USA
U.S. mortgage rates rose to 6.32% for a 30-year fixed loan, the biggest increase since April. Freddie Mac’s economist noted that the rise reflects economic strength, despite higher rates making affordability tougher. While some buyers may hesitate, others are advised to act now since lower rates may not return soon. International Mortgages are also gaining attention from global buyers navigating rate volatility. Melissa Cohn suggests focusing on finding the right home first and “worry about rates secondly,” as future rate drops remain uncertain.
U.K.
Although renters continue to face mounting pressure, the U.K. property market shows signs of resilience as it recovers from past economic instability. House prices have started to stabilize in some regions, but affordability remains a significant issue, especially outside London. The Royal Institution of Chartered Surveyors (RICS) notes that while demand increases, affordability issues are still challenging for many potential buyers.
Canada
Canada's apartment rental market reached historic tightness in 2023, with vacancy rates at a record low of 1.5%. Rent for a two-bedroom unit increased by 8%, highlighting the affordability crisis, especially in cities like Toronto and Vancouver. The demand, fueled by high immigration, continues to outpace supply, worsening affordability issues across major cities.
Australia
Australia’s property market is now valued at $11 trillion, but growth has slowed. Home values rose only 1.0% in the September quarter, the smallest increase since early 2023. Growth is slowest in Sydney and Melbourne’s suburbs due to cautious buyers and more listings. Australia Mortgages are playing a key role as inner-city areas are holding steady thanks to demand and population growth, but affordability remains a challenge as prices stay high.
Dubai
Dubai's real estate market continues to thrive, attracting global investors with its appealing lifestyle and high rental yields. Popular areas like Dubai Marina and Jumeirah remain in demand, driven by favourable market conditions and a growing interest in luxury and mid-market properties. The city's real estate sector is a hot spot for investors looking to relocate or diversify their portfolios.
Singapore
Singapore’s property investment sales rose by 8% in Q3 2024, reaching S$8.3 billion. Demand is strong for high-end properties, with interest from both local and international buyers. While the overall market faces some challenges, such as a dip in private home sales, the luxury property market remains solid.
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