Real Estate

China's home price growth decelerates

China's home price growth deceleratesBeijing, April 18 - Home prices in major Chinese cities grew at a slower pace in March, with fewer cities reporting month-on-month price gains, authorities said Friday.

The National Bureau of Statistics (NBS) said out of a statistical pool of 70 major Chinese cities, 56 saw month-on-month gains in new home prices last month, down from 57 in February, reported Xinhua.

For existing homes, prices increased in 42 cities in March, also down from 46 in the previous month, the data showed.

NZ records fall in house sales

NZ records fall in house salesAccording to the latest figures released, the total housing sale has fellen in New Zealand market.

The data also showed that the median price of homes are increasing in the country. The Real Estate Institute of New Zealand said that the sale of houses in the Western Bay fell during the month of March.

Figures showed that Tauranga housing sales fell 21 per cent to 127 from 163 a year ago. However, the median price increased 11.8 per cent to $388,000 from $347,000. The sales in Mount Maunganui-Papamoa fell 17.9 per cent from 123 to 101 and the median prices increased 5.9 per cent to $450,000 from $425,000.

New Zealand housing prices fall in March

New Zealand housing prices fall in MarchAccording to the latest figures released, the housing prices in New Zealand have continued to fall in the month of March as the buyers are discouraged due to restrictions on lending and rising interest rates.

The housing prices have been falling in the country since previous five straight months as the demand is affected by economic factors. The government's Quotable Value's (QV) said that the demand for housing has been affected by increasing interest rates and the limitations on bank lending in the country.

Cable says houses are unfordable to middle earners

Cable says houses are unfordable to middle earnersVince Cable, UK's Business Secretary has warned that the housing prices are high in the UK and houses are unaffordable for the middle earners in the country.

Cable has said that ordinary families will not be able to buy the houses in the country as the market faces risk of a housing market 'bubble'.

Canadian mortgage rates fall under 3%

Canadian mortgage rates fall under 3%According to the latest figures released, the Canadian mortgage rates have fallen below the rate of 3 per cent. Bank of Montreal lowered its five-year fixed-rate mortgage to 2.99 per cent from 3.49 per cent.

The lower retail rates will help buyers in the country but will increase difficulties for finance officials as the housing market begins its spring sale season. The Bank of Montreal has announced its decision to lower the interest rates but market experts said that it might be enough to revive the sluggish housing market as other factors including provincial elections in Quebec might affect the market.

Godrej announces JV to develop residential project in Pune

Godrej announces JV to develop residential project in Pune Godrej Properties Ltd., the real estate development division of the Godrej Group, has signed a deal with Oxford Group and Ekta World to develop a residential project in Mundhwa, Pune.

The Mumbai-based real estate developer said that the joint venture (JV) residential project, spread over 43 acres, will offer premium one, two, three and four BHK apartments.

Two heritage houses moved to new location in Vancouver

Two heritage houses moved to new location in VancouverTwo heritage houses known as `The Dorothies' have been successfully transferred from one location to another in the city of Vancouver in Canada.

Osborne expands Help to Buy scheme until 2020

George OsborneUK's Chancellor George Osborne has said that it is planning to expand the Government's Help to Buy scheme, which is aiming to help revive the housing market, until the year 2020.

Osborne said in his pre-Budget announcement that the government is planning to invest another £6 billion in the equity loan part of the scheme in order to help 120,000 more households to buy houses in the UK. He announced a four-year extension of the equity loans scheme in his Budget speech, boosting the housing market.

Growth slows in Scotland's housing market

Growth slows in Scotland's housing marketAccording to a new survey, Scotland's housing market has slowed to its lowest level in a year as investors wait for the decision of the referendum in independence.

The Royal Institution of Chartered Surveyors (Rics) has said that the growth in the number of people looking to buy was the slowest rate since April in the previous year. Data has shown that lower supply of houses resulted in an increase in the housing prices in the UK.

US SBE reveals plans to dismantle Fannie Mae and Freddie Mac

US SBE reveals plans to dismantle Fannie Mae and Freddie MacThe U. S. Senate Banking Committee has announced its plans to dismantle Fannie Mae and Freddie Mac after a long time, resulting in a 10 per cent fall in the value of the shares of the mortgage companies.

Australian home loan approvals stable in January, data

Australian home loan approvals stable in January, dataAccording to the latest figures releases, the total number of home loan approvals in Australia has remained at the same level during the month of January.

The data released by the Australian Bureau of Statistics (ABS) showed that there were 51,054 home loan approvals in January compared to 51,045 approvals during the month of December. Analysts were expecting an increase of about 0.8 per cent in the total number of home loan approvals during the month of January.

