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The Latest Breaking News on Real Estate

UK house price falls spread; Wilko falls into administration; US inflation rises to 3.2% – as it happened

RICS house price balance drops again … as more mortgage holders fall into arrears and Wilko takes ‘difficult decision’ to enter administration

The Guardian - UK

City braces for insight into impact of rate hikes on economic growth

GDP data for June is due, from a month of rate hikes, hot weather and strikes

Evening Standard

Comment: ‘the brutal lessons from Balfron Tower’s unsold flats’

In an uncertain property market, the fact a developer has been unable to sell any flats (priced from £365,000 for a one-bed) in a Sixties tower block next to the A12 repeatedly voted Britain’s ugliest seems unsurprising. Especially since the concrete building’s construction made it tricky to secure a mortgage.

Evening Standard

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WeWork’s ‘substantial doubt’ about its future marks a stunning fall

NEW YORK: For the past four years, WeWork Inc has been trying to deliver a turnaround story — one in which the rowdy co-working startup transforms into a stable, profitable public company. It sloughed off Adam Neumann, its rambunctious co-founder and former chief executive officer, and replaced him with an…

The Times of India

Rents set to continue rising sharply despite cost-of-living squeeze, experts say

Fresh rise in costs would mark new high in 24-year records

The Independent UK

Ageing in a housing crisis: growing numbers of older Australians are facing a bleak future

The collision between an ageing population and a housing crisis has left more older people in Australia enduring housing insecurity and homelessness. Our research, released today, explores how the scale of these problems among older people has grown over the past decade.

The Conversation

Rents ‘likely to continue rising sharply despite cost-of-living squeeze’

Rental demand shows no signs of letting up and supply remains constrained, the Royal Institution of Chartered Surveyors said.

The Independent UK

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Housing development by Bloomingdale Trail aims to counter rising costs in Logan Square

The two buildings will bring 89 affordable housing units to an area that’s seen the greatest loss in affordable units. Construction is expected to finish by fall 2024.

Chicago Sun-Times

T.N. registration department gives detailed explanation on registration charges

Govt. clarifies flat registration charges not increased; CREDAI Chennai requested rollback; Govt. explains charges, hits out at developers for misusing 2020 instructions; Prevailing rates of 7% stamp duty & 2% registration fee for sale of UDS; 1% stamp duty & 1% registration fee for construction agreement; 2020 instructions misused by…

The Hindu

Brits are poorer than Americans because we spend more on worse homes, Social Market Foundation think tank says

The Social Market Foundation blamed “dysfunction in the UK housing market” for the difference

Evening Standard

Bellway cuts jobs in anticipation of UK property market slowdown

Prospect of higher mortgage rates and end of help to buy scheme leads housebuilder to shut two divisions

The Guardian - UK

In previous downturns the world turned to China as an engine of growth – this time that driver may not be there

What might Chinese deflation mean for interest rates, commodity prices and even EV exports outside China?

The Guardian - AU

Housebuilder Bellway looks to reduce headcount and warns legal completions set to fall ‘materially’

The update comes in the same week Bellway said it is consulting on the closure of its London partnerships arm

Evening Standard

Bank shares rally as Italy waters down windfall tax; UK heads towards five years of lost economic growth – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

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Evening Standard

‘My salary was my mortgage’: how buyers in the 80s and 90s survived 15% interest rates and negative equity

Londoners who survived the rates pain of the 1980s and 1990s faced different challenges to today’s buyers but their stories will resonate

Kiplinger

Zillow, Redfin Link to Connect Homebuyers With Homebuilders

Real estate rivals aim to increase visibility of new-construction listings.

Kiplinger

Mortgage Payments Spike Nearly 20% From a Year Ago

High interest rates and expensive home prices are hurting potential homebuyers, as mortgage payments jump from a year ago. Payments are up almost 20% from last year.

Kiplinger

Where Inflation is Causing Property Taxes to Increase the Most

Inflation is partially to blame for property taxes increasing the most in these places. Is your city on the list?

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news in one place.

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The Guardian - UK

The death of the nightclub: what Britain will lose when the dancing stops

More than a third of Britain’s nightclubs have closed since June 2020. Yet they boost mental health and artistic innovation - and bring in billions for the economy

The Independent UK

Bibby Stockholm: Home Office threatens asylum seekers with homelessness for refusing to move onto barge

Government accused of targeting asylum seekers who have been unable to secure legal representation, as more people move on board

The Hindu

Govt. acting like a real estate broker, says Eatala Rajender

Eatala Rajender questions govt. for "gloating" over high real estate prices, while forcing farmers & Dalits to give up lands for pittance. He criticizes CM KCR for lack of respect for democratic practices & constitutional norms, & for not discussing recent floods & losses.

Kiplinger

WFH Impact on Commercial Real Estate Market: Kiplinger Economic Forecasts

Commercial real estate continues to struggle. Office vacancies hit 18.9% in the second quarter of 2023.

Evening Standard

West London home available for just £160,000 — but it only has one window

Close to the Elizabeth Line, in a grand Victorian townhouse, this property is 80 per cent below the average price on its street but you’ll soon see why.

Evening Standard

Inside the one-bedroom almshouses in Lewisham transformed into ‘urban cottages’ for sale from £420k

Centuries-old charitable homes in south London have been reborn as ‘urban cottages’ available from £420,000

Evening Standard

London ‘can’t just be a city for the wealthy,’ says IWG founder Mark Dixon amid surge in demand for suburban office space

Dixon said he was racing to keep pace with demand for office space in suburban locations

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