National home sales fell 1.3% from June to July in Canada, the third month in a row that transactions have fallen, and fell by 2.9% year on year, the largest since 2013.
The data from the Canadian Real Estate Association (CREA) also shows that the national average sale price was up 9.9% in July year on year but when Greater Toronto and Greater Vancouver are excluded from the figure this dropped to 7%.
Sales activity was down from the previous month in slightly more than half of all markets in July, led by Greater Vancouver and the Fraser Valley. Transactions in these two markets peaked in February of this year, and have since then dropped by 21.5% and 28.8% respectively.
Residential property sales in Spain increased by almost 20% in the first half of this year suggesting that the real estate market recovery is well underway.
The latest figures from the General Council of Notaires shows that transactions were up by 19.6% in the first six months of 2016 to a total of 225,551 sales, and prices increased by 6.1% year on year.
The data reveals that new home sales are not boosting the recovery and indeed falling. Sales of non-new homes increased by 19.29% year on year, accounting for 68.1% of all the homes sold but new homes sales fell 13.6%.
Residential rents in Australia fell in all cities except for Melbourne and Hobart in July taking the combined capital city median weekly rent to $483 a week, the lowest since December 2015.
Combined capital city rental rates are $485 a week for houses and $467 a week for units, according to the latest rent index from real estate firm CoreLogic.
Overall the index fell by 0.3% over the month and is 0.6% lower than it was in July 2015 and it is anticipated that the rental market weakness will persist and that on an annual basis rents will continue to fall over the coming months.
Home starts rose at the fastest pace in a quarter of a century in the first half of 2016 as the country tries to build its way out of a housing shortage that threatens to hamper economic growth, data showed on Thursday.
Home starts rose to 33,950 in the January to June period, a 44 percent increase compared to the same period in 2015, preliminary figures from Statistics Sweden showed.
Chinese invested $16.1 billion in overseas real estate in the first half of the year, more than double the amount in the same period last year, real estate consultancy CBRE said on Thursday.
The United States remained the most popular global property market for Chinese investors, while hotels and offices were the most sought after types of real estate, CBRE said in a statement.
Residential property prices in Dubai fell again during the second half of 2016 and the slowdown is projected to continue.
Data from two sets of figures covering the second quarter show that the real estate market is slowing although sales are holding up. However, currency fluctuations are adversely affecting demand from foreign buyers.
The data from CBRE shows that it was the sixth consecutive quarter of declines with the average sales rate down 2% quarter on quarter and 12% year on year, with the most significant fall recorded in the upper segment of the market.
Rents on prime office assets across Europe grew by 1.5% quarter on quarter in the second quarter of 2016 compared to 0.7% in the previous quarter, the strongest increase in the past five years.
Rents in Europe outpaced the Americas and Asia Pacific regions with Stockholm recording the strongest growth in region of 9.4% followed by Berlin with growth of 6.3%.
The data from real estate firm JLL also shows that Paris saw growth of 3.4% as limited new supply and more robust take-up pushed up prime rents for the fourth consecutive quarter while in Southern Europe, the momentum in the market recovery has continued in Milan with rents up 2% and in Barcelona up 3.7% and Madrid up 0.9%.
Average housing rents in Abu Dhabi have fallen for the first time in three years, driven by thousands of job cuts and an increase in the cost of living.
The first signs of long expected falls in housing rents in Abu Dhabi started to appear in the second quarter, according to new reports from property brokers JLL and CBRE.
Residential property rents in Abu Dhabi have fallen for the first time in three years at a time when jobs are being cut and the cost of living is increasing.
A new tax for foreign property buyers is being introduced in British Columbia in Canada in an attempt to cool escalating house prices.
The 15% foreign buyer tax will come into effect on 02 August 2016 at a time when prices in the province’s capital city Vancouver are escalating.
Indeed, the latest global cities index from international real estate firm Knight Frank shows that prices in the city have increased by 17.3% in the mainstream market and by 26.3% in the prime market in the year to March 2016.
Affordability for home buyers in Australia eased back in second quarter of 2016 as price growth returned to the residential real estate market.
Overall affordability fell by 3.7% and was 2.1% less than the same quarter of 2015, according to the latest report from the Housing Industry Association, the voice of Australia’s residential building industry.
The capital city housing affordability index fell by 4.3% during the quarter, while the regional market index experienced a 1.9% improvement.
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