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CEE reports stability on the industrial real estate market

Posted on 26 February 2013 by Laxman  |  Email |Print

According to the latest annual study on the Central European Industrial market released by Cushman & Wakefield, the industrial real estate market in Central Europe has reached equilibrium. Availability of space has maintained a healthy 10.5 per cent for two years and the volume of new construction amounted to 740,000 square metres last year, with new construction taking place in Poland in particular.
“The capacity of the market with regard to new construction in Central Europe is estimated at between 500,000 to 1 million square metres a year. Such an amount of modern logistic and production halls needs to be built every year………………………………………..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

S. Koreans demand stable prices, housing market from government: poll

Posted on 26 February 2013 by Laxman  |  Email |Print

Stable consumer prices and housing market are what South Korean people demand the most from its government, central bank poll showed Monday. According to a survey of 2,119 households conducted by the Bank of Korea (BOK) between Dec. 3 and 28, more than 40 percent of respondents said the government should set its top priority at stable consumer prices and housing prices when implementing economic policy.
Around 30 percent demanded economic growth from the government, while about 20 percent replied that the administration should take measures to create more jobs………………………………………..Full Article: Source

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

Housing market in transition in Canada

Posted on 21 February 2013 by Laxman  |  Email |Print

Home prices slipped in January in Canada for the fifth consecutive month, a development not entirely unwelcome, the country’s central bank governor has said. The Teranet-National Bank House Price Index showed prices down 0.3 percent in an 11-city index, the Canadian Broadcasting Corp. reported Wednesday.
Prices fell in seven of the 11 cities tracked, with the exceptions being Victoria, Halifax, Quebec City and Ottawa. Bank of Canada Gov. Mark Carney in recent remarks said, “real wealth is build through innovation, and it’s gained through hard work. It’s not through some magical asset inflation.”…………………………………..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

U.S. single-family home starts rise to four-year high

Posted on 21 February 2013 by Laxman  |  Email |Print

Work began in January on the most U.S. single-family houses in over four years and permits for future projects climbed, setting the stage for construction to keep adding to economic growth in 2013.
Builders broke ground on 613,000 houses at an annualized rate last month, the most since July 2008 and up 0.8 percent from December, Commerce Department figures showed today in Washington. Total housing starts dropped to an 890,000 rate, lower than forecast and restrained by a slump in construction of multifamily units, which is often volatile……………………………………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

Outlook for UK property market in 2013 ‘looks good’

Posted on 21 February 2013 by Laxman  |  Email |Print

2013 will be good year for the property market in the UK, following strong sales results from last year. This year could be a good one for the UK property market, as Chesterton Humberts revealed positive sales results in 2012.
The property consultants released its CHROME report, showing sales figures for property in the UK reached their highest level since 2007. It also revealed mortgage lending increased by £3 billion from 2011, which is partly the result of government initiatives to encourage banks to boost the amount they let customers borrow……………………………………Full Article: Source

UK: House prices rise as market rallies

Posted on 20 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 has said.
Prices jumped by 2.8% month-on-month to reach £235,741 on average, with big monthly leaps of around 5% recorded in the north west of England and Wales, Rightmove said. Prices are 1.1% 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

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

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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UK: Older ‘downsizers’ kickstart property market in 2013

Posted on 19 February 2013 by Laxman  |  Email |Print

Figures from property website Rightmove.co.uk show the average asking price is now £235,741, up from £229,429 in January. The figure is just £2,115 shy of the post-financial crisis record set in February 2008. Property ‘old hands’ are fuelling the increase in price, with 71% of people who intend to sell in 2013 being over the age of 45. Half of those planning to buy this year will do so for at least the third time.
The two most active age ranges in the market are the 45 to 54 bracket, who make up 25% of those planning to sell this year, and the 55 to 64-year-olds, who make up 30% of the total sellers…………………………………….Full Article: Source

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Farmland prices reach record highs in England and Wales according to RICS (UK)

