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Following the housing market’s best year in nearly a decade, existing home sales in the United States are forecasted to expand in 2016 at a more moderate pace.

Pent-up buyer demand is expected to combat affordability pressures and meagre economic growth, according to the latest monthly report from the National Association of Realtors.

Indeed, Lawrence Yun, NAR chief economist believes that demand, sustained job growth and improving inventory conditions are the main reasons for an expected gain from 2015 in new and existing home sales.

Despite his forecasted increase in sales, Yun cites rising mortgage rates, home prices still outpacing wages and shaky global economic conditions as headwinds that will likely hold back a stronger pace of sales.


Property buyers in the UK are taking longer to make up their mind about a home with many taking a second or even a third viewing before making an offer, new research has found.

On average it now takes 53 minutes of viewing a property, up from 38 minutes a year ago, according to the research from online estate agent eMoov. Indeed, just 6% make an offer after the first viewing.

The majority of buyers, 53%, return for a second viewing, with a further 41% feeling the need to view a property more than twice. Buyers in London are more likely to seek a third viewing.

The research also suggests that buyers undertake a considerable amount of research before they view a property. Some 67% read the full property description before arranging to view and 59% look at other...

Residential property landlords in England are being reminded that there is less than a month to go before right to rent rules come into force regarding checking the background of new tenants.

The new law means that from 01 February landlords with property in England will have to carry out checks to ensure potential tenants have the right to rent property in the UK.

Already they can start to carry out right to rent checks as these can be done from 28 days before the start of a tenancy agreement.

‘Many responsible landlords have already been undertaking similar checks and these are straightforward and do not require any specialist knowledge,’ said Immigration Minister James Brokenshire.

He explained that the Right to Rent rule is part of the g...

A lack of suitable homes for downsizing is preventing a large number of home owners in the UK from moving to a smaller property, it is claimed.

Some 33% of home owners aged 55 and over are considering or expect to consider downsizing, but a lack of suitable options is preventing them from moving, a new report says.

A new YouGov survey for the report found 29% who have already downsized or are considering or expecting to consider downsizing did or expect to release in excess of £100,000 in equity, with the most prevalent way of using the money being to put it in a savings account.

The report, Generation Stuck: Exploring the Reality of Downsizing in Later Life, has been written by the International Longevity Centre UK and commissioned by retirement hous...

Bristol is the most searched city for property hunters in the UK, followed by Cambridge, according to new research from online property portal Rightmove.

Margate has seen the highest asking price hikes and Welwyn Garden City is where properties have sold the quickest with March the busiest month of the year in terms of browsing for real estate.

There were 110 million visits from home hunters each month to Rightmove in 2015, as demand for property hit an all-time high and supply issues in many parts of the country remained.

Whilst the busiest month was March, the busiest day for browsing property was actually later in the year on Monday 10 August when home hunters browsed over 58.6 million pages of property, a common time of year for people to try and find a n...

Average house prices in England and Wales increased by 6.6% year on year to an average of £292,077, according to the latest index figures to be published.

This means that the average house prices has increased by £17,963 since December 2014 but property values in central London fell by 8.7% on average during 2015, dragged down by higher stamp duty, the index report from Your Move and Reeds Rains shows.

The annual price growth figures falls to 4.7% of London and the South East are excluded from the calculation and month on month prices increased by 0.6%.

Outside of these top five central Boroughs, London prices increased by 11%, the biggest increase, followed by the East Midlands, driven by a 10.6% annual rise in Nottingham’s house prices.

There is likely to be fewer Chinese and Russian buyers in the prime central London property market in 2016 but a rise in interest from the Middle East, particularly Iran, is forecast.

Overall there is unlikely to be much growth in this market which has been hit by increased property tax charges with more set for second home and buy to let buyers in April.

‘We are cautiously optimistic about 2016, however the market is unsettled and liquidity is down. We don’t expect much growth in the central London market as a whole, except for the very best stock which we believe will keep increasing in value,’ said Rory Penn of property agents VanHan.

‘Prices at the top end of the market may adjust to compensate for increased tax costs. We expect th...

Home owner house purchase lending totalled £10.7 billion in November, down 9% on October but up 18% on November 2014.

The latest data from the Council of Mortgage Lenders also shows that first time buyers borrowed £4.2 billion, down 9% on October but up 14% on November last year.

Home movers took out 32,300 loans, down 10% month on month and up 9% compared to November 2014. In total, this was £6.5 billion borrowed, down 10% on October but up 20% year on year.

Home-owner remortgage activity was down 9% by volume and 14% by value compared to October. Compared to November 2014, remortgage lending was up 24% by volume and up 36% by value.

Gross buy to let lending fell month on month, down 6% by volume and 8% by value, but the substant...

Some of the UK’s most rundown housing estates will be replaced with attractive and safe homes with a new fund for regeneration projects, it has been announced.

Prime Minister David Cameron released details of what he called a comprehensive approach to estate regeneration with the creation of a new £140 million fund.

He said that the government will work with 100 housing estates across the country to either radically transform them or, in the worst cases, knock them down and replace them with high quality new homes.

‘Within these so-called sink estates, behind front doors, families build warm and welcoming homes. But step outside in the worst estates and you’re confronted by brutal high rise towers and dark alleyways that are a gift to ...

Last year was lackluster for residential property rental growth in cities in Australia with rents increasing by just 0.3%, the latest index data shows.

Rents increased by 2.2% in Melbourne, by 1.9% in Sydney and Canberra, and by 0.6% in Hobart. They fell by 13.2% in Darwin, by 8% in Perth, by 0.3% in Brisbane and by 0.2% in Adelaide.

‘We’ve never seen rental growth as sluggish as it is at the moment. Furthermore, we’re expecting to see more of the same over the coming months due to increases in the supply of new housing, rental stock and a further slowdown in migration rates,’ said CoreLogic RP Data research analyst Cameron Kusher.

The CoreLogic RP Data index also shows that combined capital city rental rates are at $483, an increase o...

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