Thu, Oct 30, 2014
A A A
Welcome hendrik.absolut
RSS

Real Estate Briefing - Archive | December, 2012

UK’s property market imbalance laid bare: House prices jump 3.4pct in London

Posted on 19 December 2012 by Laxman  |  Email |Print

The imbalance in Britain’s property market was laid bare today by official figures showing house prices were up 1.5 per cent in the year to October – but more than half of the rise was delivered by London and the South East.
The ONS figures, which lag other major house price reports by at least a month, showed a 0.2 per cent monthly rise to a UK average of £231,000. As well as growth in London, the increases in England were fuelled by a 3.1 per cent annual rise in Yorkshire and the Humber while prices were flat in the North East and fell 0.8 per cent in the West Midlands, the ONS said………………………………………..Full Article: Source

UK: Property in 2013: What’s hot and what’s not

Posted on 19 December 2012 by Laxman  |  Email |Print

The property sector has had a challenging 2012 with both rents and capital values squeezed by the economic backdrop, and next year could again prove a rough ride.
Although central London will remain a favourite pick, asset management will be key in 2013, Michael Morris, chief executive officer of Picton Capital, the wholly owned subsidiary of investment company Picton Property Income, said………………………………………..Full Article: Source

Uncertainty remains in the UK housing market

Posted on 19 December 2012 by Laxman  |  Email |Print

More than one in four wannabe first time buyers say that it will take them ten years or more to raise the necessary deposit to buy a property, say the BSA in their 19th edition of Property Tracker.
26 per cent of potential buyers surveyed at the end of 2012 believe that they can raise a deposit in three years or less. This is in stark comparison to the 69% who said they did this before the start of the credit crunch in 2008………………………………………..Full Article: Source

Dubai’s real estate market back on an upward curve

Posted on 19 December 2012 by Laxman  |  Email |Print

Dubai’s property market will grow at a steadier and more stable pace over the next year, providing solid investment opportunities for the savvy investor, leading executives in the industry said. Independent reports have put the growth in prices of real estate in Dubai through 2012 at anywhere from 7-19 percent, depending on location and the quality of the project.
Ziad Al Chaar, DAMAC Properties Managing Director, said that growth is sustainable in the near future, if you know where to look: “2012 has delivered on our predictions at the start of the year – prices in the Dubai market steadily grew with each quarter outperforming the last. In 2013 buyers will definitely be able to benefit from this capital growth, but will need to be very savvy about where they invest and in which projects in each area.”……………………………………….Full Article: Source

Asia: Property equity funds greatly outperform direct investors

Posted on 19 December 2012 by Laxman  |  Email |Print

Asian property securities led the way in terms of total return during this year, as the Henderson Horizon Asia Pacific Property Equities fund and the First State Asian Property Securities fund are the top two performers in the IMA Property sector year to date, returning 36.2 per cent and 33.5 per cent respectively.
In total, 12 members of the IMA Property sector have delivered returns of over 20 per cent this year, all of which invest in property securities. Seven members of the sector have lost money this year, all of which invest directly in property………………………………………..Full Article: Source

China sees signs of property revival

Posted on 19 December 2012 by Laxman  |  Email |Print

After a long campaign to tamp it down, the Chinese property market may be set to give the world’s No. 2 economy a lift next year.
A government survey released Tuesday showed that average housing prices in China rose at a faster pace in November from the month before, following largely marginal gains since June. Sales and investment picked up in recent weeks in part because of a growing perception that prices have bottomed out, analysts said………………………………………..Full Article: Source

China housing sales: It’s how you count them

Posted on 19 December 2012 by Laxman  |  Email |Print

Is this a bubble or not? Housing sales in China are back up in November. Well, sort of. Caveats abound on China’s economic statistics, including those on the property market. But if there is one thing to remember, it’s this: monthly data look very different from yearly data. And yearly is almost always a better guide.
Chinese news agency Xinhua said in its headline “More Chinese cities see rising home price“. That’s true, to an extent. Compared with October, 53 out of the 70 cities in the sample saw house sales increase in November. In October, 35 cities had seen more sales than in the previous month………………………………………..Full Article: Source

