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Real Estate Briefing 18.Apr 2012

Posted on 18 April 2012 by Laxman |  Email |Print

It’s been a long time since the market for new homes has looked this good. Rising rents and a healthier job market are inspiring more people to consider buying. Builders are responding to the demand by laying plans for more homes this year than at any other point in past 3 1/2 years.
And banks are helping both by approving more loans.All that points to a better year for the housing market, though a full recovery could take several years………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

U.S. builders requested the most permits in March for single-family homes and apartments in 31/2 years, suggesting that many expect the housing market to improve over the next year.
The Commerce Department said Tuesday that permits, a gauge of future construction, rose 4.5 percent to a seasonally adjusted annual rate of 747,000 in March. That’s the highest level since September 2008. The rise in permits helped offset a slower month of construction………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Zillow Inc. said Tuesday its real-time measure of 30-year fixed mortgage rates rose for the first time in four weeks. The 30-year fixed mortgage rate on Zillow’s Mortgage Marketplace edged up to 3.76%, from 3.73% a week earlier. The rate hovered around 3.7% to 3.77% for most of the week.
Last month, a string of positive economic news helped lift Zillow’s measure of 30-year mortgage rates to its highest level in five months. But Zillow said Tuesday that a lack of significant U.S. or international news to rattle the markets helped stabilize mortgage rates close to historical lows this week………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

The number of U.S. home short sales surpassed foreclosure deals for the first time as banks became more agreeable to selling houses for less than the amount owed on their mortgages, according to Lender Processing Services Inc. (LPS)
Short sales accounted for 23.9 percent of home purchases in January, the most recent month available, compared with 19.7 percent for sales of foreclosed homes, data compiled by the Jacksonville, Florida-based company show. A year earlier, 16.3 percent of transactions were short sales and 24.9 percent involved foreclosures………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Toronto-Dominion Bank (TD) expects recent regulatory draft mortgage-underwriting guidelines will help “temper” Canada’s hot housing market, a top executive said Tuesday.
The Office of the Superintendent of Financial Institutions last month released for industry comment proposals that aim to tighten mortgage lending practices, reduce home equity lines of credit and improve board oversight and disclosure………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

While Canada’s high-flying housing market continues to stabilize, it’s increasingly evident that one city — Toronto — is a glaring exception.
In sharp contrast to price moderation in most cities and a significant drop in Vancouver, where buyers are being priced out of the country’s costliest market, Toronto buyers are on a spending spree — one that looks as if it won’t end well………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

International real-estate investors increasingly are looking to buy student accommodation, health-care facilities and hotels in Europe, industry observers say.
While some investors are driven by the prospect of higher returns and more-stable income streams, others simply can’t find good deals in traditional sectors such as commercial and office space amid a shortage of stock………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

European retail real estate volumes during the first three months of 2012 fell 60% compared with the same period the year before, according to Jones Lang LaSalle.
Following ‘exceptional’ volumes in 2011, JLL’s preliminary analysis suggests that direct investment in retail real estate for the first quarter of 2012 is likely to be in the region of EUR 3.8 bn, representing a significant decrease on total volumes in Q1 2011 and Q4 2012 of EUR 9.9 bn and EUR 8.4 bn………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Commercial property investment volumes in Central and Eastern Europe (CEE) amounted to EUR 900 mln during the first quarter of 2012 (Q1 2012) - the lowest volume seen since Q3 2009 - according to the latest data from CBRE.
The underlying factors behind the lower volumes relate to less financing being available and narrowing investor requirements………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

U.K. commercial real estate values fell for the fifth straight month in March as the country’s economic woes crimped returns, Investment Property Databank Ltd. said.
The average value of stores, offices and warehouses declined 0.3 percent last month from February, IPD said……………………………………….Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

House prices have shown only a modest rise on a year ago, with first-time buyers facing much steeper increases than existing owners,official figures showed.
The typical house price was £224,473 in February, a 0.3% year-on-year rise, the Office for National Statistics (ONS) said, as analysts warned that the weak economy and low consumer confidence is likely to drag prices down in the coming months………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Expats who want to buy a home outside the UK will need to approach foreign lenders to help them finance their purchase. But that doesn’t mean having to do business with a lender who doesn’t speak your language.
John-Paul Busby of French Private Finance is based in the UK and specialises in sorting out mortgages on French homes for UK expats living there or elsewhere abroad – it has many clients in the Middle East who want to buy homes in France………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

The Ministry of Interior has asked provincial governorates to ensure the distribution of prizes do not violate the country’s regulations governing property ownership.
Recently the number of prizes announced by businesses at festivals and souks have increased and some of the rewards are residential apartments. Since the contests are open to all, there is a chance an expatriate could win an apartment, Al-Watan daily reported………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Buying a house has just got cheaper. With the RBI slashing the short-term lending rate from 8.5 per cent to 8 per cent, consumers can look forward to a reduction in interest rates on housing loans.
Real estate players also welcomed the 50 basis point cut in the rates saying it will boost liquidity in the market and improve their cash flow situation………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Nirmal Bang has come out with its report on real estate result preview. The research firm believes the volume recovery hinges on price correction in overheated markets, faster approvals for projects and quick project execution.
“We expect 4QFY12 results of companies under our coverage universe to improve sequentially on account of uptick in execution and projects crossing the threshold limit. New launches during the quarter were a mixed bag with Bangalore and Chennai continuing to witness strong absorption………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Shanghai will maintain its tough grip on the property market in the second quarter to reach its annual target of “stable while dipping” house prices and carry on with its value-added tax reform trial to keep the city’s growth stable, Mayor Han Zheng said.
“We have achieved stable growth in the first quarter, but we face issues like the pressure of economic downturn, inflation and the difficulties confronting small to medium-sized businesses,” Han said……………………………………….Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Demand for residential property in Sydney, Melbourne and Brisbane is expected to pick up slowly next year while retail property languishes at the bottom of the cycle, a survey shows.
An Australian Property Institute (API) survey of more than 30 industry players also predicts the current upswing in the commercial and industrial property sectors will continue into 2013 and beyond………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Sydney and Melbourne’s housing markets are at least two years away from shifting out of the current trough, but once the momentum starts, the rise will be strong, according to the 28th annual Australian Property Directions Survey.
Using the property clock system, whereby 12 noon to 6pm is a downswing, the data shows that the Sydney residential property market has shown little movement over the seven years that this data has been collected and is not seen as making significant progress over the next two years………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

Residential property sales in New Zealand increased by 25.3% in March compared with a year ago, the best monthly result the market has recorded since November 2007.
The national median house price reached a new record high of $370,000, up 1.4% compared to March last year, the data from the Real Estate Institute of New Zealand (REINZ) also shows. Auckland also recorded a new record median of $495,200, up 5.4% compared to March 2011………………………………………..Full Article: Source

Posted on 18 April 2012 by Laxman |  Email |Print

New Zealand is unlikely to experience an overheated residential housing market in the near future as indications are for a slow improvement, a BNZ-REINZ survey indicates.
BNZ chief economist Tony Alexander said the April survey of more than 10,000 licensed real estate agents around New Zealand had found that, in general, conditions were perceived as strong in the marketplace………………………………………..Full Article: Source

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