Residential property prices in capital cities in Australia increased by 1.6% in May and are up by 5% year on year, the latest home value index shows
The strong May numbers were largely the result of a surge in Sydney dwelling values which were up 3.1% over the month, according to the data from CoreLogic.
Prices also increased strongly in Canberra with month on month growth of 2.5% and were up 1.6% in Melbourne and 2.2% in Hobart. Perth was the only city to record a fall with prices down 2.7%.
Total investment volume into European commercial real estate in the first quarter of 2016 reached €36.8 billion, some 30% lower than the same period last year, the latest research shows.
However, several European countries analysed in the report from international real estate firm Savills are seeing increasing investment activity this year. Italy with growth of 54%, Sweden up 33%, Poland up 15%, the Benelux countries up 12% and Finland up 479%, have all performed well. The report says that the data shows that investor appetite is healthy for quality assets in markets with strong fundamentals.
In terms of sectors, industrial has gained ground, increasing by around 19% year on year. This was driven mainly by transactions in the logistics and distribution sector in the UK, Germany, Sweden, Spain and the Netherlands, which accounted for more than 80% of the total activity.
Apartment rent growth in the United States has slowed nationwide over the past year, with the higher end of the market most affected, new research shows.
After growing at a blistering pace for much of 2015, apartment rents across the county are growing at a slower pace thus far in 2016, according to the data from real estate firm Zillow.
Overall, apartment rents nationwide grew by 3.6% for the year ending in April 2016, almost 2% points slower than the 5.4% pace reported for the year ending in April 2015.
Overall rental prices in Australian capital cities were unchanged in May but rates fell everywhere apart from Melbourne and Hobart, the latest index shows.
Weekly rents were unchanged but year on year they were down 0.3% taking the average rate to $489 a week for houses and $469 a week for units, according to the data from the CoreLogic Rent Review report.
The firm’s research analyst Cameron Kusher expects that the weakness in the rental market will persist and on an annual basis rents will fall further over the coming months.
Although generally the housing market in Spain is perceived as recovering well there are signs of growth slowing, according to some of the latest figures to be published.
Residential prices grew by 1.3% in May and by 1.5% in the first five months of the year, but this is lower than the 1.9% registered up until the end of April.
The data from the latest index property appraisers, Tinsa, also shows that the average price of a property in Spain is still down 41.4% since 2007.
As the housing market continues to recover in the United States, home owners who are underwater on their mortgages are increasingly concentrated in the Rust Belt, according to the latest real estate report.
The data from the Negative Equity Report from real estate firm Zillow also shows that West Coast home owners are less likely to be in negative equity.
Nationally, 12.7% of home owners with a mortgage were in negative equity, meaning they owed more on their mortgage than their homes were worth. However, negative equity is down from a peak level of 31.4% in the first quarter of 2012.
Building consents for new dwellings are at a higher level in New Zealand than last year, up 12% in April compared with the same month in 2015.
In seasonally adjusted terms the number increased by 6.6% but growth has eased in recent months, according to the data from Statistics New Zealand.
However, the annual total is still at an 11 year high although most of the growth has been in Auckland and nearby regions, while Canterbury has decreased.
Lisbon has seen a surge in residential investment and development activity in the last two years, according to new research.
The city is emerging from economic difficulties in a nation which underwent an European Union and International Monetary Fund bailout in 2011 and various initiatives are helping to revive its property markets, says the report from international real estate firm Savills.
It points out that reform of Portugal’s residential tenancy laws, coupled with inward investor incentives, has spurred wide scale regeneration of the built environment, helping Lisbon to foster economic recovery faster than other parts of the country.
Residential sales increased by 2% month on month in Hong Kong in May, but transactions are down 11% year on year, the latest Land Registry figures show.
But with developers offering deeper discounts and more incentives, a number of primary projects received a positive market response, according to the latest market analysis from international real estate firm Knight Frank.
It points out that prices have dropped for seven consecutive months by a cumulative 11%, according to provisional figures from the Rating and Valuation Department. Mass residential prices led the decline, losing 11% in the period, while luxury residential prices dipped 8%.
A skills shortage is set to affect Ireland’s ability to address its housing crisis and infrastructure deficit, it is claimed.
In particular there is a shortfall of qualified graduates coming into the profession, according to the newly elected president of the Society of Chartered Surveyors Ireland (SCSI) Claire Solon, a chartered planning and development surveyor.
Research carried out by the Society earlier this year revealed that over 2,000 new job opportunities are expected to be created across the surveying profession in the next four years.
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