Friday, August 18, 2017 Latest Real Estate News

Home Prices in UK Decline as Deadline for Property Tax Looms

The average values of homes in the UK fell by as much as 0.8 percent from March's figures. This translated to a decline in annual gain from 11 percent in March to just 7.8 percent in April. When measured on a quarterly basis, prices rose only by 1.5 percent.

  • Numbers of Vacant Residential Homes in Britain on the Decline

    Alongside the decline of vacant homes is the recovery in the number of owner occupied properties in the country. At its peak in 2002, about 69.5 percent of homes were owner occupied but fell to 62.8 percent in 2014 and now stands at 62.5 percent. Between 2002 and 2014, the net decline was about 6.7 percent overall.

  • Higher Mortgage Rates Keep Economy Afloat

    On a year on year basis, the current rate is lower compared to 3.68 percent at the same last year. The housing market remained steadfast while the rest of the economic factors had dipped in volume. For its part, residential construction spending, remodeling spending and other related transactions grew by 14.8 percent.

  • Scotland's Property Market Shows Falling Prices but Sales Are Rising

    With these changes, the average price of a home in Scotland costs £159,198. The Registers of Scotland reported that there were 19,802 properties that changed owners in the first quarter of 2016. This was the highest volume of transactions recorded for the same period since 2007 to 2008. The total sales value was pegged at £3.15 billion, a rise of 8.3 percent from 2015.

  • Sydney Housing Market Projected to Become Renter's Paradise

    Sydney would become a market where renting a home would become the norm as prices to purchase a home would become well-beyond the means of an average Sydney resident.

  • Foreign Funds for Real Estate Contracting Worldwide

    This comes amidst major criticism received by the agency for its lack of data about money entering the local real estate market from foreign countries. This is important to determine if such funding was the cause for the soaring home prices seen in major metropolitan markets such as Vancouver and Toronto.

  • US Home Sales Report: Cash Sales In Michigan Dominate Charts, New York Lowest

    CoreLogic reported that 36.4 percent of the overall US home sales in November 2015 were made via cash sales. The figure indicated a drop of 0.7 percent points from the previous 37.1 percent evaluation back in November 2014.

  • Vogue Editor Lauren Santo Domingo Lists Glamorous NYC Apartment for $7M

    Fashion icon and socialite Lauren Santo Domingo just listed her New York City residence for $7,250,000 and it is as exaggeratedly glamorous as anyone can imagine. The cofounder of online design retailer Moda Operandi and contributing editor at Vogue lived in the 3-bedroom, 3.5-bath pad in Manhattan's Flatiron district with her billionaire husband Andres Domingo and their two children.

  • Supermodel Gigi Hadid to Move Into LES? More PDAs With Zayn Malik Seen on IG

    Supermodel Gigi Hadid is likely to move into the old storage building of Ratner's Delicatessen where the cold cuts used to be kept. The building where the corned beef was stored is now a 12-storey glassed beauty where Hadid is rumored to have checked out a couple of bedrooms over the past week.

  • UPC Plans To Unveil Real Estate Approvals at Upcoming Cityscape

    UPC will reportedly launch a new online street design application. The council revealed a draft of new developments that had gone through detailed planning approval. Senior executives had announced detailed reports of key developments that will push for urban landscape improvement in Abu Dhabi Emirate.

  • Commercial Real Estate: Las Vegas CBRE Becomes World's Largest Investment Firm

    Las Vegas commercial real estate experts had been cautiously optimistic about the industry's performance in 2016. Michael Newman, managing director of the Las Vegas office of CBRE Group, had led the firm to become the world's largest in commercial real estate services and investment.

  • Envy Pervades Toronto Housing Market

    There has been a tradition in the Toronto housing market every spring season. According to a report from The Globe and Mail, many real agents see that buyers get 'enthusiastic' with listings of properties when they find out there have been inquiries made on them.

  • FIRB Report Reveals 75% Growth In Foreign Real Estate Investment

    Foreign real estate approvals have increased by 75 percent in 2015 for Australian real estate to a record high of $61 billion. This may lead to new developments, according to reports.