Australia: 2013 will see slow and gradual market recovery: First National

Posted on 19 December 2012 by Laxman  |  Email |Print

Australia’s property market will be on the rebound in 2013, having reached the bottom of the property cycle, according to the First National Real Estate 2013 Property Market Outlook.
“Our members are looking forward to 2013 where the market is expected to build on the momentum already seen over the last six months of 2012,” Ray Ellis, the First National Real Estate chief said. “Almost three-quarters of our members say the market has bottomed or will do so in the coming six months………………………………………..Full Article: Source

Steve Keen says odds of Australian house prices beating inflation “not good”

Posted on 19 December 2012 by Laxman  |  Email |Print

The likelihood of house prices rising in real terms in 2013 are “not good”, according to the University of Western Sydney’s professor Steve Keen, who says his 2008 call of a slow 40% fall in Australian house prices over the next 10 to 15 years is looking “healthy”.
According to Keen, for house prices to perform better than the current inflation rate of 2% would require that property price growth start to accelerate. However, he says the opposite has been happening following a “slight uptick in nominal prices over the last six months”………………………………………..Full Article: Source

U.S: Housing issues to watch in 2013

Posted on 18 December 2012 by Laxman  |  Email |Print

Home prices finally hit a bottom in 2012, well ahead of many predictions that called for continued price drops this year. Prices were up 6% from one year ago in October, according to CoreLogic, putting them on track for their best year since 2005. Housing starts, which hit a bottom three years ago, ramped up to their highest level in four years.
Sales of new homes are running around 20% of last year’s levels, while existing home sales are up around 10%. Continued declines in homes listed for sale—particularly foreclosures—explain much of the improving price picture……………………………………..Full Article: Source

2013’s top 10 healthiest housing markets

Posted on 18 December 2012 by Laxman  |  Email |Print

Trulia‘s Chief Economist names Houston and San Francisco as the nation’s healthiest housing markets heading into 2013. Why? These two markets have solid fundamentals, without the extreme price swings of Las Vegas, Phoenix, or Detroit.
Along with our take on what’s in and what’s out for housing in 2013, I’ve got my eye on 10 “healthy” housing markets with solid fundamentals. The healthy markets that made the list have strong job growth (Bureau of Labor Statistics), which bodes well for housing demand; low vacancy rates (U.S. Postal Service)–low enough to encourage new construction, but not so low that inventory and sales are restrained; and low foreclosure inventory (RealtyTrac), since foreclosures tend to hold back recovery……………………………………..Full Article: Source

25 cities where homes prices are still falling

Posted on 18 December 2012 by Laxman  |  Email |Print

To compile this list, we teamed up with Local Market Monitor and dug down into data for more than 300 U.S. metro areas (metropolitan statistical areas and metropolitan divisions, as defined by the Office of Management and Budget). LMM assessed Federal Housing Finance Agency price data from October 2011 through September 2012 and then calculated 12-month price projections through September of 2013.
For the projections, LMM took into account local economic indicators like job growth, unemployment rates and population growth to help determine the rate of buyer interest versus inventory level – a supply-demand relationship that contributes to price movement……………………………………..Full Article: Source

Government housing help benefits 1 million homeowners in 3rd quarter

Posted on 18 December 2012 by Laxman  |  Email |Print

For much of the last year, the housing market has generally been on a slow but steady path toward improvement, and that trend continued in November. A number of federal initiatives to make consumers struggling in the housing market more financially capable seem to be working, according to the latest housing scorecard from the U.S. Department of Housing and Urban Development.
For instance, in the month of November alone, federal initiatives such as the Home Affordable Modification Program helped 13,400 Americans obtain trial modifications for the terms of their home loans, which is down from the 15,200 who received them in the previous month. Another 16,000 received permanent modifications, though, and that was up from 13,800 the month before……………………………………..Full Article: Source

US housing market improving, recovery taking hold

Posted on 18 December 2012 by Laxman  |  Email |Print

The political ping-pong in Washington has once again impeded any resolution leading to certainty regarding fiscal policy, and therefore continues to limit the potential of the labor market recovery. As a result, household formation rates remain below potential and continue to act as a drag on the nascent housing recovery and consumer spending. However, despite the leadership deficit and its economic consequences, there is no denying it — a long-term expansion in housing is taking hold.
First and foremost, even at current, below-trend household formation rates, the inventory of vacant housing units will be reduced to pre-crisis levels over the next three years even if housing starts continue to grow at double-digit rates…………………………………….Full Article: Source

Canada: Soft landing for housing (with ‘rather obvious exception of Vancouver’)

