By Leith van Onselen The Teranet-National Bank House Price Index for May has been released, which shows that Canadian house prices rose by 0.5% across the 11 major markets, with annual growth falling to 0.7%: Across the three major markets, values fell by 0.2% in Vancouver in May, but rose by 0.7% in Toronto and
While the Canada Mortgage and Housing Corporation (CMHC) has advised the Canadian Government to maintain strong macroprudential controls to prevent irresponsible lending, the Government is doing the opposite, summoning the first home buyer (FHB) patsies in a scheme that will launch on 2 September. From Global News Canada [my emphasis]: Under the plan, the government would
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that annual price growth climbed back into the black driven by a rebound in London: In the year to May, UK house prices climbed by 0.3% (up from -0.1% in April), driven by Greater London where value losses
By Leith van Onselen Back in March, The AFR has published a propaganda piece claiming “Millennials don’t want to buy Boomers’ sprawling, multi-bedroom homes”: Boomers and Millennials also want very different types of houses… Fifteen years ago, Boomers were building large, elaborate houses in states like Arizona, Florida, North Carolina, and South Carolina, The Wall
While Australia’s captured prudential regulator, the Australian Prudential Regulatory Authority (APRA), is busy cutting lending standards, in the form of the shredded interest rates buffer, just months after the Hayne Royal Commission lambasted Australia’s banks for shoddy lending, and just five months after APRA said is was permanent. The head of Canada’s state-run mortgage insurer,
By Leith van Onselen The Teranet-National Bank House Price Index for April has been released, which shows that Canadian house prices were flat in April with annual growth falling to 1.2%: Across the three major markets, values fell by 0.4% in Vancouver in April and by 0.2% in Montreal, whereas values rose by 0.3% in
By Leith van Onselen Late last year, Global News Canada reported that Chinese organised crime had laundered around $1 billion through Vancouver property in 2016, and $5 billion since 2012, which helped to partly explain Vancouver’s explosive price growth: While the study only looked at property purchases in 2016, an analysis by Global News suggests
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house prices are now falling in annual terms for the first time since February 2012: As shown above, house prices were down by 0.5% across the UK in the year to February, and down by 1.5% across
By Leith van Onselen The Teranet-National Bank House Price Index for February has been released, which shows that Canadian house prices fell 0.4% in February with annual growth falling to 1.9%: Across the three major markets, values fell by 0.7% in Vancouver in February and by 0.2% in Toronto, whereas values rose by 0.4% in
By Leith van Onselen The Teranet-National Bank House Price Index for November has been released, which shows that Canadian house prices were flat in January with annual growth falling: Across the three major markets, values fell by 0.3% in Vancouver in January, whereas values rose by 0.1% in Toronto and 0.2% in Montreal. In the
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its slowest level since April 2012, falling in real terms: Prices rose again in December – for the fifth month in a row – up 0.3%, or £875. Annual price growth
By Leith van Onselen From Bloomie comes analysis on how a synchronised housing bust is developing across global cities once considered ‘safe havens’: In Manhattan, the median condo price dipped below $1 million for the first time in three years. Hong Kong home values endured their longest losing streak since 2008, while prices in outer London neighborhoods fell for the first
Jeff Gundlach last night declared a global bear market: As the oil patch and US housing fray, the Fed is one and done for a last hike. So, I think Gundlach is wrong on US bond yields. On the trade war he is probably right though there is some upside risk as panicked economic managers
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its slowest level since April 2012, falling in real terms: House prices largely continue to flatline, and the rate of annual growth has fallen consistently since August. It now stands at
By Leith van Onselen The Teranet-National Bank House Price Index for November has been released, which shows that even though Canadian house prices fell in November, annual growth continues to bounce back from August’s post-Global Financial Crisis (GFC) low: Home values nationally declined by 0.3% in the month of November, driven by a 0.6% fall
By Leith van Onselen According to Global News Canada, Chinese organised crime laundered around $1 billion through Vancouver property in 2016, and $5 billion since 2012, and this partly explains Vancouver’s explosive price growth: The study findings, obtained by Global News, are a startling look at what police believe to be the massive money laundering occurring
By Leith van Onselen The cognitive dissonance on display at Interest.co.nz over the weekend was clear as day with two contradictory articles appearing side by side: one cautioning against lowering immigration and the other lamenting the huge increase in Auckland’s housing shortage: The second article on Auckland’s housing shortage is particularly alarming as it shows
By Leith van Onselen The Teranet-National Bank House Price Index for October has been released, which shows that Canadian house price growth continues to bounce back from August’s post-Global Financial Crisis (GFC) low: Home values nationally declined by 0.4% in the month of October, driven by a 0.8% fall in Vancouver and a 0.2% decline
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its lowest level in 6.5 years: House prices rebounded in October, up 0.4% – the first increase since February. The annual rate of price increases continued to slow, however, dropping to
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its lowest level in 6.5 years: Most regions saw annual price rises although average month on month growth (apart from in August) continued to slow, with a 0.1% drop in September
By Leith van Onselen The Teranet-National Bank House Price Index for September has been released, which shows that Canadian house price growth has bounced from last month’s post-Global Financial Crisis (GFC) low: In the year to September, Canadian home values rose by just 2.1%, up from 1.4% last month. The rebound was driven by Toronto,
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that values in London are rebounding after a period of price falls. However, in real inflation-adjusted terms, property values are still declining across the UK: Monthly prices rose modestly in August. They were up just 0.1%, but it
By Leith van Onselen The Teranet-National Bank House Price Index for August was released overnight, which shows that Canadian house price growth has stalled, growing at the slowest annual rate since the Global Financial Crisis (GFC): In the year to August, Canadian home values rose by just 1.4% – the slowest growth since October 2009.
By Leith van Onselen Back in 2013, , the UK central government launched “Help-to-Buy“, a scheme that provided government mortgage guarantees to marginal borrowers that would not otherwise qualify for a loan. At the time, Help-to-Buy was denounced by the Office of Budget Responsibility and the Treasury alike, who claimed that the scheme would do nothing
By Leith van Onselen Toronto’s housing market is showing further signs of life after both prices and sales abruptly plunged. The Teranet-National Bank House Price Index for July was released overnight, which shows that house prices in Toronto are rebounding after plunging 7.4% between July and December 2017: As at July, Toronto values were 4.0% below
By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that values in London have begun to rebound after a period of price falls, driven by the top-end of the market: Average prices in England and Wales were slightly down in June, falling by 0.2% from May, although
By Leith van Onselen Toronto’s housing market is showing signs of live after both prices and sales abruptly plunged. The Teranet-National Bank House Price Index for June was released overnight, which shows that house prices in Toronto have begun to rebound after plunging 7.4% between July and December 2017: As at June, Toronto values were 4.8%
By Leith van Onselen The Financial Times (FT) has published an interesting article on how young Londoners are fleeing the city for other regions of the UK, forced-out by exorbitant housing costs: Knight Frank, the estate agent, has analysed the latest migration data from the Office for National Statistics, which tracks internal moves within the
Canada may well be presaging the Australian property market with buying conditions in May falling well below expectations. And its the fault of the millenials of course: New mortgage regulations which are now in full swing have stymied fringe buyers, particularly millennials. According to new data from credit bureau TransUnion, new mortgage originations among millennials in Canada
By Leith van Onselen Toronto’s housing market appears to have stabilised after both prices and sales abruptly plunged. The Teranet-National Bank House Price Index for May was released overnight, which shows that house prices in Toronto have begun to rebound after plunging 7.4% between July and December 2017: As at May, Toronto values were 5.9% below