  • Ghost Cities Reveal China’s Real Estate Glut

    The real estate glut in China can be seen through its new ghost cities: Dongling, Nanguan, Kerqin, Saihan, Yijinhuoluoqi, Yuhong. They were discovered by a Peking University study which utilized Baidu data to discover cities with major housing developments that search engine's users were not visiting very often. The rationale was that if no one went to these places, then there was a possibility that they were vacant. These ghost towns were systematically built at the peak of China's urbanization boom.

  • Mortgage Applications Fall 4.3% for January

    Refinance volume had been moving upwards in the past few weeks and for the same period above, fell by 8 percent from the previous week. This seasonally adjusted rating also took into consideration the recent holiday.

  • California: National Parks, Wildlife Sanctuaries May Complete Bucket List; More Than Just Hollywood

    California is more than just Hollywood. Its real beauty lies beyond the picturesque city skyscrapers, monuments and landmarks, which are often found outside of the city limits. Its main attractions lie in the abundance of preserves, protected wildlife sanctuaries, and National Parks.

  • New Home Sales for January Well Below Initial Estimates

    The pronouncement was made by the US Commerce Department, in a statement made last Wednesday where the sales volume had fell to a seasonally adjusted volume of 494,000 homes. This translates to a 9.2 percent drop, which was nearly as much as the gains made for December 2015. For the said month of December, sales pace was pegged at 544,000 houses.

  • Indiabulls Promoter Opts To Pay for Real Estate Deals via Bahamas

    Indiabulls had been one of the country's biggest realty groups headed by Sameer Gehlaut, brother Nagendra and father Balwan Singh. The corporation had made headlines in June 2014 when it bought a 87444-sq ft property for GBP 155 million at Hanover Square in London.

  • BART Map Reveals San Francisco Real Estate Prices; Pittsburgh Point Stop Area Lowest Priced

    The BART map recently revealed that some San Francisco neighborhood rates for real estate exceeded $1,000 per square foot. Properties within a mile radius of the Embarcadero, Montgomery Street in the Bay Area Rapid Transit system were listed above that figure.

  • Dubai Real Estate: Stocks, Homebuyers See Positive Future

    The real estate industry in Dubai had made a comeback in the stock market as well as on the property market. The share prices of real estate corporations had been beating the wider Dubai financial market index, since it reached a low last Dec. 20.

  • London, New York Remain Most Preferred Demographic By UHNWIs

    London and New York remain as the leading sellers among UHNWIs. Wealth-X and Sothebys International, the leading real estate companies, revealed that 2015 was a huge year for the demographic of ultra-high net worth individuals.

  • Louisville ZIP Code 40205 Ranks 25th In US Hottest ZIP Codes List

    Louisville ZIP code 40205 had been named as one the US' hottest ZIP codes, including a few of the upscale neighborhoods like Highlands and the Seneca Gardens.

  • New York Real Estate Developers Are Richer With 11.48% More Transactions Compared To 2007

    New York real estate developers experienced their best year In 2007 when the real estate market was at its peak. Even though the bubble was about to burst, main players like Jerry Speyer went on to forfeit multi-billion dollar transactions, like Tishman Speyer's $5.4 billion Stuyvesant Town and Peter Cooper Village project. On the other hand, others took advantage of the drop.

  • Sareb Tries to Improve Spain Real Estate Sales

    Spain real estate sales entered its third consecutive year of losses last Thursday, coming further short of its prediction to make an initial profit in its second year. It had eaten deeper into its capital reserves which was set up to clean up the finance sector.

  • Lake Tahoe 2016 Real Estate Market: Homebuyers Excited To Own Property,But Inventory Almost Zero

    Lake Tahoe's real estate markets started off 2016 on a positive note. Almost every metric revealed positive increases and buyer demand remained strong while inventory was close to non-existent.

  • Egyptian Property Demand Boosts Further

    The Egypt property boom brought good news to Hisham Naguib and his sales team at the Cairo-based real-estate company Mountain View. With units already snapped up long before they were completed, last week's evaluation of the Egyptian compound boosted demand even further.