News

Severe Rain and Hail Storms Cause Property Damage Across Chiang Mai

Chiang Mai, a serene haven nestled in northern Thailand, recently faced an unexpected onslaught of heavy rain and ice, leaving a trail of destruction in its wake. Despite the resilience of its residents, the region grappled with the aftermath of nature’s fury. Nature’s Fury Unleashed: On a seemingly ordinary Saturday, Chiang Mai was thrust into chaos as heavy rain and ice wreaked havoc across the landscape. Homes, utility lines, trees, and signs bore the brunt of the onslaught, showcasing the raw power of nature. Despite the intensity of the storm, the community rallied together, displaying remarkable resilience in the face

March 20, 2023 No Comments

New Zealand News

New Zealand Housing Market Predicted to Plummet to Great Recession Lows, says ASB.

New Zealanders’ hopes for home prices have dropped to levels not seen since the Great Recession. Compared to last year at this time, when 49% of respondents expected prices to rise, this year’s ASB home optimism poll found that 43% expected prices to decline. At the height of the GFC, 55% of respondents in July 2008 predicted lower costs in the coming year. ASB senior economist Kim Mundy predicts housing mood will decline even further, even though forecasts haven’t yet reached rock bottom. “The housing market has been weak of late, and it doesn’t look like it’s going to turn

March 10, 2023 No Comments

New Zealand News

Cyclone Gabriel: New Zealand searches for missing as death toll rises

Fearing the mortality toll from Cyclone Gabrielle will rise, New Zealand is still looking for individuals who went missing after the storm. Five verified deaths have occurred due to the cyclone’s destruction of significant portions of the North Island, which resulted in landslides and inundation, displaced thousands of people, and left many towns without electricity and running water. In a press conference Thursday night, Prime Minister Chris Hipkins assured the public that “every possible resource” was being used to locate the missing and save those who were identified but were still inaccessible. Damage was severe in Gisborne, where I’ve just

February 13, 2023 No Comments

Australia News

Why first-time homebuyers are at a five-year low

As a result of increasing mortgage rates, decreasing costs, and the fear of investing in a sinking market, the number of first-time homebuyers has dropped to levels not seen since 2017. According to ABS data, only 7646 first-time purchasers obtained mortgages in December. New lending agreements have been relatively low since June 2017 (7,642). Ray White chief economist Nerida Conisbee stated that first-time purchasers were discouraged from purchasing due to the possibility of future Reserve Bank interest rate hikes and the associated ambiguity. Both purchasers and vendors were scared off, which reduced the number of houses available for sale and

February 8, 2023 No Comments

Featured

As China reopens its border, Thailand implements new entrance rules.

As Thailand readies itself for an anticipated surge in visitors following the reopening of China’s borders, the country’s aviation authority has swiftly implemented stringent measures to ensure the safety of its populace. With the resumption of international travel, Thailand is taking proactive steps to mitigate the risk of COVID-19 transmission and protect public health. In light of the evolving global pandemic situation, the Civil Aviation Authority of Thailand (CAAT) has announced robust protocols for inbound travelers. These measures aim to safeguard both tourists and local residents against the potential spread of the virus, particularly in densely populated areas and tourist

January 17, 2023 No Comments

New Zealand News

Nearly 40% of all homes for sale have had their prices reduced.

New data shows that the price of almost 40% of properties that were listed with a price in 2022 was later cut. According to new information from realestate.co.nz, property owners are hesitant to advertise their homes for sale. Across the country, December had a 26% decrease in new property listings compared to December 2021. In the last month, only Taranaki and Coromandel had more postings than they had a year ago. However, there remained a wide variety of other homes from which to choose. Coromandel, Nelson and bays, Taranaki, and the central North Island all had more than double the

January 16, 2023 No Comments

Investments

Should you purchase a London house in 2023, as mortgages outpace renting?

Despite declining home costs, renting in the nation’s capital has surpassed buying for the first time in 13 years. In this case, it’s essential to consider if you should enter a volatile market or wait it out. In London, the cost of mortgage payments has surpassed the cost of rent due to increasing interest rates, the cost-of-living problem, and mounting worries about a recession. Buying a home in the capital is now more expensive than renting by £832 a month, according to exclusive data reviewed by Homes & Property, even though house prices have begun to decline. Many first-time buyers

January 13, 2023 No Comments

News

In 2022, London property sellers earned a record £200k profit.

The typical homeowner in London earned £219,110 on selling a home in 2018, or about $23,560 annually. People who purchased a property within the previous 20 years and sold it in 2022 achieved unprecedented six-figure earnings, with the highest gains seen in London. According to recent statistics compiled by Hamptons, homeowners in 17 London boroughs, including Camden, Hackney, and Brent, made profits of more than £200,000 when selling their homes. Sellers in the capital city typically received £23,560 a year after their residences were on the market for 9.3 years. In the United Kingdom, the average annual income for a

January 12, 2023 No Comments

New Zealand News

Home prices: Seven New Zealand districts in buyers’ markets after home values declined in 2022

New data reveals that towards the end of 2022, seven out of New Zealand’s regions have become buyers’ markets due to falling home prices. According to Realestate.co.nz, the property market has seen a significant change in 2022, after an “interesting” year in which the national average asking price trended lower in reaction to growing inflation, interest rate rises, and changed lending restrictions. “Many outside forces have been at work this year. Not only has the New Zealand economy been booming, but the rising prices we saw during the height of pandemic restrictions have also begun to level down, “According to

January 11, 2023 No Comments

Australia News

A healthcare real estate firm reported a $65 million decline in property portfolio value.

The only healthcare-focused property trust listed on the NZX, Vital Healthcare Property Trust (VHP), has seen its property portfolio lose $65 million in value in the last six months. Having just had an independent appraisal of more than half of the company’s assets, VHP, which owns 47 properties spanning Australia and New Zealand, made the news. Stuff reports that the value of the healthcare real estate company’s $3.6 billion portfolio at the end of September fell by 1.9% from the end of June, while the value of the company’s 16 New Zealand subsidiaries, which included hospitals, medical offices, and ambulatory

January 10, 2023 No Comments