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The Latest Breaking News on Real Estate

UK house prices increased by 0.9% month-on-month in October, says Nationwide

The uptick in house prices in October most likely reflects the fact that the supply of properties on the market is constrained, Nationwide said.

The Independent UK

House prices surprise with 0.9% increase in October says Nationwide

Housing market more resilient than feared despite the impact of 14 interest rate hikes

Evening Standard

Victorians lodge record 5,400 challenges to rent increases over past 12 months

Consumer Affairs Victoria says it redirected extra staff to manage 120% rise in requests for rent increase reviews

The Guardian - AU

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London on the brink: how the rental crisis is killing the capital – and how to fix it

With rents eating up to 85 per cent of their income, tenants facing being forced out of the capital are searching for solutions

Evening Standard

Afternoon Update: more interest rate rises likely; Victorian prison officers put spit hood on child; and WeWork to file for bankruptcy

The Reserve Bank looks increasingly likely to lift the cash rate as the IMF found inflation remained ‘sticky’

The Guardian - AU

Lake Macquarie in Top 5 places city buyers are moving to: report

'Affordability is a massive driving force for Sydney buyers.'

Newcastle Herald

Victorian domestic violence victims wait two years for public housing, data shows

Advocates fear blowout in wait time could force people to choose between homelessness or staying in an abusive relationship

The Guardian - AU

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Donald Trump’s sons Don Jr. and Eric set to testify at fraud trial that threatens family’s empire

Donald Trump’s eldest sons, who took over day-to-day management of his real estate empire when he became president, are scheduled to testify in the New York civil fraud case that threatens their company’s future

The Independent UK

Couple's debt spirals after cousin's house, land fraud

A Melbourne couple's debt has soared after their cousin defrauded them by offering a fake $388,000 house and land package, and pocketing the money for herself.

AAP

A California house is on sale for $1.5 million – and it comes with a built-in meth lab

‘If you were my buyer, I would tell you I’ll find you a different opportunity’

The Independent UK

Heritage-listed old Newcastle East Public School has $5.5m guide

The property includes plans for a three-bedroom residence upstairs.

Newcastle Herald

Two-year wait on housing for family violence survivors

Survivors of family violence are waiting two years for public housing in Victoria as sustained demand since the COVID-19 pandemic restricts supply.

AAP

Reserve Bank will have to raise interest rates again because inflation still too high, IMF says

Fund recommends further monetary tightening by RBA to ensure Australia’s price rises return to target range by 2025

The Guardian - AU

London, New York, Paris: which capital's property market is currently strongest?

The latest Prime Global Cities Index sees the UK and USA coming bottom of the alpha cities league

Evening Standard

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Chicago Sun-Times

City Council committee OKs ballot referendum to raise money to help homeless

A City Council committee voted to put a referendum on the March ballot asking voters to authorize the Council to quadruple the real estate transfer tax rate on sales over $1.5 million and more than double the rate on sales above $1 million. The rate would drop on sales below…

The Independent UK

California home with a meth lab inside on sale for $1.5m

‘If you were my buyer, I would tell you I’ll find you a different opportunity’

The Guardian - UK

English councils seek £100m to avert collapse of homelessness services

Cross-party group writes to chancellor saying councils face bankruptcy over temporary housing bills

The Conversation

Why converting office space into flats won’t solve the housing crisis

The UK government is proposing to further relax planning rules as part of its long-term plan for housing. The Department for Levelling Up, Housing and Communities aims to extend what are known as “permitted development rights” (PDR) in England. This would widen a previous relaxation of planning rules to encourage…

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news in one place.

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AAP

Housing rebound eyes new mark but rates threat looms

National home prices are about to hit a fresh peak in October, though the pace of growth is starting to slow.

StockNews.com

Airbnb (ABNB) Earnings Spotlight: Is the Travel Stock a Buy or Sell?

Airbnb (ABNB) is currently facing new regulations implemented for short-term rentals, which could impact the company’s growth. However, Street analysts expect stable growth in the last quarter. With the company set to release its third-quarter financial results on November 1, 2023, is the stock a buy today? Read on.

Evening Standard

Young Londoners ‘overwhelmingly want to build on green belt’ amid housing crisis

A poll of 1000 Londoners aged 25 to 45 found widespread support for radical measures such as reform of green-belt planning controls

The Guardian - AU

Australian property prices soar to record levels despite higher interest rates

New figures show significant growth in Brisbane, Adelaide and Perth with many suburbs seeing increases of more than 15% and Sydney up by 7.5%

Kiplinger

Rental Market Will Slow Through 2023: The Kiplinger Letter

Expected growth in the rental market is likely to remain slow for the rest of the year amid a slow housing market and cooling economy.

The Independent UK

17% annual slump in home sales in September – HMRC figures

Across the UK, an estimated 85,610 home sales took place in September 2023, which was also 1% lower than in August, HMRC said.

Chicago Sun-Times

Chicago should jump to get federal money that would help revamp LaSalle Street

LaSalle Street would be perfect for the new federal effort, announced last week, that encourages cities and states to turn empty office buildings — particularly ones near transit — into housing.

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