The rate of residential property price growth in capital cities in Australia eased during the final quarter of 2015, according to the latest data from the Australian Bureau of Statistics.
The annual growth rate of home prices across Australia’s eight capital cities eased to 8.7% in the final quarter of 2015, driven in part by a deceleration of Sydney dwelling price growth.
A breakdown of the data shows that year on year price growth remained strongest in Sydney with prices up 13.9%, followed by Melbourne with growth of 9.6% and Canberra with prices up 6%.
The market for luxury homes in the Hamptons, the summer playground for Wall Street's wealthiest, is losing some of its luster as financial markets limp along for a second year.
The average price of the 10 most expensive homes sold in this cluster of towns, villages and hamlets on Long Island's east end was $35.5 million in 2015, 20 percent lower than the $44.6 million recorded the year before, according to real estate brokers Town & Country Real Estate in East Hampton.
British Columbia pledged on Friday to crack down on real estate contract assignments - dubbed "shadow flipping" by local media - in a new effort to help cool down red hot housing markets, particularly in the Vancouver area.
Shadow flipping is where a party agrees to buy a property for a set price, but before the sale closes, they resell the contract to a third party for a higher price, taking the difference between the original and new selling price as profit.
Though home prices fell in Latvia in the second part of 2007 by as much as 65 percent, and the economy was close to collapse, things have turned around since 2010, largely thanks to international aid and a government residency permit program, agents said.
“More than any other sector, housing went through a shock in 2008 and 2009 that gave everyone a good lesson,” said Aldis Riekstins, the head of customer services with Latio, a real estate company with offices in Latvia.
A 2010 change to immigration policy enabled any non-European Union buyer of a home costing at least 143,000 euros, about $162,000, in a large city, or 72,000 euros, about $81,000, elsewhere, to apply for a five-year residency permit in Latvia. But in the fall of 2014, the minimum price for a property in the residency permit program was raised to 250,000 euros, about $283,000, in any part of the country.
A large fire has hit at least two residential towers in the United Arab Emirates, in the third such incident in a little more than a year.
The fire struck one tower in Ajman emirate, north of Dubai, before spreading to an adjacent block.
Residents were evacuated, but several have reportedly been treated for breathing problems and minor injuries.
On New Year's Eve, a large fire engulfed the luxury 63-storey Address Hotel in central Dubai.
Over three quarters of households in the US would purchase a single family home if they were to buy in the next six months, and 79% of renters would choose to buy outside of an urban area, new research shows.
The latest quarterly consumer survey from the National Association of Realtors also shows that confidence about now being a good time to buy is waning amongst renters, particularly in the West where prices have solidly risen.
Some 85% of current home owners and 75% of renters said they would purchase a single family home, while only 15% of home owners and 21% of renters said that would buy in an urban area.
Last year is generally regarded as having been one of growth for the residential property market in Ireland but a new analysis shows how Dublin experienced a slowdown towards the end of 2015.
Overall sales increased by 10% compared to 2014 but a closer examination of the detailed monthly data from real estate firm Savills reveals a very different picture.
Year on year growth in housing transactions fell continuously throughout 2015, slipping from a positive 75% in January to an outright decline of 18% in December. The report explains that this reflects two major policy changes which impacted on demand.
Switzerland’s property markets are currently providing strong growth for investors with the latest data showing total returns of 6.6% in 2015.
This was up from 5.2% in 2014, which the index report from investment support tools firm MSCI says reflects continued strong growth in the Swiss properties sector.
It also says that the strength of Swiss property market signals that the sector benefited from the Swiss National Bank’s (SNB) move last year to scrap the franc’s peg to the euro and lower interest rates.
Residential property in Miami, one of the most popular locations with overseas buyers in the United States is seeing prices continue to rise, the latest index figures show.
The median sales price for single family existing homes rose 10.3% year on year in February to $270,221 while that for condominiums increased 9.5% to $206,950, according to the data from the Miami Association of Realtors.
However, median prices are still significantly below their peak in 2007 and currently remain around 2004 levels despite some sectors seeing strong growth. For example the condo market has recorded prices rises in 56 of the last 57 months.
Existing home sales in the United States tumbled in February amidst unshakably low supply levels and steadfast price growth in several sections of the country, according to the latest index report.
But prices are still increasing with the data showing that the median existing home price for all housing types in February was $210,800, up 4.4% from February 2015. It was the 48th month in a row for price growth.
The data from the National Association of Realtors also shows that all four major regions saw sales fall, led by the Northeast and Midwest, with overall transactions down by 7.1%, the index report data shows, but sales are still 2.2% higher than a year ago.
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