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The Latest Breaking News on Real Estate

Labour’s supposedly bold ‘new towns’ idea has been tried before. And it failed

These vast sums should be spent improving our ‘second-tier’ cities – not on costly, carbon-guzzling developments in the rural south, says Guardian columnist Simon Jenkins

The Guardian - UK

Full force of interest rate hikes is yet to be felt, says Bank of England official

Swati Dhingra says economy has flatlined and millions of mostly young and poorer people could be affected if rates stay high

The Guardian - UK

“Gloomy outlook” of London housing market to last until 2024 due to mortgage affordability and cost of living

Buyer demand, sales and house prices continue to decline as mortgage affordability continues to affect the market, surveyors said.

Evening Standard

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Former Tory London mayoral hopeful Natalie Campbell launches independent bid for City Hall

The centrist challenger in 2024’s election will build her manifesto by surveying Londoners

Evening Standard

What is a Yimby? Keir Starmer claims label for himself in housing interview

The Labour leader says he is a proud ‘house-building YIMBY’ — but what does it mean?

Evening Standard

Ex-councillor accused of ICAC lies about Daryl Maguire

A former councillor has joined disgraced ex-MP Daryl Maguire in being accused of lying during an investigation into corruption of a southwest Sydney council.

AAP

Greens say Melbourne housing towers should be fixed amid claims that would be ‘putting lipstick on a pig’

Homes Victoria says maintaining the 44 towers would cost $2.3bn over 20 years but Greens say some estates are already being refurbished

The Guardian - AU

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Newsom signs laws to fast-track housing on churches’ lands, streamline housing permitting process

California Gov. Gavin Newsom has signed a law to fast-track low-income housing on surplus land owned by nonprofit colleges and religious institutions

The Independent UK

Mortgage affordability ‘hitting housing market but 12-month outlook more stable’

Buyer demand, sales and house prices continue to decline as mortgage affordability continues to affect the market, surveyors said.

The Independent UK

The Guardian view on Labour’s housing plan: a promising start to addressing an age-old problem

Editorial: Sir Keir Starmer’s talk of ‘bulldozing’ obstacles to development is a refreshing contrast to Rishi Sunak’s cowardly retreat from the challenge

The Guardian - UK

Housing developers could override local objections under Labour, says Starmer

Party leader declares himself a ‘yimby’ in his drive to get an extra 300,000 homes built each year

The Guardian - UK

Tax break for landlords will ultimately benefit renters, says Varadkar

The Taoiseach has defended the 14 billion euro budget package unveiled by his Government on Tuesday.

The Independent UK

London landlords eye shift into commercial property from volatile residential market

A lower turnover of tenants and longer leases for shops and offices is drawing interest from investors

Evening Standard

House market slowdown sparks profit warnings from Travis Perkins and Forterra

Building product firms’ shares take a hit from a weak summer for renovations and house moves

Evening Standard

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AAP

Borrowers cutting back with more pain to come: RBA

Mortgage payments are at a record share of household disposable income, says a senior Reserve Bank official, and are expected to rise even further.

The Independent UK

Map reveals best areas to move for first time buyers

Youngsters are willing to move across the country to be able to afford a home

Chicago Sun-Times

Horoscope for Wednesday, Oct. 11, 2023

There are no restrictions to shopping or important decisions. The moon is in Virgo.

AAP

Funding for more Queensland social housing amid crisis

The Queensland government will build another 600 social homes across the state thanks to a federal funding injection of almost $400 million.

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The Guardian - AU

Banks have only passed on three-quarters of interest rate rises to depositors, RBA says

Increase compares favourably with New Zealand and the US, Reserve Bank assistant governor says

The Independent UK

‘Up-and-coming’ locations for first-time buyers revealed

Halifax based its analysis on house prices, as well as factors that first-time buyers indicated are desirable, such as links to cities and schools.

The Guardian - UK

Labour wants to build 1.5m homes – but how green will they be?

Analysis: Keir Starmer promised a huge expansion of affordable housing, but made no mention of ‘climate’, ‘low carbon’ or ‘net zero’

The Independent UK

Labour plans next wave of new towns in pledge to build 1.5 million homes

Sir Keir Starmer said the plans would not involve ‘tearing up the green belt’.

The Independent UK

What is a greyfield site? Keir Starmer’s plan to overhaul housebuilding in UK

The plans will see low-quality greenbelt areas be released to develop affordable housing

The Hindu

Here are the big stories from Tamil Nadu today

ED invokes PMLA to seize 15 properties of ex-Union Minister A. Raja. Real estate firm gave kickback to Raja in exchange for environmental clearance. ED searches sand quarries in TN for illegal sand mining. TN govt. announces amnesty scheme for traders with dues below ₹50,000. CM Stalin announces release of…

The Guardian - UK

Bank of England flags concerns over longer mortgages and rise in credit card use

UK central bank’s financial policy committee says borrowing trends could lead to debt troubles in near future and longer term

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