Posted on 19 February 2013 by Laxman  |  Email |Print

Farmland prices reached record levels during the second half of 2012, as demand for commercial farmland continued to grow, says the latest RICS Rural Land Market Survey, H2 2012.
The average price per acre for farmland in England and Wales increased to £6,783*(approx. €7900) during the second half of 2012. Prices have now continually risen since the beginning of 2009. Surveyors attribute the strength of farmland prices to increased demand and lack of available land…………………………………….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

UK: House prices near peaks seen before recession

Posted on 18 February 2013 by Laxman  |  Email |Print

Property asking prices have neared their pre-crisis peaks, according to the latest RightMove House Price Survey. The website reports that the average price of newly marketed property in February was £235,741, just £2,115 lower than their high peak for the month, recorded in 2008 before the collapse of Lehman Brothers.
Asking prices are not always matched by eventual selling prices but can be a good indication of trends. In fact, the latest official house price figures published by the Office of National Statistics last week was also positive, revealing that the average price achieved across the country last December was £233,000, up 3.3 per cent over the year………………………………………..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

How 150 years of Australian housing prices shows that the bubble will likely come to an end

Posted on 18 February 2013 by Laxman  |  Email |Print

For those interested in the Australian residential property market, below are a collection of figures illustrating long-term trends. Housing prices and land values are compared to a basket of fundamental metrics. Australians are fortunate because much data on real estate and financial markets are publicly available, going into depth not seen in other countries.
Comparing housing prices to inflation is one of the more common indicators in property market analysis. If the trend is fairly even over time, then there is no indication that people are favouring housing relative to other goods and services………………………………………..Full Article: Source

Housing inventory, already low, dropped further in January

Posted on 15 February 2013 by Laxman  |  Email |Print

The number of homes listed for sale, which stood at an 11-year low at the end of last year, fell even further in January, according to a report released Thursday.
There were just 1.48 million homes listed for sale at the end of January, down by 5.6% from December and by 16.5% from one year ago, according to data compiled by Realtor.com. That’s the lowest level since the firm began its count in 2007. The National Association of Realtors separately reported last month that inventory ended 2012 at an 11-year low………………………………………..Full Article: Source

Many U.S. cities becoming sellers’ real estate markets, according to ZipRealty

Posted on 15 February 2013 by Laxman  |  Email |Print

The gap between the listing price and closing price of an average home in the United States continues to narrow, with a growing number of sellers able to achieve more than 98% of their home’s listing price. In addition, the median days a home spent on the market dropped to 44 nationwide in 2012, a 23% decline from 2011′s 57 days, says a study of ZipRealty.
“A limited inventory of homes on the market, combined with the extremely low cost of mortgage financing, has resulted in homes selling above asking price in many western markets, boosting the average listing to closing price ratio,” explains Lanny Baker, Chief Executive Officer and President of ZipRealty. “The median amount of time that homes are listed on the market before they sell has shortened by more than two weeks since last year, and in some areas we are seeing one-in-five newly listed homes sell in less than seven days. Multiple-bid situations are also increasingly common in the markets we reviewed.” (Press Release)

Hong Kong most expensive global retail market - London, Paris and Moscow in the top-10

Posted on 13 February 2013 by Laxman  |  Email |Print

Hong Kong is the world’s most expensive global retail market as wealthy Chinese tourists, luxury retailer expansion and a shortage of prime space drive rents to record highs, according to new research from global property advisor CBRE Group, Inc. (CBRE).
CBRE’s quarterly survey, which tracks the top-10 most expensive prime global retail markets, continued to find historically low construction rates of prime retail space, leading to low availability levels and fierce competition. This dynamic is driving record rents across many global retail markets, including those ranking among the most expensive, such as Hong Kong, London, Paris and Sydney………………………………………..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

Taiwan: Politics, economy to affect realty market: poll

Posted on 12 February 2013 by Laxman  |  Email |Print

Taiwan’s political and macroeconomic situation will continue to impact the island’s home market this year, according to a recent survey released by Cathay Real Estate and National Chengchi University.
According to the survey, Taiwan’s real estate industry had a slow first quarter in 2012, followed by an upward surge in the second. Things cooled down a bit in the third quarter and picked up again in the last three months of 2012………………………………………..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

