The housing market is on the minds of many Canadians these days, particularly millennials eager to achieve the financial milestone of home ownership. But hot markets and rising prices may be turning today’s new homeowner into a member of the growing “house-rich, cash-poor” population, with plenty of others wondering if they’ll be renters for the rest of their lives.
It was developed and built by Argentina's Faena Group and contains just 47 residences. But the penthouse is by far the most luxurious
Home prices in Australia posted their biggest quarterly gain in over five years in April to June, led again by Sydney which logged its biggest rise on record.
But data from the Australian Bureau of Statistics (ABS) on Tuesday also highlighted the patchy nature of the country's housing market, with cities in resource-rich states such as Western Australia suffering declines as the mining boom fades.
The national average property price in Canada is forecast to increase by 2% to $442,400 in 2016, according to the latest forecast from the Canadian Real Estate Association.
But there is likely to be regional variation. For example, increases are forecast to be slightly larger but less than 3% in British Columbia, Saskatchewan, Manitoba, Ontario, New Brunswick, and Prince Edward Island, with gains in some provinces reflecting an expected rebound from levels in 2015.
The boom in Canada's housing market continued in August with sales of existing homes edging up 0.3 per cent month over month and holding at levels not far off the five-year high reached in May, according to the Canadian Real Estate Association.
In its latest survey released Tuesday, CREA says sales of existing homes were little changed from July in all local markets, with an even split between those posting increases and those showing declines.
Celtic Tiger leads the eurozone's housing price recovery but OECD warns of dangers of a new credit-driven bubble five years after crash
A decade-long economic boom in Spain, largely supported by vigorous growth in real estate, crashed in 2008 after a global financial crisis exposed a massive property bubble and deep imbalances in the country's banking system.
Chinese home prices rose in August for the first time this year compared with year ago levels, two private surveys showed on Tuesday, adding to signs of recovery in the property sector that could take some pressure off the slowing economy.
Prices of new homes in 288 cities rose an average 0.07 percent in August from a year earlier, the first year-on-year rise since November 2014, a poll by property services firm Real Estate Information Corporation(CRIC) showed.
New Zealand house prices rose at their fastest pace in eight years in August, the government property valuer said on Tuesday, as prices continue to climb in Auckland, the country's largest city.
Quotable Value's (QV) residential property price index rose 11.3 percent in the year to Aug. 31, compared with an annual rate of 10.1 percent in July.
Residential property prices in Dubai continued to fall in the third quarter of 2015 continue to decline and sales are also falling, the latest published data shows.
The Phidar Dubai Real Estate International Demand Index (REIDI) fell significantly in the first half of the year, which, according to the firm is driven primarily by currency fluctuations.
According to Jesse Downs, managing director of Phidar Advisory, there is a lower level of international buyers coming to the market and this is related to currency exchange.
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