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The Latest Breaking News on Real Estate

Mortgage approvals plummet 20 per cent in UK amid soaring interest rates

THE number of mortgage approvals plummeted by more than a fifth in July compared to the same month last year as soaring interest rates take their…

The National (Scotland)

Australia’s rental crisis forcing parents to raise children in caravans and sharehouses, inquiry hears

Senate inquiry told tax concessions for property investors making housing crisis worse and locking young people out of home ownership

The Guardian - AU

Melbourne city moves towards limiting short-stay rentals such as Airbnb

City of Melbourne council approved in-principle regulations on short-stay rental accommodation on Tuesday night, with a view to combating the housing crisis

The Guardian - AU

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Rent-free office incentives get less sweet in parts of central London

Incentives to tempt businesses to offices have got less generous for a number of new London developments as employers compete for modern space, research has found.

Evening Standard

Rudy Giuliani’s Manhattan apartment up for sale for $6.5m

Trump ally and erstwhile ‘America’s mayor’ is selling his Upper East Side home amid a cash crunch due to ongoing legal problems

The Guardian - US

Home repossession fears over ‘Westminster’s mortgage crisis’

THE number of homes being repossessed has risen sharply across Scotland since the pandemic, triggering concerns over the impact of…

The National (Scotland)

Tenants Leave Property Full Of Trash And Feces, Costing$30K In Repairs

I am completely speechless and shocked, the landlord said. The post Tenants leave property full of trash and feces, costing$30K

Zenger

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Australia’s inflation rate eased to 4.9% in July, down from 5.4% in June

Larger than expected fall reduces likelihood Reserve Bank of Australia will raise interest rates again

The Guardian - AU

UK home sales in 2023 will be lowest in a decade, says Zoopla

Interest rate rises on mortgages are weakening demand, property website says

The Guardian - UK

Number of house sales this year ‘on track to be lowest since 2012’

The number of house sales with a mortgage is expected to be nearly a third lower this year compared with 2022, Zoopla said.

The Independent UK

Mortgage costs dampen affordability despite falling London house prices and rising wages

London’s price-to-earnings ratio is in single digits for the first time in 11 years

Evening Standard

A San Francisco official organized a ‘doom loop’ tour. It flopped in spectacular fashion

City commissioner who called the event a ‘satire’ has since cancelled the tour and resigned from his position

The Guardian - US

Top 10 Most In-Demand Housing Markets in the U.S.

New housing market data reveals the ten zip codes where in-demand homes spend the fewest days on the market.

Kiplinger

Controversial housing development edges closer to approval

Sonia Hornery says shes has concerns about a lack of infrastructure.

Newcastle Herald

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The Guardian - UK

Repeal of water pollution rules won’t solve England’s housing crisis, say developers

Housebuilders welcome move but fear amending levelling up bill will cause months of delays

Evening Standard

Selling Super Houses: Channel 4’s new property show sees wannabe agents compete to sell trophy homes

Property mogul Paul ‘PK’ Kemsley plays the Alan Sugar role in this new format, which throws eight hopefuls into the heart of London’s prime market

Kiplinger

Best Cities for First-Time Homebuyers

Here are the best cities for first-time homebuyers, according to a new study from Smart Asset. Texas nabs 5 spots.

The Guardian - UK

From socialism to private gyms: co-living has gone mainstream, and it feels like a mixed blessing

A series of new developments are dragging communalism out of the fringes. But can you really put a price on community, asks author Mim Skinner

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The Guardian - UK

Homeless families evicted as landlords quit London emergency housing sector

London councils report 120% year-on-year rise in requests for return of properties used as temporary homes

The Guardian - UK

Rishi Sunak used helicopter for trip from London to Norwich

PM has gained reputation for fondness for using helicopters to travel short distances

The Independent UK

Housing shortages for university students will ‘worsen’ in some cities – charity

School leavers across the UK are preparing to start university next month after receiving their exam results.

The Guardian - UK

‘There’s nowhere to go’: a family made homeless in the UK housing crisis

Colin and Gemma Booth and their children are among more than 100,000 families in temporary accommodation in England

Evening Standard

OPINION - Labour shouldn’t rule out wealth taxes: it could regret it

Don’t ever open your mouth till you know what the shot is”: such is the timeless wisdom of real estate salesman Ricky Roma in David Mamet’s Glengarry Glen Ross, and it is a maxim that politicians always do well to heed. Until now, Rachel Reeves, the shadow chancellor, has observed…

The Independent UK

Record 88% of homeowner remortgage deals in April were with existing lender

Affordability constraints have affected some external remortgaging activity, with internal product transfers being more popular, UK Finance said.

The Guardian - UK

Evergrande shares plunge further amid China economy fears

Property developer’s value fell by more than $2bn as stock resumed trading after 17-month suspension

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