Real Estate

Total mortgage applications fell 23% in the US, data

Total mortgage applications fell 23% in the US, dataAccording to the latest figures released, the total mortgage applications filed in the US during the previous week recorded a fall of 23 per cent compared to the previous week as the interest rates continued to climb.

Social housing rent arrears rise to £2m in April

According to the latest data available, the housing rent arrears in Scotland rose to £2 million during the month of April following changes to housing benefits.

Most of the local authorities in Scotland with its own housing assets recorded a rise in arrears, showed a survey by council umbrella body Cosla. The survey was conducted about 100 days after reforms relating to the under-occupancy charges were introduced to the housing benefits. The under-occupancy charges was imposed from April 1 as a part of the British government's welfare programme.

Property prices rise 3.7% in June quarter

Property prices rise 3.7% in June quarterAccording to the latest data available, the property prices have risen by about 3.7 per cent during the three months till June, 2013 compared to the same quarter in the previous year.

The growth rate of the 3.7 per cent was highest since August 2010 when the prices were 4.6 per cent higher. Data showed that the prices have risen by about £9,000 in eight months due to increasing consumer confidence and the lack of housing supply in the market, according to the Halifax.

Higher mortgage rates to push buyers away from market

Higher mortgage rates to push buyers away from marketExperts have said that the higher mortgage rates in the US are pushing buyers away from the market in the short term bowers will be required to pay higher interest rates.

HIA expresses concerns over interest rates

HIA expresses concerns over interest ratesThe Housing Industry Association (HIA) in Australia has expressed concerns over the decision by the country's central bank to hold the interest rates for another month.

Mortgage rates rise to highest level in three decades

Mortgage rates rise to highest level in three decadesThe latest data showed that the mortgage rates in the US rose to its highest level in a period of three decades on concerns that the Federal Reserve will soon begin rolling back to stimulus package for the US economy.

Mortgage rate rises to 4.46%

Mortgage rate rises to 4.46%According to the latest data released, the average of a 30-year fixed home loan rose from 3.93 per cent to 4.46 per cent, recording its biggest increase in the Freddie Mac survey since 1987 due to concerns that the US Federal Reserve is set to roll back its stimulus package.

About 323,684 British homes cost more than £1million

About 323,684 British homes cost more than £1millionAccording to the latest estimates, about 323,684 homes across the UK now have a selling price of more than £1million.

The data showed that the number of such property millionaires are rose by about 78,000during the previous one year. Zoopla. co. uk said that that data shows that the number increased by one third from the previous year. The website also said that Kensington Palace Gardens in London is the country's most expensive street with an average price tag of £36million for homes.

Dubai's Damac Properties woos Indian investors

Damac-PropertiesNew Delhi, June 27 : Dubai-based Damac Properties will hold a two-day "road-show" in India beginning Friday to attract Indian investors to its latest luxury projects, the company's managing director Ziad El Chaar said.

"Indians are among the biggest investors in Dubai property markets. Our focus is to attract more and more Indians," Chaar told IANS in a telephonic interview from Dubai.

He said the company will showcase its latest luxury projects through road shows in Delhi and Mumbai. The road shows will take place June 28-29.

RBI relaxes ECB norms for affordable housing developers

RBI relaxes ECB norms for affordable housing developersThe Reserve Bank of India (RBI) on Monday relaxed external commercial borrowing (ECB) norms for raising foreign currency loans for low-cost affordable housing projects.

The central bank relaxed the minimum experience norm by two years. It means residential project developers with just three years of experience are now eligible to raise loans through the ECB route. Previously, they had to have a minimum five-year experience.

Spain to sell 15,000 state-owned buildings

Mariano-RajoyMadrid, June 21 : Spain will put up for sale next Friday 15,000 buildings of a total of 55,000 state-owned buildings in order to save money, media reports said.

The Spanish government has been studying for a year the situation of these 55,000 state-owned buildings in order to see the possibilities of making a better use of them and save money to increase Spain's central administration accounts, reported Xinhua.

