USA
Federal Reserve Chair Jerome Powell says the main problem behind the U.S. housing crisis is a lack of homes for sale. This shortage has made houses more expensive and harder to afford. He emphasized that while the Federal Reserve can influence interest rates, it cannot directly address the housing supply problem, which requires action through local and national policies to encourage construction and development.
U.K.
Hamptons has revised its U.K. home price forecast, now predicting a 3% decline in 2024, influenced by recent budget measures introduced by the Labour government. These measures, aimed at addressing housing affordability, include increased taxes on high-value properties and incentives for first-time buyers. The forecast adjustment reflects expectations of a cooling housing market in response to these policy changes, impacting both domestic buyers and those seeking International Mortgage UK solutions.
Canada
In September 2024, Ontario's home prices rose by 4.1% compared to the previous month, with an average price of $851,478—a slight 0.2% increase year-over-year. In the Greater Toronto Area, prices grew 3.1% month-over-month to $1,107,291, though this was down 1.1% compared to last year. Meanwhile, British Columbia's average home price fell 2.4% year-over-year to $942,969, despite a small 0.5% monthly rise. This suggests that buyers may find more favorable conditions in British Columbia, while Ontario remains a competitive market.
Australia
Brisbane's housing market remains strong, with prices reaching record levels. Since the start of COVID, home values in Brisbane have increased by 64%, even surpassing Melbourne's median home price. Despite increased listings and rising prices affecting affordability, demand remains robust, particularly for detached houses in inner and middle-ring suburbs. ANZ Bank forecasts a 5-7% property price rise in Brisbane in 2025, driven in part by continued interest in Australia Mortgages.
Dubai
Dubai's older buildings are attracting significant investor interest due to their prime locations, larger unit sizes, and established communities. These properties often cost less than newer ones, making them attractive to both buyers and renters who want more space in central locations. This trend highlights a shift in preference towards established properties that provide a balance of affordability and desirable locations.
Singapore
In Q3 2024, private residential rents in Singapore rose for the first time in nine months, showing signs of market recovery. This increase is due to steady demand from local and foreign tenants, especially in the luxury market. Fewer property restrictions and a stable economy have also boosted confidence in the high-end rental market.
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