Property prices in key cities across the world increased by 3.5% on average in the second quarter of 2019, led by annual growth of 25% in Xi’an in Chine, the latest international index shows.
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The residential sector saw higher intentions for the multi-family component, while the commercial component of the non-residential sector also saw an increase.
Residential property sales increased by 3.5% month on month in July and are now up 12.6% compared to the same month in 2018, the latest national real estate index shows.
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Growth in Toronto-area home sales outpaced an increase in new listings in July, as potential buyers adjusted to stricter mortgage rules that came into effect in 2018, the Toronto Real Estate Board said in a release on Tuesday.
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Residential property sales were little changed in June 2019 from the previous month, up just 0.2%, while the number of newly listed home rose by 0.8%, the latest agency figures show.
Prime property prices in key cities around the word are continuing to moderate with the latest data showing they increased by 1.3% year on year, down from growth of 4.3% two years ago.
The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices fell 0.4 percent last month from January.
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