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Real Estate Briefing 02.Jan 2013

Posted on 02 January 2013 by Laxman |  Email |Print

Without a doubt, the U.S. housing market has been the most successful sector of the economy this year, and Wednesday’s Case-Shiller home-price index report — which showed a fifth consecutive month of year-over-year increases in home prices nationwide — was a late Christmas present for homeowners across the country.
The housing-market “bottom” was one of the biggest business stories of 2012. After years of falling home values, the data clearly showed that the bleeding stopped somewhere in the first part of 2012 and that home prices have actually begun to slowly rise since then. In addition, other indicators like housing starts, new home sales and foreclosure statistics all point toward a healing housing sector………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Happy New Year, and welcome to 2013! We’re barely into the new year, and we’re already thinking about what we can expect from the housing market in the next 12 months. Luckily, our friends at online real estate site Trulia were thinking the same thing.
They rounded up 13 of the healthiest markets in the U.S. going into 2013, and 13 of the least-healthy markets. In coming up with their lists, they took into account how local employment, foreclosures and home sales and prices are affecting each market. Click through the gallery below to see which real estate markets are off to a good start in 2013 and which are already down on their luck in the new year………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Cities with strong job growth, low vacancy rates, and low foreclosure inventory made Trulia’s list of the 10 healthiest housing markets for 2013. According to Jed Kolko, chief economist in charge of Trulia’s housing research, solid fundamentals—without extreme price swings—are what made these markets strong.
Trulia reports that “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

Posted on 02 January 2013 by Laxman |  Email |Print

In 2012, the national housing market finally turned a corner. We’ve now experienced 13 straight months of home value appreciation. Sales were up significantly over 2011 as buyers returned to the market, boosting demand.
So what will 2013 have in store? Here are five things consumers can expect to see in the housing market next year: The national housing market hit bottom in October 2011, and home values have since risen 5.3 percent from that trough. The most recent Zillow Home Value Forecast calls for 2.5 percent appreciation nationwide from November 2012 to November 2013………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

The bust of the housing market five years ago created one of the cheapest times to buy. Across many parts of the U.S., even in some of the priciest markets including New York and Honolulu, it has become cheaper to purchase a home than rent, according to Trulia’s Rent vs Buy report. Record-low interest rates on mortgages have also made buying more affordable.
That’s changing, however. In 2012, prices hit bottom. Finally! While that tells us the market is healing, it could also mean buying will be less affordable in 2013. Asking prices for homes for sale rose 3.8% in November from a year earlier — one of the biggest gains since the housing market crashed in 2007………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Bolstered by a strengthening economy and improving housing market, real-estate stocks capped off 2012 with robust returns that outpaced the broader stock market.
The Dow Jones Equity All REIT Index, which tracks 136 real-estate investment trusts, delivered a total return of nearly 20% for 2012, more than double the 7.5% gains in 2011 and the fourth consecutive year that REITs outperformed the Standard & Poor’s 500 stock index, which gained 16% in 2012. The Dow Jones Industrial Average also lagged behind REITs, posting a total return just over 10%………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

The 12-month change in the Teranet-National Bank House Price Index has decelerated in recent months to 3.4 per cent, led by declines in Vancouver (-1.4 per cent) and Victoria (-1.7 per cent).
Some people interpret this weakness as a sign that a housing crash has started – see, for example, the Canadian Business article “Canada’s housing crash begins.” I don’t see a collapse in 2013 for several reasons. One is the highly supportive monetary environment………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Estate agents predict a difficult market in 2013, but one man’s gloom is another’s gold mine. Graham Norwood outlines the risks and rewards of the year ahead. Doom-mongers warn that 2013 could be an unlucky year. An asteroid is expected to whizz near the Earth in February, and the Mayan apocalypse prophecy that didn’t come true this year might just be running late. Not forgetting, of course, that ominous number “13”.
Some property experts are certainly pessimistic about the state of the market………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Britons became more optimistic about the housing-market outlook in December compared with two months earlier as more people predicted price increases, according to Halifax, which said it expects a stable market in 2013.
A gauge of the outlook for property prices rose to 20 from 15 in October, the mortgage unit of Lloyds Banking Group Plc said in a report in London today, citing a survey. Thirty-eight percent of those questioned in December expect prices to rise in the coming 12 months, compared with 35 percent in October………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Investors bought 30 billion pounds ($49 billion) of income-producing property in the U.K. this year, about 9 percent less than in 2011, according to broker Jones Lang LaSalle Inc. (JLL).
London real estate deals totaled 18 billion pounds in 2012, the most in four years, the Chicago-based broker said in a report today. Purchases outside the U.K. capital reached 12 billion pounds, the lowest amount in that period………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

House prices in Ireland rose at the fastest pace in more than six years in November, as the country recovers from Europe’s worst real estate crash. The average cost of a home in the Emerald Isle rose 1.1pc in the month of November, the most since 2006, according to figures from the country’s Central Statistics Office.
The rise compares to a fall of 0.6pc in October and a decline of 1.5pc in November last year. In particular, house prices in Dublin performed strongly, with prices up 2.7pc in November………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

