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Real Estate Briefing 05.Feb 2013

Posted on 05 February 2013 by Laxman |  Email |Print

Hedge funds and private equity firms have been rushing in to buy up companies and assets in every part of the housing supply chain, including undeveloped land, homebuilders, foreclosed homes, and building parts manufacturers.
One of the most notable moves is coming from hedge fund manager John Paulson, best known for his big (and lucrative) bets against subprime mortgages in 2006 and 2007. Now, he’s turned his attention to snapping up undeveloped land in areas hardest hit by the housing crisis. “Land is the accordion in the home building equation,” said Michael Barr, who runs Paulson’s real estate investments. “It falls the most in a downturn, but also rises the most in an upturn.”………………………………….Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

The housing rebound is broadening to other parts of the U.S. economy and will likely lend impetus to growth through 2013 and beyond. Climbing home prices are lifting household wealth and boosting the purchasing power of consumers.
Declining mortgage delinquencies and foreclosures are buttressing bank balance sheets, giving them greater leeway to lend. And rising property- tax revenue is fortifying the finances of state and local governments, alleviating pressure on them to cut budgets. “The housing recovery will kick into a higher gear as the year progresses,” said Mark Zandi, chief economist in West Chester, Pennsylvania, for Moody’s Analytics Inc. ………………………………….Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

According to CoreLogic’s latest National Foreclosure Report, which provides data on completed U.S. foreclosures and the overall foreclosure inventory, there were 56,000 completed foreclosures in the U.S. in December 2012.
This is down from 71,000 in December 2011, a year-over-year decrease of 21 percent. On a month-over-month basis, completed foreclosures fell from 58,000 in November 2012 to the current 56,000, a decrease of 3 percent…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

M&G’s Global Real Estate Securities fund manager has questioned the wisdom behind equity investors attempting to buy into a US housing market recovery. Gillian Tiltman, who has run the £80.2m fund since June 2010, said that the US housing market would pick up as part of a cyclical recovery, but warned against hope of a “structural recovery”.
The manager said that home ownership had swelled to roughly 68 per cent in the US before the financial crisis due to the easy availability of mortgages. It had since fallen to approximately 60 per cent, but Ms Tiltman said the eight percentage-point drop was largely down to a “segment of the market that isn’t real”…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

The recently-tightened mortgage lending standards have been widely cited for preventing a faster turnaround in the housing market. But the bigger culprit may be the slowdown in construction loans for builders.
Real estate industry experts and home builders have been warning for nearly a year that the lack of new home construction could slow the housing recovery. That moment may be here. The supply of existing homes for sale in December fell to its lowest level in more than 7 years: 4.4 months’ worth of homes are for sale at the current pace, according to data from the National Association of Realtors…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

To say that these are challenging times for U.S. home sellers would be an understatement. The U.S. economy is growing at a sluggish 2 percent rate. The U.S. unemployment rate is still high, at 7.9 percent, but job growth, while not robust, appears to be trending toward an average of 200,000 new jobs per month.
However, Democrats and Republicans in Washington appear to be set for another showdown over the U.S. budget – i.e. another round of brinkmanship that could stall the U.S. economic recovery…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

Construction PMI for January was 48.7 – the third consecutive monthly fall for the industry. Building work slowed down in January across the UK, raising fears that the fragile construction industry will drag down economic growth again this year.
The latest snapshot of the construction sector showed output continued to fall at the fastest rate since last June. The Markit/CIPS purchasing managers’ index for the sector held at the 48.7 level recorded in December. The reading – which remains below the 50 mark that indicates no change in output – fell short of economists’ forecasts of 49.1…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

More house hunters are contacting estate agents in the UK with the latest figures showing numbers up 41% in December last year since their lowest levels for the month in 2008. The December 2012 Housing Market Report from the National Association of Estate Agents (NAEA) shows the number of house hunters reached an average of 282 per branch. This represents an increase on the three months to December, a high point for the quarter and up 7% on the previous month.
‘December can typically be a challenging month for the property market, as many buyers abandon their search until the New Year. However, December’s figures show a healthy December boost, and a substantial gain on the mid-recession low of December 2008,’ said Mark Hayward, president of the NAEA…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

London’s residential property has traditionally fetched higher prices than houses elsewhere in the UK but the financial crisis has triggered a marked polarisation of the market, with home values falling in every region of the country other than the capital and its near environs.
Underlining the extent of Britain’s wealth divide, real estate consultant Savills has released a new study showing a growing disparity between house prices in London and the South East and those in the rest of the country…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

The Swiss real estate market crept closer toward a bubble in 2012, according to the latest numbers from UBS. Swiss property values went up 6.3 per cent through September 2012, compared with a 1.8 per cent decline in the eurozone.
The UBS Real Estate Bubble Index indicates the risk of an overheating housing market on a multiple-point scale, with anything over two points indicating a bubble…………………………………..Full Article: Source

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

Posted on 05 February 2013 by Laxman |  Email |Print

Residential rally expected to continue but secondary market could slow as developers step up marketing of new home projects. Home sales rebounded sharply last month, driven by local buyers unaffected by the government’s new stamp duty provisions targeting overseas and corporate investors.
Fuelled by excess liquidity and low interest rates, agents say the sales momentum will extend to next month as residential transactions continue to grow. The number of residential transactions jumped 65.2 per cent to 5,430 from December, while the total value of deals surged 66.3 per cent to HK$28.5 billon, data released by the Land Registry on Monday showed…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

Hong Kong monetary chief Norman Chan said more measures are possible to cool the city’s housing market as elevated household debt adds to risks from property- price gains over the past four years.
Debt is “near historic high levels,” Chan, the chief executive of the Hong Kong Monetary Authority, told lawmakers today, citing ratios of 58 percent to 59 percent of gross domestic product in the third and fourth quarters. In a housing and economic downturn, repayment may become more difficult, the official said…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

Australian homebuilders are resorting to discounts, gift cards and help with mortgage payments to compete for dwindling buyers as home sales slow. Stockland (SGP), Australia’s biggest residential developer, is giving rebates and gift cards of as much as A$30,000 ($31,300) in Victoria, Queensland and New South Wales states.
Devine Ltd. (DVN) is matching deposits in South Australia and taking over mortgage payments for as long as a year in Melbourne. Peet Ltd. (PPC) has been offering discounts of as much as A$50,000 in Western Australia, Queensland and Victoria…………………………………..Full Article: Source

Posted on 05 February 2013 by Laxman |  Email |Print

Australia’s property market is showing signs of springing to life this year, with the number of houses listed for sale dropping in January, according to research tracking housing market trends nationally.
Total residential property listings across the country fell 1.9% in January from December, a report by SQM Research showed, an indication demand in the sector is starting to re-build. The report adds to a wave of recent data fanning talk of a recovery in the housing sector this year that would end years of weak activity, falling prices and weak construction…………………………………..Full Article: Source

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