Resale of home rise 4 per cent in the US

Resale of home rise 4 per cent in the USAccording to the latest figures released, the total sales of previously-owned stores rose 4 per cent during the month of May to cross five million, which is its highest level in three and a half years.

The growth indicates that the housing market in the US is improving in recent times. The National Association of Realtors said that the total home re-sales rose 4.2 per cent in May to seasonally adjusted annual rate of 5.18 million, compared to 4.97 million recorded during the month of April. The home re-sales have remained below 5.5 million but have risen by about 13 per cent during the previous 12 months.

Berkeley Group reports 26% rise in pre-tax profits

Berkeley Group reports 26% rise in pre-tax profitsBerkeley Group has said that it has recorded a 26 per cent increase in pre-tax profits to £271 million during the year till 30 April, 2013 compared to the previous year mainly due to a recovery in the housing market in London and the south of England.

The company had recorded a pre-tax profit of £215 million during the previous year.

Berkeley Group said that its revenue rose 32 per cent to £1.38 billion, compared to £1.04 billion in 2011. Its operating profit rose 42 per cent to £280 million and an operating margin of 20 per cent.

House prices rise 21% in Rotorua, data

House prices rise 21% in Rotorua, dataAccording to the latest data released, the median housing prices in Rotorua rose by about $50,000 during the previous 12 months.

The Real Estate Institute (REINZ)said that the median price for houses was $277,000 in Rotorua in May compared to $229,000 recorde during the smae month of the previous year. Rotorua REINZ spokesman Ian McDowell pointed out that the median price for the previous month was highest since August 2010.

Home seizures increased in May, report

Home seizures increased in May, reportAccording to a new report from RealtyTrac, the number of house seizures in the United States during the month of May as an increased number of people entered the foreclosure process in the country.

UK’s housing prices rose at fastest pace in three years

UK’s housing prices rose at fastest pace in three yearsAccording to a new survey, the housing prices in the UK have risen by its fastest pace in three years as government policies to stabilise the sector attracted new buyers to the market.

The new survey from the Royal Institution of Chartered Surveyors showed that the seasonally adjusted house price balance was recorded at +5 during the month of May indicating that the more members recorded a rise in price than those who recorded a fall in the housing prices in the country.

Real estate bill to boost demand for property, says Crisil

Real estate bill to boost demand for property, says CrisilGlobal rating agency, Crisil has said today that the implementation of the new estate regulatory rules, which were recently cleared by the union cabinet, will lead of higher demand for residential property in the country and increase growth in the sector.

Godrej Properties launches housing project in Kolkata

Godrej-propertiesKolkata, June 6 : Godrej Group real estate development arm Godrej Properties Thursday launched the fifth phase of its residential project here.

"We are happy to launch phase V of Godrej Prakriti... We have already started handing over the first phase of the project," Godrej Properties managing director and CEO Pirojsha Godrej said.

The new tower, standing 19 floors tall, would offer three BHK modern apartments measuring between 1,100 sq ft and 1,400 sq ft, the company said in a filing to the Bombay Stock Exchange.

New real estate bill to help curb malpractices: Maken

Ajay-MakenNew Delhi, June 5 : The real estate regulation bill approved by the union cabinet will promote fair-play in real estate transactions and introduce penal provisions for developers who do not stick to norms, Housing and Urban Poverty Alleviation Minister Ajay Maken said Wednesday.

The bill, cleared by the cabinet on Tuesday, would be introduced in the monsoon session of parliament (July-August), Maken said, adding: "The bill aims at protecting the interests of consumers."

Real estate bill: Some like it, others say penalties too harsh

Real-estate-billNew Delhi, June 5 : The government's decision to approve the Real Estate (Regulation and Development) Bill has evoked mixed response from the industry.

While some realtors applauded the new legislation saying it would bring in more transparency into the sector, others criticised it for being too harsh in prescribing stiff penalties that can be imposed on developers.

"It is a welcome step. We had been waiting for the same since long as it would bring buyers' ease along with transparency and respect to the sector," said Navin M. Raheja, president, National Real Estate Development Council (NAREDCO).




Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate


Syndicate content