National home values in the United States increased to an average of $187,300 in July, the 48th month in row of appreciating values, the latest index data shows.
Home values have risen by 5% over the past year and have been consistently climbing since August 2012, but still remain 4.7% below the peak of April 2007 when the median home value was $196,600.
The index report from real estate firm Zillow shows that Portland, Dallas and Denver reported the highest year on year home value appreciation among the 35 largest metros across the country. In Portland, home values rose almost 15% to a median value of $334,900 while in Dallas and Denver prices were up 11.9% and 11.3% respectively.
In Yongin, a satellite city south of Seoul, orange construction cranes are racing to build gleaming new high-rises, but realtor Kim Woong-jib says he is pointing would-be apartment buyers to older buildings.
The city of a million people has 5,301 unsold new residential units, government data shows, the most in South Korea and a symptom of a growing housing glut that is worrying policymakers.
Existing home sales in the United States lost momentum in July and decreased year on year for the first time since November 2015 with a fall of 3.2%, the latest index data shows.
Total existing home sales fell to a seasonally adjusted annual rate of 5.39 million in July from 5.57 million in June and are now 1.6% below a year, only the second time in the last 21 months this has happened.
The data from the National Association of Realtors (NAR) also shows that the median existing home price for all housing types increased by 5.3% in July to $244,100, the 53rd consecutive month of year on year gains.
Fewer lower prices houses are being sold in Australia with the residential property market seeing more the number of $1 million plus home sales soaring.
Over the 12 months to June 2016 some 14% of all house sales and 7.3% of all unit sales were at a price of at least $1 million, according to the data from real estate firm Corelogic.
To put these figures into perspective, just five years ago 7.5% of all house sales and 4% of all unit sales were within this price range.
Prices of residential sites in Asia increased by 1.9% in the first half of 2016, down from 2.8% in the preceding six months, put office land increased from 1.9% to 2.2%.
Overall development land investment volumes in Asia matched the level registered in the corresponding period last year, according to the Prime Asia Development Land Index from international real estate firm Knight Frank.
As compared to the preceding six months, however, they were 40.4% lower and the index report explains that land markets tend to be more active in the second half of the year, which accounts for 60% of the transactions historically.
Puerto Madero is “a very premium market, the most expensive and exclusive neighborhood in Buenos Aires,” said Mercedes Ginevra, the owner of Ginevra Sotheby’s International Realty.
In May, the Related Group, a Miami-based developer, announced a large luxury project, SLS LUX Puerto Madero. Eighty percent of its 127 condo residences presold within four months, said Carlos Rosso, the president of condominium development for the Related Group. It is expected to be completed in 2019, he said. Prices range from the low $600,000s to $4 million.
In 2015, Provence, which includes the Côte d’Azur, was the most popular French region among international buyers, accounting for 22 percent of all sales, according to the website French-Property.com. At the same time, the British real estate company Knight Frank reported that residential sales across France had increased 12.5 percent from 2014 to 2015 and the company welcomed a more stable economic outlook, which was reflected in the doubling of its own sales.
Norway's new home sales rose in the two months from mid-June to mid-August compared to the same period a year earlier, think tank Samfunnsoekonomisk Analyse (SA) said on Thursday.
US new homes sales jumped in July to their fastest rate in nearly nine years, according to Commerce Department figures.
Low interest rates on mortgages and an improving jobs market have helped boost the US real estate market.
New home sales increased by 12.4% in July month-on-month to a seasonally adjusted rate of 654,000 annual units.
With a new tax on foreign homebuyers in Vancouver expected to slow purchase activity, there is a greater risk that the city's lofty real estate prices would be vulnerable to a potential jump in local unemployment, Fitch Ratings said on Monday.
Earlier this month, Vancouver implemented a 15% tax on foreign home buyers to try to address a lack of affordability for residents.
Opt in here