German residential property investment volumes are expected to decline in 2013 after reaching a post-financial crisis peak this year amid a search by investors for haven assets.
A partial revival in financing markets and the availability of several large property portfolios helped to stimulate deals during 2012, when almost €11bn was spent by investors on German residential property………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Despite the development boom in state-of-the-art luxury homes in Kenya, the country’s upper class has fallen on hard times and can no longer afford them, according to economic experts here. Instead, Kenya’s formerly wealthy have now become part of the continent’s growing middle class.
According to the African Development Bank, by 2010 Africa’s middle class had risen to an estimated 34 percent of the continent’s population or nearly 350 million people – up from about 126 million or 27 percent in 1980………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Players in the nation’s construction and housing sector are simply treading water to keep afloat. The situation is so frustrating that everyone is awe-struck, and has taken the wind out of the sail of real estate brokers who find themselves in a binder over the economic downturn.
The property market closed last year with sector operators hoping there would be some slight improvement in the market at the dawn of the New Year. Instead, the supply of unsold homes has increased since last year and real estate practitioners say most of the enquiries they receive come from first-time buyers, who hardly return………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

At a time when the Ministry of Housing is tightening the noose on those who stall to pay their residential rents, the ministry will implement the “Ijarah” system in mid-2013. The system protects the rights of tenants and landlords with the participation of seven government agencies, sources said.
The Ministry of Housing declared that the Ijarah project operates in accordance with a time plan. It pointed out it had entered the second phase, which is related to monitor real estates as well as tracking the payments of tenants………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Property investors eyeing golden investment opportunities in Mena for 2013 should bank on residential assets, specifically buildings and compounds. According to a recent report by Jones Lang LaSalle, the residential sector is most in demand in Mena, mainly by private investors that dominate the Middle East market. Investment activity and prices in the residential segment have been up in the past 12 to 18 months.
The total residential transactions for 2012 totaled to Dh10.3 billion, up 49 per cent from Dh6.9 billion for the corresponding time a year ago, read a recent CBRE report………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

With the end of the year days away, a look back sees a year of high inflation which lead to a tighter monetary policy. Despite the demand for an easing of the stringent policies, the industry has seen rules and regulations continue to tighten by the Reserve Bank of India (RBI). The bank was unable to bring down policy rates that would have helped ease the pressures of inflation.
The indications of the inflation rate cooling down is a welcome site, but is likely the result of the central bank infusing more liquidity into the banking system. That move is handled by a cut in the cash reserve ratio (CRR). The move has been cheered on by the markets, and home loan interest rates began a welcome downward trend as well. This occurred while more tough news of deeper cuts in the rates, which can be expected in the early run of 2013. (Press Release)

Posted on 02 January 2013 by Laxman |  Email |Print

China’s home prices rose in November from a month earlier as stimulative policies from Beijing underpinned demand despite property purchase restrictions in place since early 2010.
Critics have said Beijing must use market instruments such as property taxes to control home prices, not ad hoc controls such as restrictions on the number of homes Chinese can buy. Property investment accounted for 14.4 percent of China’s gross domestic product in the first nine months of 2012………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Industry observers say China’s real estate sector is likely to pick up steam in 2013, as they expect increased housing sales due to growing market demand. The anticipation, which comes amid reports of rebounding home prices and increasing housing transactions in some cities, suggests future complications in the government’s campaign to rein in the country’s runaway housing prices.
Despite strict control measures, many large property developers have reported good sales and an improved financial situation in 2012, said Zhang Dawei, a marketing director with the Centaline Group, a Hong Kong-based real estate company………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

The average home price on the mainland is forecast to increase to 10,224 yuan (HK$12,550) per square metre by 2025, up 105.16 per cent compared to the price in 2011, according to Jefferies Hong Kong.
The average home price in 2011 was 4,993 yuan per sq metre. China’s average residential housing price dovetails with the nation’s gross domestic product figure, said Christie Ju, an equities research analyst at Jefferies, in a research report released last month………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Stable demand from local luxury home buyers in Beijing may continue to help the capital city’s top-end property market grow steadily this year despite the government’s ongoing tightening measures.
Having become fed up with the terrible traffic situation near her apartment, Alice Lan started to look for a new home six months ago and finally settled on a villa project in Yizhuang in the southeast of Beijing last month. The 4,090-square-foot townhouse with outdoor garden cost Lan and her husband 10 million yuan (HK$ 12.3 million)………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Leading players are expecting potential purchasers to return after the Lunar New Year when sentiment is likely to swing upwards. Property stamp duties announced at the end of October are leaving deep scars in Hong Kong’s housing market, with sales activity plunging about 70 per cent and prices retreating.
However, some leading developers believe that time can heal all wounds. Cheung Kong (Holdings), Sun Hung Kai Properties, Kerry Properties and HKR International are betting that buyers - local or non-local - will come back, given enough time. That could be after the Lunar Year holiday………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Property prices in Thailand are anticipated to grow by 5-10 percent in 2013, with condominiums in the THB0.8-3 million (US$26,000-98,000) price range still occupying the biggest share of the market, according to the Bangkok Post.
Positively, Anukul Ratpitaksanti, deputy managing director for asset management at Plus Property, said, “In 2012, Thai real estate saw significant growth in virtually all segments because consumer confidence was restored after the devastating floods in 2011”………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Vietnam’s real estate market has been in the doldrums for the past five years, but more especially in 2012, and there are no indications of recovery in the coming year.
“If the government does not intervene with appropriate and timely measures, the real estate sector would suffer more,” an executive of a real estate firm, who declined to be named said………………………………………..Full Article: Source

Posted on 02 January 2013 by Laxman |  Email |Print

Home values in Darwin and Sydney recorded the largest rises in prices over the year to December 31, up 8.95 per cent and 1.47 per cent respectively, while Melbourne recorded the steepest fall during the period, with values dropping 2.86 per cent.
The mixed performance saw home values across Australia’s five major capital cities dip 0.22 per cent over the month to December 31, pulling values down 0.44 per cent lower over the year, according to the RP Data Rismark monthly index of house and apartment prices………………………………………..Full Article: Source

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