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The Latest Breaking News on Real Estate

Afternoon Update: Treasury’s dire housing warning; German backpacker speaks after WA ordeal; and Cook Islands considers its future

Treasurer downplayed advice from department officials saying current policy settings would not deliver 1.2m new homes target

The Guardian - AU

Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – as it happened

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: “I think the path [for interest rates] is down”.

The Guardian - UK

How a wealth tax on Scotland's luxury properties and estates could work

SCOTLAND could raise hundreds of millions of pounds by introducing a wealth tax on properties, Common Weal’s head of policy has said ...

The National (Scotland)

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Home truths on housing target in leaked Treasury advice

Leaked advice on the government's new home target has failed to ruffle the treasurer, who says having an ambitious goal is better than building too few homes.

AAP

Sales of UK country houses rise as buyers tempted out by lower prices

Deals for homes worth more than £750,000 are up 7% in June over last year with more properties on market

The Guardian - UK

Champagne problem for NYC Whole Foods as Studio 54-founder’s venture causes headaches: suit

The lawsuit alleges that lines of people waiting for access to The Roof – an exclusive rooftop bar at Public Hotel – are blocking delivery access for the store

The Independent UK

Gen Z Doomed To Pay Rent Forever? Number Of First-Time Buyers Shrink As Average House Tops $422,000

Buying a starter home has rarely looked tougher. New National Association of Realtors data show just 1.14 million Americans bought their first house in 2024, barely a third of the 3.2 million who did so two decades ago and roughly half the historical norm.

Benzinga

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Why is the number of first-time US homebuyers at a generational low?

Young Americans are holding off on buying a home, with the average age in 2024 being a record high of 38

The Guardian - US

Trump's Dealmaker Name On The Line In High Stakes Tariff Talks

President Donald Trump set out early in his second term to fulfill a decades-long desire of reshaping US trade with the world, but the main outcomes so far have been discord and uncertainty.

International Business Times

Great job, good education, no home: is Australia’s bloated property market destroying the middle class?

A fresh cycle of interest rate cuts have propelled house prices in capital cities to peak levels – locking new buyers out of the market

The Guardian - AU

Court overturns ex-state attorney's mortgage fraud conviction but upholds perjury convictions

A federal appeals court has upheld the perjury convictions of former Baltimore State’s Attorney Marilyn Mosby, but the court overturned a mortgage fraud conviction and the resulting forfeiture of a Florida property

The Independent UK

Mortgage Rates Inch Up To 6.72% After 5 Weeks Of Decline, But Experts See Stability Ahead

The average long-term U.S. mortgage rate has risen, marking the end of a five-week downward trend. Despite this increase, experts predict that mortgage rates will remain relatively stable in the coming months.

Benzinga

Black people in England four times as likely to face homelessness, study finds

The Guardian - UK

Ken Paxton's Wife Files for Divorce on 'Biblical Grounds,' Cites 'Recent Discoveries' Behind Decision

Texas State Senator Angela Paxton has filed for divorce from Attorney General Ken Paxton after 38 years of marriage. She cited "biblical grounds" to back her decision.

Latin Times

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The National (Scotland)

Four ways Mairi McAllan can fix Scotland's housing crisis

Good evening! This week's edition of the In Common newsletter comes from Dr Craig Dalzell, head of policy and research at Common Weal.

Bored Panda

This Online Group Is Dedicated To ‘Mildly Interesting’ Stuff, And Here Are Their 49 Best Posts (New Pics)

With everything that's going around the internet, we have become hard to surprise. But one online community consistently amazes even those who think they've seen it all.

Evening Standard

Couple awarded £500,000 after luxury tower blocked light to their South Bank flat

Stephen and Jennifer Powell sued the developers of the £2 billion Bankside Yards scheme after the 17-storey Arbor tower slashed natural light to their Bankside Lofts apartment

Evening Standard

London housing crisis 'now an emergency' as fewer than 4,000 affordable homes started last year

Interactive map shows boroughs where barely any new homes are being built

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news in one place.

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The Guardian - UK

Labour housing plans could destroy 215,000 hectares of nature in England, analysis shows

Critics say change in biodiversity protections would harm environmental recovery and make scheme ineffective

The Independent UK

First-time buyers to get mortgage boost after key Bank of England rule change

An extra 36,000 mortgages at higher loan-to-income values could soon be within reach

The Guardian - AU

Court rejects developer’s bid to turn Sydney boarding house into luxury apartments

Lord mayor Clover Moore says city ‘should not simply be an enclave for the rich’ and hopes case sets precedent

AAP

Affordability 'tipping point' nudges renters into units

A slowdown in rental growth even with still-low vacancy rates suggests renters have maxed out on what they can afford.

Evening Standard

London landlord who tried to hike rent in mouldy 'foul-smelling' flat ordered to lower it by tribunal

Landlord’s attempted rent rise backfires as he’s taken to tribunal and ordered to lower monthly rent beyond original amount tenant paid

The Guardian - AU

Australian rental costs easing for some ‘maxed out’ tenants even as property prices edge up

While rents are at record highs in most state capital cities, the pace of increases in most city suburbs has slowed

The Independent UK

Rachel Reeves under pressure to save cash ISAs after building societies pen open letter to chancellor

The current £20,000 annual limit is expected to be cut but experts say it won’t prompt wider investment

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