The Latest Breaking News from Housing Market

The luxury housing market is gearing up for National to lift the foreign buyer ban for properties over $2 million, but Christopher Luxon faces staunch opposition from NZ First. Jonathan Milne reports.

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

Goldman Sachs economist says it would take a ‘shock to the broader economy’ to make homebuying more affordable.

Recessions, inflation, an overpriced housing market, and student debt have all made the American Dream feel out of reach for younger generations.

Personal incomes would have to soar to make up for the higher home payments created by rising mortgage rates.

“Looking back at previous housing recessions, we think the 1980s are a better analogy for today's market than the 2008 housing crash,” BofA economists said.

Rolling coverage of the latest economic and financial news, as US non-farm payroll shows surge in hiring last month

Higher interest rates and potential recession fears drive major crypto market decline

Some prime London housing markets are benefitting from affluent buyers’ ability to buy with cash or low loan-to-value ratios, Savills said.

Despite turbulent market conditions and escalating interest rates, the long-term outlook for the housing market remains bright. Hence, it could be wise to scoop up the homebuilder stocks Five Point Holdings (FPH), Taylor Morrison Home Corporation (TMHC), and Sekisui House (SKHSY), trading under $50. Read more….

High interest rates blamed for year-on-year fall with price of average home £14,500 lower than September 2022.