Tata Housing to invest Rs.1,200 crore

Tata-HousingNew Delhi, March 3 : Tata Housing Development Company, a unit of Tata Group, Monday said it will invest Rs. 1,200 crore in 12 projects in eight major cities in India by 2018.

Addressing a media conference here, managing director and chief executive officer of Tata Housing Brotin Banerjee said the company targets a market share of 25 percent by 2018 in senior living segment.

Tata Housing unveiled its expansion plans for the senior living brand “Riva Residences”.

Property prices rising across the UK, report

Property prices rising across the UK, reportAccording to the latest report released, the property prices are rising across the UK, even in areas beyond London and the south-east.

Anew report by data from property researchers Hometrack showed that prices up in more than half the country for the first time in a decade. The prices rose 51 per cent of postcodes in February inEngland and Wales. The average prices rose 0.7 per cent, which is the biggest monthly rise since April 2007.

Property and Real Estate emerge as most popular 2013 jobs

Property and Real Estate emerge as most popular 2013 jobsMelbourne, February 20 : Real estate has blossomed as one of the most popular jobs of 2013 in Australia.

Property and Real Estate have emerged as the fastest-growing job category of 2013 on the CareerOne, SEEK and MyCareer websites and has fuelled an unprecedented growth in jobs, the Daily Telegraph reported.

According to the county's top three job searching websites, the real estate industry saw a 25 percent increase in jobs posted online between 2012 and December last year.

Lodha buys second prime property in London for Rs 930 crore

LodhaIntensifying its focus on London, Indian developer Lodha Group bought a second prime property in the city for £90 million (around Rs 920 crore) from West End of London Property Unit Trust.

Mumbai-based Lodha Group said it bought a property called New Court, which is situated on Carey Street, next to the London School of Economics & Political Science and the Royal Courts of Justice.

The total land area is 1.15 acres with a sale-able area of around two lakh square feet.

Jordan lawmakers for severing peace treaty with Israel

Jordan lawmakers for severing peace treaty with IsraelAmman, Feb 17 - Jordan's Lower House Sunday called for revoking the nation's peace treaty with Israel as the Israeli Knesset sought to end Jordan's role in the protection of the holy sites in Jerusalem.

The 150-member house called on the Jordanian government to submit a law to revoke the peace treaty, which Jordan and Israeli signed in 1994, Xinhua quoted a statement issued by the house's Palestine Committee as saying.

DLF suffers nearly 50% fall in quarterly net profit

dlfHit hard by a one-off loss, Indian real estate developer DLF Ltd on Friday reported a decline of 49 per cent in its quarterly net profit.

The country's biggest real estate developer said in a statement that its consolidated net profit slipped to Rs 1.45 billion in the October-December quarter of current fiscal, from Rs 2.85 billion in the corresponding quarter of the previous fiscal.

The third quarter results included an exceptional charge of Rs 4.11 billion over a 'foreseeable loss' on account of a settlement of a dispute with the Delhi Development Authority (DDA) over a real estate project.

Average couples would earn £44,000 extra if wage were higher

housing pricesAccording to a new report, if the wages had risen at the same page as the housing prices in the UK, an average couple would be earning £44,000 a year more today.

The report states that if the salaries had risen as fast as house prices since 1997, people would be earning tens of thousands of pounds more each year. It showed that in most expensive region, house price-earnings gap reached the £100,000 barrier. The average annual household's earnings would have to be £158,000 higher than actual today in Westminster in London if wages rose along with the housing prices.

Shaftesbury records strong demand in London

ShaftesburyShaftesbury PLC, a leading property company focused on London's Soho and other West End districts, has said that the business has remained strong in the market.

The company said that the business was strong for its tenants even after weather affected market conditions. It recorded strong demand across properties in Carnaby Street, Chinatown, Charlotte Street and other West End "villages" during the four months till 6 February, 2014.

Morgan Stanley agrees to pay $1.25 billion to resolve mortgage lawsuit

Morgan Stanley agrees to pay $1.25 billion to resolve mortgage lawsuitUS-based banking giant Morgan Stanley confirmed on Tuesday that it would pay $1.25 billion to the U. S. regulator to settle the charges that it misled investors on the sale of mortgage-backed securities prior to the housing bust.

In September 2011, the U. S. Federal Housing Finance Agency (FHFA), the conservator of Freddie Mac and Fannie Mae, accused Morgan Stanley of making untrue statements and material omissions in the sale of nearly $11-billion worth of mortgage securities.

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