March 18, 2024
Australia News

Property price demand drops to attract budget-conscious consumers.

As sellers lower their expectations to get deals done amid the market downturn, new data indicates that auction clearing rates had improved to levels last seen before interest rates began to increase. As the shock of seven interest rate hikes fades, brokers report that buyers are returning to the market with a clearer understanding of their finances. The once-booming housing market has begun to decline due to a rise in the cash rate to 2.85 percent. Auction clearing rates have increased for three consecutive months, crossing the 60% level despite continuing price declines. In a market where buyers’ budgets are

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March 18, 2024 No Comments
UK News

London property prices would have dropped by almost £50,000.

House prices in Tunbridge wells may soon stop soaring after a prominent estate agent predicted an 11% drop in local home values by the end of 2019. Savills made its forecasts after the Bank of England (BoE) implemented the highest increase in interest rates in a generation, increasing mortgage payments for millions. UK base interest rate increased by 0.75 percentage points on Thursday, November 3; this is the most significant increase in the rate since 1989. The Bank of England estimates that this will result in an annual increase of roughly £3,000 in mortgage payments for families due to renewing

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March 18, 2024 No Comments
Australia News

Is There Going To Be A Crash In The Australian Real Estate Market?

The significant rise in Australian property prices in 2020 and 2021 is no secret to anybody who has tried to sell or buy a home in the last few years. However, real estate values have been declining recently, and in certain cities, the decline has been significant. Two of the most pressing concerns for investors are how far the market will drop and whether the real estate market will also collapse. According to Eliza Owen, Head of Research, Australia at CoreLogic, “Australia’s housing market had a recent high in April 2022; at that time, the market had grown by around

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March 18, 2024 No Comments
New Zealand News

The most significant housing price decline since REINZ records started.

The Real Estate Institute of New Zealand (REINZ) reports that rising interest rates are deterring purchasers from entering the housing market, even though there are almost 75 percent more homes available than at the same time last year. It has issued its October statistics, which indicate a 1.9% rise in the national median price compared to September but a 7.5% decline year-over-year. The monthly national median price was $825,000. The institute’s House Price Index (HPI), which gauges the changing value of residential property throughout the country, showed an annual decline of 10.9%, or 12.4% from its November 2021 high. According

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March 18, 2024 No Comments
UK News

American Dream: Americans’ Interest In Purchasing London Real Estate Doubles

Favorable currency rates, the present need to diversify portfolios, and the perceived safety of the British market have all contributed to a rise in interest from American investors in excellent London property. According to Nest Seekers International, interest in luxury properties in London among American buyers increased by half last month. The international real estate agency has just hired two new Americans, Shelby Coleman on the East Coast and Natalie Hernandez on the West Coast, who will be responsible for connecting the American and British real estate markets throughout the year 2023. Because of the changes in the market, Nest

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March 18, 2024 No Comments