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News

The London Resort planning application proceeds to examination phase

The ambitious London Resort project, envisioned as a world-class entertainment destination, celebrates a significant achievement as it successfully progresses through the rigorous Planning Inspectorate application process. This milestone marks a pivotal step forward in the realization of a project poised to transform the landscape of leisure and tourism in the UK. As the first entirely commercial Nationally Significant Infrastructure Project (NSIP) of its kind, the London Resort holds the promise of unleashing substantial economic benefits, with forecasts projecting a staggering £50 billion in gross economic activity (GVA) over its initial 25-year period. Moreover, the project is anticipated to catalyze the

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UK News

Renters Brace for Soaring Costs as Market Predicts Fourfold Rent Increase

In a startling development, renters across the United Kingdom are facing the grim prospect of rent costs skyrocketing by up to four times their current rates, unleashing a wave of anxiety and uncertainty among tenants. The Unprecedented Rise Recent analysis of the UK housing market reveals that rental prices could surge to unprecedented heights. This alarming prediction comes amid a multitude of factors, including a housing supply crisis, economic shifts, and evolving market dynamics. Economic Ripple Effects Economists and experts point to several key factors fueling this impending rental crisis: Housing Shortage: The UK is grappling with a severe housing

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UK News

London Property Ladder Entry for Just £215K – But There’s a Catch!

In an extraordinary turn of events, aspiring homeowners in London have been presented with a rare and tantalizing chance to step onto the highly competitive property ladder. The catch? You must be willing to live on a boat! Inspired by the recent success story of houseboats making waves in the London housing market, a visionary developer has unveiled an innovative concept designed to make homeownership more accessible in one of the world’s most expensive cities. This unique opportunity comes as the result of a daring venture by property developer Martin Reynolds, who, recognizing the soaring demand for affordable housing, has

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Australia News

Thousands of Rentals Vanish from Australia’s Property Market

Australia’s property market is currently grappling with a puzzling and concerning trend as an alarming number of rental properties disappear from the landscape. This phenomenon, which is sending shockwaves through the real estate sector, has raised questions about housing availability and affordability for thousands of Australians. Rental Properties in Decline According to recent reports and data analysis, there has been a noticeable decrease in available rental properties across the country. Property experts and analysts have expressed growing concerns about the reasons behind this unexpected trend. Factors Contributing to the Rental Shortage Several factors are believed to be contributing to the

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UK News

UK Housing Market Sees Largest Price Drop Since 2009, According to Halifax Report

London, September, 2023 – In a recent report released by Halifax, it has been revealed that the United Kingdom’s housing market experienced its most significant price decline since the financial crisis of 2009. The report, published on September 7, 2023, has sent ripples through the real estate industry and raised concerns about the health of the UK housing market. According to the Halifax House Price Index, UK house prices fell by a staggering 2.5% in August 2023, marking the largest monthly drop in over a decade. This unexpected and substantial decline has prompted experts and analysts to closely examine the

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South East Asia News

Thailand’s Real Estate Tycoon Takes the Helm as Prime Minister

In a surprising and unprecedented turn of events, Thailand has witnessed a historic shift in leadership as real estate mogul, Khun Siripong, steps into the role of Prime Minister. The news has sent shockwaves through the country’s political landscape and global economic observers alike. Bangkok, Thailand — The Land of Smiles has a new leader, and it’s not a politician; it’s a real estate magnate. Khun Siripong, a prominent figure in Thailand’s property market, has been sworn in as the country’s Prime Minister, marking a dramatic shift in the nation’s political dynamics. The announcement comes on the heels of mounting

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New Zealand News

NZ Opposition’s Ambitious Plan to Tax Foreign Property Buyers Hits Roadblocks

New Zealand’s political stage is ablaze with controversy as the opposition National party unveils a bold, albeit controversial, plan to impose taxes on foreign property buyers. The plan, aimed at generating NZ$3 billion ($A2.7 billion) in revenue over four years, is raising eyebrows and sparking heated debates. Opposition Leader Chris Luxon took center stage in Auckland to kickstart his party’s election campaign on a sunny Sunday afternoon, with the looming October 14 election casting a long shadow. However, Luxon and finance spokeswoman Nicola Willis stumbled over a critical element of their tax policy. Their proposal involves lifting the ban on

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UK News

London’s Risky Mortgages: Where Lenders Are Betting Big

The Epicenter of High-Risk Mortgages In the world of mortgage lending, London continues to shine as a hotspot for high-risk mortgages. Last year, UK lenders extended a staggering £30.6 billion in high-risk mortgages, defined as those exceeding 4.5 times the borrower’s earnings. Of this colossal sum, £6.8 billion was exclusively earmarked for London post codes . Notably, the only postcode outside London that made it to the Top 20 was Maidenhead (SL6). Wandsworth Leads the Pack Within London’s high-stakes mortgage landscape, the SW and SE postcodes have emerged as lenders’ favorites. Topping the charts was Wandsworth (SW18), where an astonishing

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New Zealand News

House Hunting in Montreal vs New Zealand: Finding Hope in Canada

After an unfruitful day of searching for a house in Montreal, where we encountered no new property listings and faced a rejected offer, my husband and I found ourselves contemplating the prospect of committing to a financial investment for the next 25 years. During this time, we reminisced about the housing market we had left behind in New Zealand. Following a fruitless day of house hunting in Montreal, which resulted in no new property listings and a rejected offer, my husband and I were left contemplating the daunting prospect of committing to a 25-year financial investment. Then, we began reminiscing

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Australia News

Australia Ranked 2nd Highest in Housing Market Risk, IMF Report Shows

The International Monetary Fund (IMF) has identified five distinct metrics for assessing housing market risk. The article provides an overview of these metrics and examines current information that may contribute to housing market risks in Australia. The article questions whether the Australian housing market is in danger and whether people should be concerned about it. According to the RBA’s report from June of last year, Australian housing debt has reached record highs, accounting for 145.4% of the nation’s total disposable household income, or around $2 trillion. Although credit growth has slowed since then, the ratio remains high as of the

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