Two thirds of Australians now think the housing market is vulnerable to a sustainable downturn with the sentiment affecting all regions of the country, a new poll shows.
While the survey results suggests that respondents are concerned about a crash in home values, this remains unchanged from a year ago, and lower than the 68% of respondents who indicated ‘yes’ to this question six months ago.
The higher proportion of respondents who were concerned about a large correction in the housing market was broad with all regions indicating at least 61% of respondents were concerned about a housing market crash, according to the CoreLogic-TEG housing market sentiment survey.
Pending home sales in the United States rose solidly in February to their highest level in seven months and remain higher than a year ago, according to the National Association of Realtors.
Led by a sizeable increase in the Midwest, all major regions except for the Northeast saw an increase in contract activity in February, the date from the forward looking index based on contract signings show.
Overall the index rose 3.5% to 109.1 in February from a downwardly revised 105.4 in January and is now 0.7% above February 2015. Although the index has now increased year on year for 18 consecutive months, last month's annual gain was the smallest.
Weekly rents increased by a mere 0.2% in Australian capital cities in March but overall they are down 0.2% year on year, the latest rental index shows.
In the last 12 months Melbourne recorded the biggest increase in rental rates at 2%, followed by Sydney at 1.4%, Canberra at 1.2% and Hobart at 0.3%. Rents fell by 11.5% in Darwin, by 8.4% in Perth, by 1% in Adelaide and by 0.7% in Brisbane.
The March Rental Review from CoreLogic RP Data analysts also shows that house rents averaged $489 per week in March 2016 while unit rents were $469 per week.
The residential property market in Ireland is set to rebound in 2016 as price momentum has already been growing in the first quarter of the year, according to the latest survey report.
But Dublin is likely to lag behind the rest of the country according to the latest house price survey from MyHome.ie.
The data shows that having declined towards the end of 2015, asking prices for newly listed properties for sale rose by 2.1% nationally and by 0.9% in Dublin in the first quarter of 2016, the first gain in Dublin since the first half of 2015 and follows two quarters where prices declined marginally.
Holiday home sales in the United States cooled off in 2015 but remained at the second highest amount in nearly a decade, new research shows.
The survey report from the National Association of Realtors also shows that investment purchases increased for the first time in five years. And mirroring the strong price growth seen throughout the US, the median sales price of both holiday and investment homes surged in 2015.
They Investment and Vacation Home Buyers Survey, covering existing and new home transactions in 2015, found that holiday home sales last year declined to an estimated 920,000, down 18.5% from their most recent peak level of 1.13 million in 2014.
Demand for office space across major Australian markets is on the rise in 2016, according to new data from Colliers International.
According to the firm’s latest Office Demand Index, a total of 507,799 square meters of demand was recorded in the first quarter of 2016, a 33% increase from the fourth quarter of 2015.
Large businesses looking for more than 3,000 square meters of office space accounted for over 50% of the total area enquired for in the first three months of 2016, while representing just 9% of the total number of enquiries, by volume.
A global powerhouse, domestic and international wealth has fuelled the expansion of New York’s prime residential real estate markets, according to a new analysis report.
New York is one of the most diverse, globally connected and high performing cities in the world and alongside London, it stands apart from any other city as a true global powerhouse, says the prime residential report from international real estate firm Savills.
It points out that as a world leader in financial services, technology and media, New York hosts a large number of global company headquarters, is an important centre of education and a tourism destination.
The prices of homes in Spain increased by 0.6% in February year on year, taking average values to €1,233 per square meter, according to the latest data from the General Council of Notaires.
Prices are strongest in the single family home sector with growth of 3.8% year on year while the price of apartments fell slightly by 0.2% compared to February 2015.
The average price for single family homes is now €1,007 per square meter, for second hand apartments it is €1,350, up 0.6%, and for new apartments it is €1,619 per square meter, a rise of 0.3%.
Sweden's Financial Supervisory Authority may need to do more to dampen soaring mortgage borrowing even after tighter repayment rules are introduced in June, Director General Erik Thedeen said on Wednesday.
New construction of US homes slid in March to a five-month low but was well above last year's pace, signaling continued strength in the economy, data showed Tuesday.
Housing starts dropped 8.8 percent to an annual rate of 1.089 million units from an upwardly revised 1.194 million pace in February, the Commerce Department said.
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