U.K home ownership falls to lowest level since 1987

Posted on 08 February 2013 by Laxman  |  Email |Print

Official figures reflect a large increase in renting has Britons locked out of home ownership amid the tough economy. The level of homeownership has fallen to its lowest level since 1987, government figures showed today.
The vast majority of households are home owners, making up 14.39 million, but at 65.3 per cent of households this is the lowest proportion recorded since the height of the popularity of Margaret Thatcher’s “right to buy policy”, when council tenants were encouraged to buy their homes at a discount………………………………………..Full Article: Source

U.K: Halifax says signs of life in housing market

Posted on 07 February 2013 by Laxman  |  Email |Print

UK house prices registered their first annual rise since October 2010, rising by 1.3% in January compared with a year earlier, a lender has said. But the Halifax, now part of Lloyds Banking Group, also said that property values were 0.2% down on December.
The “signs of improvement” in the market, which started in late 2012, continued into the new year, the lender said. But it added that the outlook for prices was unclear………………………………………..Full Article: Source

39pct of Latvians expect property prices to go up in 2013

Posted on 07 February 2013 by Laxman  |  Email |Print

According to the latest issue of SEB Housing Price Indicator, 39% of all Latvians expect housing prices to go up in 2013, reports news2biz LATVIA. A much smaller amount, just 13%, believes that the prices will fall, and a further 30% believe that they will not change (the rest had no opinion on the issue.)
The indicator reached its highest mark in November 2014, when 41% of all Latvians expected that the housing prices will go up………………………………………..Full Article: Source

India: Home sales could rebound in 2013 helped by quicker approvals and lower finance cost

Posted on 07 February 2013 by Laxman  |  Email |Print

Home sales in India could rebound in 2013, helped by quicker project approvals and lower cost of finance, according to analysts. “Residential markets have entered CY13 on an encouraging note, with robust offtake seen in new launches across markets over the last three months,” global financial services group JP Morgan said in its January report. “We expect volumes in residential markets to improve over the next 12 months on pick-up in pace of new launches coupled with price discounting and mortgage rate cuts.”
According to CRISIL Research, absorption of new residential units across six key cities - Mumbai, the National Capital Region, Pune, Bangalore, Chennai and Hyderabad - is expected to increase at a compound annual growth rate (CAGR) of 7% to 251 million sq ft in the next two years……………………………………….Full Article: Source

Home prices post biggest gain in 6 years

Posted on 06 February 2013 by Laxman  |  Email |Print

Home prices rose 8.3 percent in December from a year earlier, the biggest gain since May 2006, according to CoreLogic. All but four states — Pennsylvania, New Jersey, Illinois and Delaware — posted increases. Prices rose 0.4 percent in December from November, the 10th consecutive monthly advance.
Excluding foreclosures and short sales, which sell at deep discounts to market prices, home prices were up 7.5 percent on a year-over-year basis and 0.9 percent month-over-month………………………………………..Full Article: Source

Most booming housing markets: San Francisco and … Salt Lake City?

Posted on 06 February 2013 by Laxman  |  Email |Print

Trulia, the real estate information start-up based right here in San Francisco, put out some data on the nation’s “booming” real estate markets in terms of “big price increases and healthier market fundamentals.” Trulia looked at both home sales and rentals
Of course, San Francisco topped the list, but was joined by other cities such as Seattle, Denver, San Jose and Salt Lake City. I happen to visit Seattle on a regular basis, so I know from what my friends and family tell me and seeing all the construction going on there, that housing is on the upswing………………………………………..Full Article: Source