Posted on 18 December 2012 by Laxman  |  Email |Print

Economists still see a soft landing for Canadian real estate as the market continues to cool. Sales plunged 11.9 per cent in November from a year earlier, slipping 1.7 per cent from October. Those numbers, released today by the Canadian Real Estate Association, prompted the group to cut its sales forecast for this year and next.
While prices are still relatively firm compared to sales, CREA said the national average slipped 0.8 per cent in November from a year earlier. The MLS home price index, which factors in changes in the types of homes sold, rose 3.5 per cent, though that’s the weakest increase since May of 2011……………………………………..Full Article: Source

Private equity’s European land grab

Posted on 18 December 2012 by Laxman  |  Email |Print

The Blackstone Group has raised a dedicated $4 billion European real estate fund; David Abrams, head of European real estate investment for Apollo Global Management, says his firm has made 30 investments this year in the U.K., Germany, Ireland, and Spain; the Carlyle Group is buying mainly in Northern Europe, which includes Sweden, Norway, Germany, France, and especially the U.K. — isn’t Europe supposed to be shaky ground in which to invest? What gives?
Well, there are deals to be had. European banks, bloated with real estate, have been looking to dump their holdings — the International Monetary Fund estimates that 58 European banks will sell at least $2 trillion in assets over the next two years……………………………………..Full Article: Source

UK: Housing market predictions for 2013

Posted on 18 December 2012 by Laxman  |  Email |Print

For the most part, UK house prices remained stable in 2012 with any small falls negated by small rises. In 2013, the experts are predicting more of the same. “House prices generally will be subject to wider economic concerns and consumer sentiment,” says Jane Harrison, a director at London & Country mortgage brokers. “Falling inflation and some growth in the economy - even if weak - should help that, so we’d expect prices to be flat or see modest growth in 2013, but with significant regional variation.”
Adrian Anderson, director of property finance specialist Anderson Harris, also expects the North/South divide to become more apparent. “It looks set to deepen,” he says. “London and the South East seem to be completely detached from the rest of the country.”…………………………………….Full Article: Source

Uncertainty remains in UK housing market lending as 2012 draws to a close

Posted on 18 December 2012 by Laxman  |  Email |Print

More than one in four wannabe first time buyers say that it will take them 10 years or more to raise the necessary deposit to buy a property, according to the Building Societies Association.
But 26% of potential buyers surveyed at the end of 2012 believe that they can raise a deposit in three years or less. This is in stark comparison to the 69% who said they did this before the start of the credit crunch in 2008, says the BSA……………………………………..Full Article: Source

‘Balanced’ housing market will emerge in 2013 as “froth” taken out of central London

Posted on 18 December 2012 by Laxman  |  Email |Print

An improved and more balanced housing market will emerge in 2013 with less of a London skew, despite sellers slashing their asking prices this month in the biggest fall seen for more than a decade, property search website Rightmove said.
Increased competition among mortgage lenders and a continued shortage of homes to choose from will help to push asking prices up by 2% across England and Wales next year, Rightmove said……………………………………..Full Article: Source

UK homeowners face tepid house price rise in 2013

Posted on 18 December 2012 by Laxman  |  Email |Print

British homeowners will have to wait a long time before they recoup losses from the last few years on their properties as a weak economy and high unemployment keeps demand in check, a Reuters poll showed. London house prices, however, will continue to outperform as the capital keeps drawing strong demand from overseas investors.
The poll of 28 market watchers, taken in the past week, predicted that UK house prices would rise 0.6 percent in 2013, having dropped by the same amount this year. A 2.0 percent rise was forecast for 2014, medians showed……………………………………..Full Article: Source

Azerbaijan pays $286mln for first European property

Posted on 18 December 2012 by Laxman  |  Email |Print

Azerbaijan bought a central London office block for 177 million pounds ($286 million), its debut property deal in Europe that underlines the safe investment appeal of the continent’s top real estate.
The country’s $33 billion state oil fund bought the 188,600 square foot building in the upmarket St James’s district from RREEF Real Estate, the property arm of Deutsche Bank, the German bank said on Monday. The building, which is let to banking group HSBC until 2023, gives an investment yield of about 5.4 percent……………………………………..Full Article: Source

