luxury real estate prices there increased 2 percent year over year. Prices in 2012 jumped the most in Indonesia, where they increased 38 percent in Jakarta and 20 percent in Bali………………………………………..Full Article: Source

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14 worst housing markets for the next 5 years

Posted on 08 March 2013 by Laxman  |  Email |Print

Many analysts agree that home prices have bottomed out. According to the latest data from Fiserv Case-Shiller, National home prices are expected to rise 3.3 percent in the next five years. Of course, there will be many cities that see home prices lag behind the rest of the country.
We drew on the Fiserv Case-Shiller data to identify the 15 worst housing markets in the U.S. The bottom 15 cities are ranked by the projected annualized change in home prices between Q3 2012 and Q3 2017. We also included the median home price, median household income, unemployment rate, and the change in home prices since their peak, to offer a broader view of the local economy and housing market………………………………………..Full Article: Source

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U.S. commercial-property prices seen rising near peak

Posted on 08 March 2013 by Laxman  |  Email |Print

Prices for U.S. commercial property are expected to climb in the next six months, extending a rebound that has sent values close to levels reached at the market’s peak in 2007, according to Green Street Advisors Inc.
There is an 80 percent likelihood that commercial real estate prices will rise over the next six months, the Newport Beach, California-based research firm said………………………………………..Full Article: Source

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Immigrants fuel home ownership demand

Posted on 08 March 2013 by Laxman  |  Email |Print

Immigrants will generate almost 36% of the increased demand for U.S. homes this current decade, new research shows. That’s down from 39% in the past decade, according to a report by researchers at the University of Southern California. Immigrants’ share of demand growth is being reduced largely because native-born buyers’ share is growing, the researchers say.
However, the immigrant buyers “really filled a big hole,” in the last decade as the number of native-born home buyers lagged due to demographic trends that saw many Americans too young for home ownership, says Dowell Myers, director of the Population Dynamics Research Group at the University of Southern California………………………………………..Full Article: Source

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There’s a buyer rush in the US housing market unlike anything we’ve ever seen: Credit Suisse

Posted on 08 March 2013 by Laxman  |  Email |Print

Credit Suisse analysts conduct a monthly survey of real estate agents in 40 housing markets across the U.S. to get a ground-level view of the market around the country.
The results from their latest survey are out, and Credit Suisse analyst Daniel Oppenheim writes in a note to clients that “the breadth of strength in both pricing and traffic at the start of spring selling season” is “unprecedented in [the] survey’s history (dating back to ‘05).”……………………………………….Full Article: Source

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Confidence in housing market rose in February

Posted on 08 March 2013 by Laxman  |  Email |Print

Consumer confidence in the U.S. housing sector continued to rise in February, but more people expect mortgage rates to increase over the next year, according to Fannie Mae’s monthly national-housing survey.
The mortgage-finance company said its poll of 1,008 Americans showed home prices are expected to rise an average of 2.9% over the next year, slightly higher than the 2.4% increase expected in January. The share who believe home prices will go up in the next 12 months was 48%, a survey high, while those who think home prices will fall held steady at the survey low of 10%………………………………………..Full Article: Source

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US property market recovery well underway with 6.1pct annual growth

Posted on 08 March 2013 by Laxman  |  Email |Print

Residential property prices in the United States were up 6.1% on an annual basis last month, according to the latest Home Data Index from real estate valuer Clear Capital. The statistics also show that quarterly price trends at the national and regional level were moderately improved over the typically slow winter season although 11 of 15 of the lowest performing major metro markets saw quarterly price trends in February give way to minor losses.
‘While February’s yearly growth of 6.1% is encouraging, let’s keep in mind this rate of growth is measured against the market’s bottom, which we reported in our March 2012 Market Report,’ said Alex Villacorta, director of research and analytics at Clear Capital………………………………………..Full Article: Source

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Over $870 bln of commercial real estate traded in 2012

Posted on 08 March 2013 by Laxman  |  Email |Print

Real Capital Analytics’ (RCA) recently released 2012 Global Capital Trends Year In Review highlighted robustness in global transaction volumes during 2012. While, in Europe and the Americas, the fourth quarter is typically stronger as investors look to complete transactions by year end, Q4 2012 was unusually strong leading to over $870 billion being recorded for the full year.
“Q1 2012 started off weak with various global economic concerns playing on investor minds, but by year end we have seen the highest quarterly investment levels since 2007,” said Simon Mallinson, Executive Managing Director, EMEA. “The pending deal pipeline for early 2013 is also looking positive for the year ahead.” (Press Release)

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The 15 worst US housing markets for rhe next five years

Posted on 07 March 2013 by Laxman  |  Email |Print

Many analysts agree that home prices have bottomed out. According to the latest data from Fiserv Case-Shiller, National home prices are expected to rise 3.3 percent in the next five years. Of course, there will be many cities that see home prices lag behind the rest of the country.
We drew on the Fiserv Case-Shiller data to identify the 15 worst housing markets in the U.S. The bottom 15 cities are ranked by the projected annualized change in home prices between Q3 2012 and Q3 2017………………………………………..Full Article: Source

U.S: Home prices finally returning to normal

Posted on 06 March 2013 by Laxman  |  Email |Print

After years of wild swings, the U.S. housing market is slowly returning to normal. The latest forecast from Fiserv (FISV) Case-Shiller predicts home prices will increase by an average of 3.3% annually over the five years ending September, 2017.
“2012 was the first year since 1997 that the housing market has resembled something [close to] normal,” said David Stiff, Fiserv’s chief economist. “For the past 15 years, home price changes and sales volumes have either been boosted by a bubble mentality or crushed by crash psychology.”……………………………………….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

UK: House price divide widens

Posted on 04 March 2013 by Laxman  |  Email |Print

London shows seasonal upturn alongside slight decreases in the north, according to monthly national housing survey. The house price divide between the south-east and the rest of England and Wales widened last month with a seasonal upturn in sales in London and slight decreases in parts of the north, according to the monthly national housing survey by the property analysts Hometrack.
Across England and Wales 14.8% of postcodes registered price rises, of which 74% were in London and the south-east. Almost half of London postcodes (48%) registered an increase in values of 0.3% on average, with Southwark, Ealing, Merton and Bexley all achieving an above-average house price increase………………………………………..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

Global housing crisis: Australia, Canada and UK face common questions

Posted on 28 February 2013 by Laxman  |  Email |Print

Western countries are tackling similar housing problems, but some have adapted to a new environment more easily. Now is the deepest winter of discontent in UK housing for 30 years. Half a decade of recession and credit rationing have depressed housing values and reduced market investment to the lowest levels in half a century.
Public investment has been slashed, and the flow of new housing, especially for the poorest households, has slowed to a trickle. The next half decade offers the prospect of continuing market sluggishness and deepening cuts in investment and welfare budgets………………………………………..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

U.S. housing bubble - Why it’s always the best time to buy houses

Posted on 27 February 2013 by Laxman  |  Email |Print

I really need to stop being so pessimistic. I’m getting richer by the day. My home value is rising at a rate of 1% per month according to the National Association of Realtors. At that rate, my house will be worth $1 million in less than 10 years. My underwater condo (figuratively – not literally) in Wildwood will resurface and make me rich beyond my wildest dreams.
Larry Yun, the brilliant economic genius employed by the upstanding and truth telling NAR, reported that median home prices soared by 12.3% in January (down 3.7% from December) over the prior year and there is virtually no inventory left to sell – with a mere 1.75 million homes in inventory – the lowest level since 1999………………………………………..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

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