How Indian realty industry changed in last 6 decades

Posted on 05 February 2013 by Laxman  |  Email |Print

Since the country has become Republic, it has undergone many changes. It has achieved global recognition in the world economy. And, the changes are seen in many sectors including real estate. Importantly, the real estate industry contributes a major share in the country’s GDP.
Surabhi Arora, MRICS, Associate Director - Research, Colliers International said, “The sector started flourishing with India embarking on broad-based liberalization in post 1990’s era when various multinational corporate started seeking permission to commence operations in India. Mumbai, being the financial capital of India, was the first city to witness the influx of financial and services multinational companies…………………………………..Full Article: Source

Sydney homes for sale plunge to 3-year low as demand recovers

Posted on 04 February 2013 by Laxman  |  Email |Print

Sydney home sale listings plunged 13 percent in January from a year earlier to the lowest level in three years as interest rate cuts spur property purchases, according to SQM Research Pty.
Homes offered for sale online dropped to 23,467 in Sydney, the lowest level of January listings since 2010, the research group said in an e-mailed statement. Across Australia, property listings declined 2.9 percent from a year earlier to 335,429, the Sydney-based company said……………………………………..Full Article: Source

UK: Property returns down by two thirds as low economic confidence drags down values

Posted on 01 February 2013 by Laxman  |  Email |Print

UK commercial property total returns fell to 2.7% in 2012 (7.8% in 2011), dragged down by falling capital values across the regions. Values fell by 3.1% for the year, while income returns held up at 6%, according to the IPD UK Quarterly Property Index. Negative valuer sentiment drove the fall in values, as UK property underwent its most challenging year since the downturn and the economy slipped briefly back into recession.
Steady income returns will bring some relief to investors, who have maintained cash flows despite muted occupier demand (rents remained flat for the year). Income continues to make property an attractive investment medium for investors, amidst the volatility of equities and low yields off gilts………………………………………..Full Article: Source

Beijing’s housing market surges in January

Posted on 01 February 2013 by Laxman  |  Email |Print

Some 11,156 homes were sold in the capital from the beginning of the year to January 28, a 570 percent increase compared to the same period in 2012, a property agency says.
Nearly 400 units were sold on average every day from January 22 to 28, HomeLink said, despite the fact that the beginning of the year was usually slow. The average housing price was 23,259 yuan per square meter on January 28………………………………………..Full Article: Source

Australia home prices rise 1.2 pct in January-RPData

Posted on 01 February 2013 by Laxman  |  Email |Print

Home prices in Australia’s major cities rebounded in January, according to industry data, a sign lower mortgage rates are finally gaining some traction in the economy.
Figures from property consultant RP Data-Rismark showed dwelling prices climbed 1.2 percent in January, from December. The increase turned annual growth in prices positive, with a gain of 1.8 percent compared to January 2012………………………………………..Full Article: Source

NZ: Property market remains tight over summer

Posted on 01 February 2013 by Laxman  |  Email |Print

The New Zealand property market remained tight in January as new listings maintained their traditionally low levels for summer, while asking prices rebounded to near record levels on the back of continued seller confidence and no ease in buyer demand.
Data released in the NZ Property Report – a monthly report of housing market activity compiled by Realestate.co.nz – showed 8,849 new listings arrived on the market in January – a lift of 4% on levels recorded in both the previous month and at the same time last year. Paul McKenzie, Marketing Manager for Realestate.co.nz, says that while January’s numbers of new listings always tend to be low in comparison to the rest of the year, buyer interest in property for sale has never been higher. (Press Release)

Million-dollar California home sales reach five-year high

Posted on 31 January 2013 by Laxman  |  Email |Print

The number of California homes that sold for at least $1 million reached a five-year high in 2012, fueled by a recovering economy and a record number of cash purchases, DataQuick said.
A total of 26,993 homes sold for at least $1 million last year, up 27 percent from 21,267 in 2011, the San Diego-based data provider said in a statement. It was the most since 2007, when 42,502 homes crossed the threshold, DataQuick said………………………………………..Full Article: Source