Real estate prices climb in Tel Aviv region since 2000, but lag elsewhere

Posted on 18 December 2012 by Laxman  |  Email |Print

Real estate prices in Tel Aviv increased 71% between 2000 and 2011 after adjusting for inflation, while rises elsewhere were much lower - and there were even some decreases. According to a report by the IDC Herzliya’s Gazit Globe Real Estate Institute, a main reason was a lack of new homes planned for the Tel Aviv region relative to the population.
The report’s findings will be presented tomorrow at an IDC conference called “How to burst the real estate bubble.” The report was put together by Prof. Zvi Eckstein, dean of the IDC School of Economics; Dr. Efrat Tolkowsky, head of the Gazit Globe institute; and research assistant Nitzan Tzur……………………………………..Full Article: Source

Dubai: 2013 - The year of the savvy real estate investor?

Posted on 18 December 2012 by Laxman  |  Email |Print

Dubai’s property market will grow at a steadier and more stable pace over the next year, providing solid investment opportunities for the savvy investor, says leading executives in the industry.
Independent reports have put the growth in prices of real estate in Dubai through 2012 at anywhere from 7-19 percent, depending on location and the quality of the project. Ziad Al Chaar, DAMAC Properties Managing Director, says that growth is sustainable in the near future, if you know where to look: “2012 has delivered on our predictions at the start of the year - prices in the Dubai market steadily grew with each quarter outperforming the last. In 2013 buyers will definitely be able to benefit from this capital growth, but will need to be very savvy about where they invest and in which projects in each area.” (Press Release)

What is in store for India’s realty market in 2013?

Posted on 18 December 2012 by Laxman  |  Email |Print

The real estate market of the country is expected to pick up in 2013. According to a report released by property consultant, Knight Frank India, the realty market will improve due to the change in policy and regulatory environment, which is likely to create a positive impact on the sector.
The coming year 2013 may change the face for real estate sector if Parliament passes regulation and land acquisition bill, which is expected to enhance the market sentiment. Also, the demand for commercial real estate segment will increase with the approval of foreign investments in multi brand retail in India, said Knight Frank……………………………………..Full Article: Source

China: Home prices may rise 3-5 pct in 2013

Posted on 18 December 2012 by Laxman  |  Email |Print

China’s home prices may rise 3 to 5 percent next year, given a stable real estate policy, JP Morgan said. “As the housing market gradually stabilizes and the government continues the existing property tightening measures, we expect that national house prices will increase modestly by 3-5 percent in 2013,” said Zhu Haibin, an economist with JP Morgan. “A strong rebound or sharp decline in house prices is unlikely in the near term.”
Property tax, which was introduced in Shanghai and Chongqing, is likely to be expanded to other cities in the second half of 2013, but the impact on the housing market will be limited, the research note said……………………………………..Full Article: Source

HongKong: Sky’s the limit for property prices

Posted on 18 December 2012 by Laxman  |  Email |Print

As one of the mostly densely-populated cities in the world, Hong Kong apartments are famously small and wildly expensive – an influx of buyers from mainland China has seen house prices skyrocket.
News late last month that an individual car parking space has sold for HK$1.3 million (€130,000) raised barely an eyebrow in a territory increasingly resigned to hair-raising stories from the world of real estate. This treasured parking spot was located in the New Territories area, Hong Kong’s hinterland, not even downtown……………………………………..Full Article: Source

Singapore home sales fall

Posted on 18 December 2012 by Laxman  |  Email |Print

Singapore’s clampdown on home loans is showing some signs of success, as sales of new private homes fell to their lowest level so far this year in November. Regulators in the city-state tightened rules on new home loans in October in a bid to stabilize prices that have been on the march since the global financial crisis, despite repeated government interventions.
Sales of new private residential units fell to 1,087 units in November, down 44% from October, according to data from the Urban Redevelopment Authority. October’s tally was 26% lower than the previous month’s……………………………………..Full Article: Source

Quiet 2013 predicted for Malaysian secondary property market

Posted on 18 December 2012 by Laxman  |  Email |Print

Prices within the secondary property market are likely to stagnate or rise only marginally next year in Malaysia, the Malaysian Institute of Estate Agents (MIEA) announced. “Prices may stagnate but it won’t drop in 2013,” MIEA president Nixon Paul said.
Nixon added many sellers had the holding power and would only sell if potential buyers could meet their price and that sellers don’t have any urgency to sell at the moment……………………………………..Full Article: Source

Melbourne property market grim in 2013, but there’s more to Victoria than Melbourne

