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The Latest Breaking News on Real Estate

Better month for home approvals but new building soft

The outlook for new home building is looking lacklustre as delays, high costs and interest rate hikes make it difficult to get new projects off the ground.

AAP

Donald Trump biopic: Sebastian Stan, Jeremy Strong and Maria Bakalova cast in The Apprentice

Stan, who recently played Tommy Lee in Pam & Tommy, will play the former US president in new film, joined by Strong as Roy Cohn and Bakalova as Ivana Trump

The Guardian - AU

Jim Chalmers welcomes OECD prediction RBA has reached interest rate peak

Federal treasurer downplays prospect of posting a second successive budget surplus

The Guardian - AU

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CHA’s $50 million plan to renovate scattered site housing is a step in the right direction

The CHA could start to fix its poor track record on providing enough affordable housing for Chicagoans in need. The CHA’s board should approve the funding.

Chicago Sun-Times

Sadiq Khan urges Government action to fix London's damp and mouldy flats

The mayor said councils still do not have enough powers to punish London's worst landlords

Evening Standard

Buying a Home? You Need a Six-Figure Income and a Big Down Payment

The median household income for home buyers hits a record $107,000; Down payments rise to more than two-decade highs as housing market crunch continues, NAR study shows.

Kiplinger

Gove’s leasehold reform bill does not ban leaseholds on new-build houses

Rush to write legislation means clauses to ban the leaseholds will be added via amendments

The Guardian - UK

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'Poor, poor planning': council wants sit down on major housing estate

There's concern future residents will pay the price.

Newcastle Herald

Homebuyer Demand Softens Despite Lower Rates

Homebuyers continue to hold out for lower rates and more listings, economist says.

Kiplinger

Economic data shows households are feeling the pinch. But will the RBA stop raising rates?

Inflation is set to drop back to under 3% growth by this time next year – if it weren’t for the stage-three tax cuts, that is

The Guardian - AU

See the Scottish streets named among the 50 best places to live in the UK

SIX Scottish streets have been praised in a new list looking at some of the best places to live in the UK.

The National (Scotland)

Austrian Property Tycoon's Signa To File For Insolvency

Rene Benko's real estate giant Signa -- whose vast portfolio includes New York's iconic Chrysler building -- on Wednesday announced it would initiate insolvency proceedings, marking the spectacular downfall of the self-made Austrian tycoon.

International Business Times

Homeowners told not to expect interest rate cut until 2025 as mortgage squeeze goes on

Leading economists at the OECD also stressed the UK would have the second slowest GDP growth of the G7 group of wealthy nations

Evening Standard

Despite strong economy, Texas cities grapple with excess office space

As remote and hybrid working become the new normal, major Texas cities are facing a decline in office tenants. It’s too soon to tell what that means for the vitality of downtowns.

The Texas Tribune

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The Independent UK

UK mortgage approvals increase after interest rates held at 5.25%

Bank of England figures showed that 47,400 mortgages were approved for house purchases in October.

The Independent UK

The world economy will slow next year because of inflation, high rates and war, OECD says

The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates

Evening Standard

Government reveals plan for 350 new rough sleeper homes in London

The announcement comes amid a record-high number of people recorded sleeping on the capital's streets

Newcastle Herald

Croudace Bay sale tops suburb record

The previous record sale for a house in Croudace Bay was $1.525m.

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news in one place.

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AAP

'Deplorable' scammer duped prospective renters

Police are appealing for help to find a man they allege falsely advertised short-stay accommodation for lease before taking money from prospective renters.

The Guardian - AU

Australia’s inflation rate eased to 4.9% in October, reducing likelihood of another rate rise

Consumer price index rose last month at an annual rate of 4.9%, which is lower than economists had forecast

The Conversation

What are young Australians most worried about? Finding affordable housing, they told us

Many of us were anxious and fearful during the COVID pandemic, but we’ve probably started to feel a lot better since lockdowns have stopped and life looks more like it did previously.

Newcastle Herald

'Lazy': jury's out on new state rules for council housing density caps

NSW Liberals called the new rules 'lazy' and 'ill-thought-through'.

Chicago Sun-Times

Chicago wrongly limited affordable housing with aldermanic prerogative, HUD says

Mayor Brandon Johnson’s administration is being asked to enter talks for an “informal resolution” of an almost five-year civil rights investigation by the U.S. Department of Housing and Urban Development

USAFacts

Where are home prices rising and falling in the US?

Camden, New Jersey, saw a 10.6% increase in home prices this past year, the biggest nationwide increase. El Paso, Texas (10.3%), and Syracuse, New York (9.6%), followed.

The Independent UK

Donald Trump will take the stand again at fraud trial

The former president is expected to return to the stand as the closing witness for the defence

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