Housing prices in Bulgaria dropped one to 3 pct in 2012

Posted on 31 January 2013 by Laxman  |  Email |Print

Prices of residential property decreased by one to three per cent in 2012, public broadcaster Bulgarian National Television said on January 30 2013, quoting what it described as a major player in the Bulgarian property market. According to the company, housing transactions in the past 12 months grew by about 10 per cent. The annual turnover of the housing market in the country is 3.5 billion leva.
In 2014, prices of housing will not fall further, but could even slightly increase, analysts said, according to the report. Buyers increasingly were interested in factors such as electricity costs, heating and energy efficiency, the report said………………………………………..Full Article: Source

Australian house prices to rise 2.1pct over next two years: NAB industry survey

Posted on 31 January 2013 by Laxman  |  Email |Print

Expectations for house price growth improved marginally in the final quarter of 2012 but remain very modest, with just 2.1% growth tipped for the next two years, according NAB’s December 2012 quarterly residential property index survey. This compares with September quarter expectations of a 1.7% gain in house prices over the next two years.
The expectations are based on the sentiments of around 270 property markets participants, predominantly estate agents (39% of respondents), property owners and investors (20%) and developers (17%)………………………………………..Full Article: Source

New home sales up 6.2pct in December, says Housing Industry Association

Posted on 31 January 2013 by Laxman  |  Email |Print

Evidence of recovery in the housing industry emerged today as new home sales jumped in December, a month when property markets are normally subdued. New home sales rose 6.2 per cent in the month, capping off a 3.3 per cent rise in the fourth quarter from the previous three months, data published by the Housing Industry Association showed.
The rise will encourage perceptions that new home building is ready for recovery, the rebound timed well to bolster the economy as mining investment fades in 2013.The Reserve Bank of Australia is betting that as mining investment cools, other areas of the economy such as housing will step up to fill the void in growth………………………………………..Full Article: Source

U.S: Average home prices rose 5.5pct the past 12 months

Posted on 30 January 2013 by Laxman  |  Email |Print

Home prices rose 5.5% in the 12 months through November, providing more evidence of a recovering housing market, a closely-followed report showed Tuesday. The Standard & Poor’s Case-Shiller index of 20 major cities showed prices rising in 19 of the 20 cities for the 12-month period. Prices fell only in New York — by 1.2%.
Compared with October, the index showed a 0.1% decline. “Housing is clearly recovering,” said David Blitzer, chairman of the home price index committee………………………………………..Full Article: Source

Homebuying advice: What to know about today’s sellers

Posted on 30 January 2013 by Laxman  |  Email |Print

When markets move in a positive direction, you’ll hear it from real estate agents first. They see busier open houses, quicker sales or even multiple offers. By the time the news finally hits the mainstream media, buyers start to feel the pull to get back in the market.
That’s what we’re seeing in many parts of the country right now. With all signs tilting toward a sellers’ market for the first time in years, it’s helpful for buyers to understand today’s seller. No two sellers are alike, of course. But there’s a certain mindset that many sellers these days share, and it’s a grateful one for many……………………………………….Full Article: Source

U.K: House prices see 2012 pick-up, says Land Registry

Posted on 30 January 2013 by Laxman  |  Email |Print

House prices in England and Wales rose by 1.7% in 2012 - the fastest rate for more than two years, the Land Registry has said. The average price of a property rose by 0.8% in December compared with the previous month, bringing the average price to £162,080.
The rise during 2012 was driven by property values in London. The figures suggested prices overall were increasing, unlike data recorded in other recent surveys………………………………………..Full Article: Source

China’s home prices may rise further in 2013

Posted on 30 January 2013 by Laxman  |  Email |Print

China’s property prices will continue to rise in 2013, driven by less supply, faster urbanization and the improved economy, analysts said. Housing inventories this year will be lower than in 2012, due to a slide in new construction area since the third quarter of 2011, data from a report by Reico showed on Tuesday.
Reico is a research institution affiliated with the China Real Estate Chamber of Commerce. “The country’s property prices will pick up steadily this year, but a strong rebound across the country is not likely given the continuing rigorous measures,” said the report………………………………………..Full Article: Source

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