Posted on 18 December 2012 by Laxman  |  Email |Print

Prospects for Melbourne property in 2013 are grim. I expect Melbourne to be the weakest of the capital markets market next year. But fortunately there’s more to Victoria than Melbourne.
Melbourne has two problems: oversupply and a state government that’s lost the plot. Melbourne already has too many apartments in its inner-city market, but developers are intent on building more, and the state government seems hell-bent on helping them……………………………………..Full Article: Source

Spending probably rose in U.S., home sales climbed

Posted on 17 December 2012 by Laxman  |  Email |Print

Consumer spending probably rose in November as Americans set aside the threat of higher taxes next year while shopping for the holidays. Household purchases increased 0.4 percent last month after declining 0.2 percent in October, according to the median estimate from 66 economists surveyed by Bloomberg before Dec. 21 figures from the Commerce Department. Other reports may show home sales and demand for long-lasting goods climbed.
Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd. in Valhalla, New York said: “for the household sector, the housing numbers have been quite good. The labor-market numbers are OK.”……………………………………….Full Article: Source

Luxury winter getaways for less

Posted on 17 December 2012 by Laxman  |  Email |Print

Vacation home prices have fallen almost 40% since the peak and the bargains are attracting buyers, especially at the high end of the market. Here’s a sampling of deals you can find in winter vacation hotspots across the U.S.
Squaw Valley, Calif.: Hosting the 1960 Winter Olympics may have put Squaw Valley on the map, but the year-round mountain resort keeps people coming back with its challenging slopes, quaint village and gorgeous scenery. You can see plenty of those beautiful sights from this lodge-style home. Part of a private community that offers tennis courts and a spring-fed swimming pond, there are large windows throughout the house………………………………………Full Article: Source

U.S. must rethink housing ambitions, BofA’s Moynihan says

Posted on 17 December 2012 by Laxman  |  Email |Print

Brian T. Moynihan, Bank of America Corp.’s chief executive officer, said the U.S. government, lenders and borrowers need to reset their expectation that everyone can own a home.
“We need to look hard at some of the old assumptions and ask the question is homeownership the right solution for everyone?” Moynihan said……………………………………..Full Article: Source

Canada: Property sales drop but prices stay steady

Posted on 17 December 2012 by Laxman  |  Email |Print

House sales may be plunging in many Canadian cities, but prices are still holding up as sellers retreat rather than opt for less. Observers expect to learn that national sales dropped by about 12 per cent in November from a year earlier, when the Canadian Real Estate Association releases its monthly report, expected Monday.
Certain local real estate boards, such as those in Toronto, Vancouver, Montreal and Calgary, have already reported, with all but the latter showing broad declines………………………………………Full Article: Source

UK: Home buyers ‘nervous about year ahead’

Posted on 17 December 2012 by Laxman  |  Email |Print

One in four prospective first-time buyers believe it will take them at least 10 years to have a deposit in place, a survey has suggested. The report from the Building Societies Association (BSA) said that pessimism in the market remained.
This was despite a 34% rise in lending in the mutual sector, the BSA said. The findings contrast with the view of the Council of Mortgage Lenders, who last week predicted a more “positive” year in the housing market………………………………………Full Article: Source

House prices across the country ‘will rise in 2013 thanks to increased mortgage competition and shortage of homes’

Posted on 17 December 2012 by Laxman  |  Email |Print

The beleaguered housing market is set to bounce back next year across England and Wales, according to research. A report by property search website Rightmove predicts an average rise of 2 per cent in sellers’ asking prices in 2013, thanks to increased competition among mortgage lenders and a continued shortage of homes.
This is despite this month seeing the biggest fall in asking prices for more than a decade, with the average dropping 3.3 per cent – £7,772 – to £228,989 in December. The East Midlands was the only region to see a month-on-month price increase………………………………………Full Article: Source

Spain’s property prices continue to decline

Posted on 17 December 2012 by Laxman  |  Email |Print

Spain’s ailing property market showed little sign of recovery on Friday, with the latest figures showing house prices were down about 15 percent in the third quarter.
The collapse in the country’s real estate market in 2008 sparked Spain’s financial crisis as banks and homeowners were trapped with toxic loans and property they could not sell on. Public debt levels then rose to worrying levels as the government rushed to prop up the ailing lenders………………………………………Full Article: Source

