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Residential News Edition | WORLD PROPERTY JOURNAL

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Home Seller Average Profit in U.S. Hits Record High $65,500

Home Seller Average Profit in U.S. Hits Record High $65,500

According to ATTOM Data Solutions' Year-End 2019 U.S. Home Sales Report, home sellers nationwide in 2019 realized a home price gain of $65,500 on the typical sale, up from $58,100 last year and up from $50,027 two years ago. Read More »


Home Sales in U.S. Jump 3.6 Percent in December

Home Sales in U.S. Jump 3.6 Percent in December

According to the National Association of Realtors, existing U.S. home sales grew in December 2019, bouncing back after a slight fall in November 2019. Although the Midwest saw sales decline, the other three major U.S. regions reported meaningful growth last month. Read More »

London Home Buyer Activity Spikes 92 Percent in January, Driven by General Election Results

London Home Buyer Activity Spikes 92 Percent in January, Driven by General Election Results

Knight Frank is reporting the number of new prospective home buyers registering with them in London rose Read More »

U.S. Remodeler Confidence Index Upticks in Q4

U.S. Remodeler Confidence Index Upticks in Q4

The National Association of Home Builders latest Remodeling Market Index (RMI) posted a reading of 58 in the fourth quarter of 2019, up three points from the previous quarter. Read More »


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Luxury Property Spotlight

Grand Tetons Wonderland - (Driggs, Idaho)

Grand Tetons Wonderland - (Driggs, Idaho)

Huntsman Springs is golf and club community developed by Jon Huntsman, Sr. A place of serenity and beauty in the hitherto undeveloped Teton Valley of Western Idaho. Read More »


Regional Residential Real Estate News

Last Updated January 23, 2020 9:00 AM ET

North America

According to ATTOM Data Solutions' Year-End 2019 U.S. Home Sales Report, home sellers nationwide in 2019 realized a home price gain of $65,500 on the typical sale, up from $58,100 last year and up from $50,027 two years ago.

According to the National Association of Realtors, existing U.S. home sales grew in December 2019, bouncing back after a slight fall in November 2019. Although the Midwest saw sales decline, the other three major U.S. regions reported meaningful growth last month.

The National Association of Home Builders latest Remodeling Market Index (RMI) posted a reading of 58 in the fourth quarter of 2019, up three points from the previous quarter.

CoreLogic's latest Single-Family Rent Index (SFRI) shows a national rent increase of 3% year over year in November 2019, unchanged annually.

According to new research by Zillow, the total value of every home in the U.S. is $33.6 trillion, nearly as much as the GDP of the two largest global economies combined -- the U.S. ($20.5 trillion) and China ($13.6 trillion).

U.S. home builder confidence in the market for newly-built single-family homes edged one point lower to 75 in January 2020. The last two monthly readings mark the highest sentiment levels since July of 1999.

Last Updated June 13, 2019 9:03 AM ET

Latin America

Slovenia is home to the world's fastest rising house prices with average values accelerating 18.2% year-on-year. Falling unemployment, low interest rates and until recently, limited supply, are behind the strong price growth.

Panama, the winner of the 2019 Global Retirement Index, has been a constant in the Index, but this year marks the 10th time it's reached the #1 spot--climbing from third place to scoop the top prize.

According to InternationalLiving.com's 2018 Global Retirement Index, Costa Rica takes the top spot for the first time in the index's history.

According to InternationalLiving.com's recently released 2017 Global Retirement Index, the top retirement destination in the world this year now goes to Mexico.

According to InternationalLiving.com's 2017 Global Retirement Index, Mexico gets top marks as the best place to retire based on cost of living, retiree benefits, climate, healthcare, and more.

According to InternationalLiving.com, there has been a 160% surge in online searches for terms like "move overseas" and "expats overseas" post Trump election victory this week.

Last Updated January 22, 2020 9:00 AM ET

Europe

Knight Frank is reporting the number of new prospective home buyers registering with them in London rose

The headline rate of the UK's house price growth continued to slow through 2019, leaving annual house price growth for the UK 0.7% at the end of October 2019, down from 3% at the same point last year.

Prime regional country house prices in the United Kingdom were unchanged in the final three months of 2019, taking the annual change in values to -0.8%. Prices have been flat or declining for the past three years.

Home prices in Ireland fell by 1.2% during 2019, the first calendar year recording a fall in prices since 2012. The average price nationwide in the final quarter of the year was €250,766, 2.4% lower than in the third quarter and 1.2% lower than a year ago.

According to global real estate consultant Knight Frank, home prices across 56 countries and territories worldwide are rising at an annual rate of 3.7% on average. This marks the index's slowest rate of growth for over six years.

Ireland home prices in 2019 grew by 1% year-on-year and 715 properties were sold so far this year that are worth €1m or more.

Last Updated January 21, 2020 9:12 AM ET

Asia Pacific

A muted domestic economy, ongoing trade wars and other geopolitical tensions were all contributors to declining home sales in Singapore in 2019.

According to JLL in its Macau Year-end Property Review 2019, impacted by the cautious investment sentiment caused by the global economic uncertainty, all property sectors in Macau experienced a significant fall in transaction volume last year.

The longest bull market in Hong Kong's property market history has come to an end in the second half of 2019 due to the local social unrest with Mainland China, and related economic uncertainties surrounding it.

The average number of bidders for residential sites in Kai Tak decreased by 67% to just 5.5 in 2019 from two years ago.

According to Knight Frank's latest Australian Prime Waterfront Index, prime absolute waterfront properties in Australia are worth up to 63% more than their inland counterparts on average.

Singapore's non-landed private residential sales continued to grow for the second consecutive quarter, with new sales in Q3 2019 reaching 3,198 units, up 49.2 per cent from Q2 2019.

Last Updated October 22, 2019 9:02 AM ET

Middle East and Africa Pacific

Chinese property investment in the UAE has slowed in the third quarter of 2019. The growth rate tapered off in the third quarter and was down 15% compared to Q3 2018, but enquiry levels remain healthy.

According to the Property Monitor's latest Dubai House Price Index, the average annual house price in Dubai decreased by 12% in March 2019, with some communities registering even higher price declines.

According to the latest Dubai House Price Index, the average annual home price in Dubai decreased by 10.6% in February 2019, with some communities registering even higher price declines.

The Abu Dhabi property market heavily favored renters and buyers in Q1 of 2018, with market data showing price decreases in all areas. both apartments and villas across the sales and rental sectors became increasingly affordable in Q1.

Residential rents across Dubai registered no change during the first quarter of 2018, helping improve the annual rate of change to -3.1%, from -7.7% at the end of last year.

According to property portal Bayut, Al Reem Island is the most in-demand area among Abu Dhabi tenants this year with studios, 1-beds and 2-beds commanding AED 60k, 82k and 120k, respectively, (14% decline from 2016).

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