listing

UK News

London’s Property Market Sees Surge in Million-Pound Homes

There was a period when having a house worth more than £1 million (currently about $1.186 million) in the British city signified something. Not any longer, though. According to official government statistics from the United Kingdom, the typical price of selling property in London is £537,510 (about $637,200). However, owning a seven-figure home in the nation’s capital is becoming increasingly standard. The average selling price of a home in 41% of London’s 283 postcode areas was £1 million or more as of November 2022, according to data from the estate agency Hamptons. In the two years between 2021 and 2022,

March 13, 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

Australia News

Rising Mortgage Rates Take Toll on Young Australians, but First-Time Buyers Remain Optimistic

Despite falling home costs due to higher interest rates, youthful Australians are being shut out of the market. According to the latest statistics from the Australian Bureau of Statistics, the number of people purchasing their first house in January fell by 8.1%, reaching its lowest since February 2017. Six years ago, in that very same month, the Australian Prudential Regulation Authority declared an assault on interest-only and investment loans, which triggered a decline in the housing market. In January 2021, two months after the Reserve Bank of Australia reduced interest rates to a record low of 0.1 percent, there was

March 6, 2023 No Comments

property News

Thailand: Lifull Acquiring FazWaz and Dot Property Partnership

In the ever-evolving landscape of Southeast Asian real estate, strategic collaborations and technological advancements are reshaping the industry. The latest move comes from Japanese portal provider Lifull Co, which recently made headlines by acquiring FazWaz Group and forging a partnership with Dot Property Co, both deeply rooted in Thailand’s vibrant economy. Founded in 2015 by Brennan Campbell, Michael Kenner, and Paul Trayman, FazWaz swiftly established itself as a prominent player in Thailand’s real estate market. Their innovative approach, blending a real estate platform with cutting-edge property technology solutions, captured the attention of industry insiders and clients alike. FazWaz’s offerings, such

February 28, 2023 No Comments

Australia News

Landlords Cannot Solve Australia’s Housing Crisis.

Most federally elected members of the Australian Labor Party are also landowners. This may be why they have been unable to solve the housing shortage. In Australia, the property problem is once again the main topic of conversation. The ninth consecutive interest rate hike by the Reserve Bank of Australia can put millions of people under even more financial strain on account of their mortgages. The main piece of housing legislation pushed by the Labor administration has been halted in Parliament due to its many flaws. Then, rather uncomfortably, it came out that Prime Minister Anthony Albanese is a landlord

February 16, 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

Sydney Housing Crisis: 35% Increase to Renters

Millie Bannister was already worried about the rising cost of living in Sydney when she got a note from her landlady proposing a 35% rent rise. The 26-year-old executive director of the mental health organization Allknd says the rent rise will alter her lifestyle and career goals, prompting some to suggest that the state government should set price limits. Moreover, she said it was raised by $60; the new rise is $270 per week, or 35%, or roughly $12,000 annually. The situation is depressing and disheartening, and almost devastating. Allknd did not think that a typical individual can afford a

February 10, 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

London ranks fourth in worldwide home price performance.

London’s property market lags behind the rest of the UK regarding average property price performance. Still, it is among the top four most desirable markets worldwide regarding yearly property price increases. EasyMoney, a peer-to-peer real estate investing platform, analyzed property market prices in 15 of the world’s most desirable property market hotspots, focusing on annual home price rises and the markets’ evolution since the outbreak. The data demonstrate that Miami has the highest yearly home price rise worldwide. The annual increase in the city’s home prices was 23.7%, while the increase from the fourth quarter of 2018 to the first

January 31, 2023 No Comments

Australia News

Australia’s Real Estate Prospects For 2023

We highlight some fundamental elements supporting the growth of Australia’s diverse real estate markets. The Australian real estate market will continue to be influenced by various variables in 2023. There are some bright spots in the next year’s economic and financial prospects, provided you know where to look. Several of the most critical drivers of success in the Australian real estate market are discussed in this article. Residential property market outlook In 2021, after relative stagnation, the residential real estate sector saw explosive expansion. As a result of interest rate increases and increasing prices, 2022 saw much-reduced volumes entering the

January 30, 2023 No Comments