Saudi real estate market growing

Posted on 17 December 2012 by Laxman  |  Email |Print

Saudi Arabia’s real estate market estimated at more than SAR 1 trillion is growing at the rate of six per cent annually. It contributes 9.5 per cent to the nonoil GDP. “So real estate is the Kingdom’s second largest economic sector after oil,” said Khaled Al-Hamoudi, president of Qassim University.
Economic consultant Abdullah Al-Ajaji said the construction of 500,000 housing units ordered by Custodian of the Two Holy Mosques King Abdullah at a cost of SAR 250 billion would help reduce real estate prices and rents………………………………………Full Article: Source

India: It’s time to cut real estate prices

Posted on 17 December 2012 by Laxman  |  Email |Print

It’s been a tough year for home buyers, as well as builders. With property prices continuing to hold steady or even rising for most of the year, the middle and even upper middle class have found themselves out of the market. But there are initial signs of correction.
According to data from the National Housing Bank, in the July-September quarter, prices of residential property fell in 10 of 19 cities. Three chairpersons of realty firms and the chief executive officers say this shows where builders are going wrong and what lies ahead for the property market in the near future………………………………………Full Article: Source

China to continue property market control policies in 2013 to check excessive speculation

Posted on 17 December 2012 by Laxman  |  Email |Print

China’s new leadership today said it would continue the nation’s property market control policies next year in order to keep a check on excessive speculation, which in the recent past made housing virtually un-affordable for middle and low income groups. The country will step up the construction and management of low-income housing, as well as the renovation of run-down areas, said a statement issued at the end of two-day central economic work conference conducted by the new leaders here.
Stubbornly high real estate prices have been a significant source of public complaint in recent years, forcing the government to implement a string of policies to keep prices down………………………………………Full Article: Source

China’s property market seems destined for better days in 2013

Posted on 17 December 2012 by Laxman  |  Email |Print

The distinction between residential and commercial titles has become important in the continuing environment of the government’s curbs on property speculation.
Commercial title, which falls under the more commonly used category of “serviced apartment,” has an ownership tenure of up to 50 years, compared with the normal 70 years under the traditional “residential title” units. Utility fees at the commercial title units are usually more expensive. Because the properties are categorized as “commercial” rather than “residential,” they can be bought without restrictions………………………………………Full Article: Source

Singapore: Investors upbeat on real estate outlook

Posted on 17 December 2012 by Laxman  |  Email |Print

Investors in Asia generally have a positive outlook on the real estate market next year with Singapore on the investment radar for many, a survey has found. The majority - 70 per cent - of Asian investors said they were likely to expand their property portfolio and lift their level of investment in the region, according to the Colliers 2013 Global Investor Sentiment survey.
About 41 per cent of respondents were also looking to achieve returns above 20 per cent………………………………………Full Article: Source

Vietnam: Drastic solutions proposed to rescue property market

Posted on 17 December 2012 by Laxman  |  Email |Print

The Vietnam Association of Financial Investors (VAFI) has sent a document to the Prime Minister, suggesting solutions to unfreeze the local property market, whereas economists said the market should not be intervened in. The document was also sent to construction and finance ministers, governor of the central bank, the governments of HCMC and Hanoi and State Capital Investment Corp. (SCIC).
VAFI proposed the State set aside VND8 trillion to subsidize interest rates in the next three years in order to provide low- and middle-income home buyers with preferential lending rates. For example, the buyer of a VND2-billion house can access a lending rate of 7% for the first three years as the State will subsidize 3-5% per year, said VAFI………………………………………Full Article: Source

Australia: National property prices roundup for 2012: RP Data

Posted on 17 December 2012 by Laxman  |  Email |Print

It has been another comparatively weak year for the residential housing market, with data to November indicating that capital city home values have fallen by -0.1% over the year. As we enter 2013, Australia’s housing markets are likely to remain relatively flat. However, in some sectors we may see capital gain increases over the coming year.
As per the current status quo, there is likely to be a continued variance in performances from city-to- city and region-to-region. Property markets in Sydney, Brisbane, Perth and Darwin, where home values have corrected more than the other capital cities, may be the markets to watch for improving conditions………………………………………Full Article: Source

Australia: Where to for house prices in 2013?

Posted on 17 December 2012 by Laxman  |  Email |Print

The usual suspects are talking up the prospects for Australian property prices as the New Year approaches, with permabull and Australian Property Monitors senior economist Andrew Wilson forecasting 3-5 per cent growth nationally, and BIS Shrapnel managing director Robert Mellor calling for between 2 and 8 per cent growth for Sydney.
Such calls range from just equal to, to well above, the expected rate of consumer price inflation. So they’re a return to the usual property mantra that house prices always rise faster than consumer prices because of the “fundamentals” of (a) a rising population and (b) tight supply………………………………………Full Article: Source

Investors fuel U.S. housing recovery

Posted on 14 December 2012 by Laxman  |  Email |Print

Even as U.S. economic growth stutters, the housing market is showing real signs of a rebound: home prices are up, pending sales and constructing activity is rising, and the number of existing homes for sale continues to drop. The big question, amid slow job growth and stagnant personal income: Will it last?
If the housing upswing does continue, it will likely because of the trend’s unique characteristics, with investors, more than consumers, sustaining momentum. The indicators of a housing recovery are both plentiful and nationwide. According to the most recent Fiserv Case-Shiller data, the real estate market during the spring and summer this year was the strongest since the peak of the housing bubble in 2006………………………………………..Full Article: Source

Home seizures rise as banks adjust to foreclosure flow

Posted on 14 December 2012 by Laxman  |  Email |Print

Home seizures in the U.S. rose 5.4 percent last month, the first annual gain in two years, as lenders seek to manage the flow of distressed properties without disrupting the housing recovery, according to RealtyTrac.
Banks repossessed 59,134 homes, up from 56,124 from November 2011, the Irvine, California-based data firm said today in a report. The increase was the first since October 2010, when foreclosures slowed after allegations that lenders were using faulty practices to take property from delinquent homeowners. Seizures climbed 11 percent from the previous month………………………………………..Full Article: Source

US is the most attractive global region for property investment

Posted on 14 December 2012 by Laxman  |  Email |Print

A new survey has found that the Usa is the most attractive region in the world for property investment in 2013. The poll by Colliers International found that America is the most desirable location to buy real estate, followed by Asia and Western Europe, particularly Paris, London and Germany.
The Global Investment Sentiment Survey quizzed over 500 property professionals around the world. It asked property experts for their outlook on property nationally and internationally for the next 12 months and found the Usa to be the preferred location to buy………………………………………..Full Article: Source

Americans more bullish on housing market; 31ct of renters plan purchase

Posted on 14 December 2012 by Laxman  |  Email |Print

Optimism is rising along with home prices as 31 percent of renters plan to buy a home in the next two years, according to Trulia’s new American Dream survey.
That a nine-point increase from 22 percent in January 2011. More than 1 in 4 consumers (27 percent) feel more positive about homeownership than they did six months ago, compared with 19 percent who report feeling more negative………………………………………..Full Article: Source

American dream homes: Prices in 9 cities

Posted on 14 December 2012 by Laxman  |  Email |Print

According to Coldwell Banker, Americans aspire to own a four-bedroom, two-bath home with roughly 2,200 square feet of space. What you’ll pay, however, varies dramatically: from an average of $60,000 in Redford, Mich., to $1.7 million in Los Altos, Calif.
Los Altos, Calif.: Los Altos means “The Heights” in Spanish, an apt name for one of the priciest housing markets in the country. In this Silicon Valley enclave, a typical four-bedroom costs more than $1.7 million, according to Coldwell Banker’s annual Home Listing Report………………………………………..Full Article: Source

Cuba’s ‘new’ real property rights — one year later

Posted on 14 December 2012 by Laxman  |  Email |Print

A year ago, the buzz in Miami about the incipient real estate market in Cuba was almost deafening. My phone rang and rang, and I had to recharge its battery every three hours or so. But once again, we have to concede that Cuba moves at a pace that neither Americans, nor even Cuban-Americans seem to be able to grasp.
Sure, there are some who have gone ahead and ‘invested’ — through straw friends or relatives living in Cuba — in Cuban real estate, bent on benefiting from being among the “first movers.” But all indications are that such ‘investments’ have only had a negligible impact in Cuba, if any (which is not to say they might not still have a significant, and likely negative, impact on the pockets of those intrepid ‘investors’ who dared to make their moves while skirting present Cuban laws)………………………………………..Full Article: Source

banner
December 2012
M T W T F S S
« Nov   Jan »
 12
3456789
10111213141516
17181920212223
24252627282930
31