A significant change has been made to the home appraisal process, which will affect both first homebuyers and upgraders. Lenders will now be required to implement a borrower-driven process for requesting a Reconsideration of Value (ROV). Essentially, owners of homes can now contact their lender and ask for their home to be revalued so that…
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Signs of an immediate uplift in the momentum of the New Zealand property market have emerged following the Reserve Bank of New Zealand’s decision to cut the Official Cash Rate (OCR) by 0.25%. Taking the OCR to 5.25%, the mid-August move by the Reserve Bank was the first rate cut in more than four years.…
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Keen observers of real estate often use trends in home loan applications as a predictor for the short-term performance of property prices. New data from the Australian Bureau of Statistics for May indicates Australia is having a strong winter ahead of an anticipated busy spring selling season. Significantly, the data illustrates that while there may…
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Facing voter frustration at housing affordability, the White House has pushed legislation to Congress seeking to cap annual rent increases at 5% and punish corporate landlords by withdrawing their federal tax breaks if they ignore the limit. The Biden administration also pledged to repurpose public land in Nevada so 15,000 affordable housing units can be…
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With interest rates now 0.5% less than just a few weeks ago, Canadian homeowners and buyers are poised to spur the market back into action. Whether the two recent rate cuts from the Bank of Canada will be sufficient to electrify the market remains to be seen. However, Canada is one of the first developed…
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Residential sales have been predicted to rise by more than 6% this year as the Canadian real estate market begins to bounce back from a quiet start to the year. Two interest cuts that have taken the cash rate to 4.5% are expected to entice more sellers into the market to meet the pent-up demand…
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The latest data from digital marketplace Wowa suggests a two-speed real estate scene across Canada right now. Even with two recent interest cuts that took the benchmark to 4.5%, parts of the property market remain red-hot while others appear stuck on the cool side. Wowa’s Housing Market Report released in June found national transactions totalled…
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The Australian Government’s recent move to incentivise Build-to-Rent (BTR) projects will help open up new options for property investors. A financial instrument called a Managed Investment Trust (MIT) is a core part of build-to-rent projects for investors. It allows multiple investors to pool their funds, enabling even individuals with limited financial resources to invest in…
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With pressure on the Federal Government to encourage the building of more homes to ease price pressures and the historically tight rental market, new data reveals a slowing in residential construction. The Australian Bureau of Statistics has reported the total number of dwellings approved fell in April. Daniel Rossi, the ABS head of construction statistics,…
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If you’re considering putting your property on the market in the next few months to catch the spring selling season, you’ll likely be researching New Zealand’s real estate trends. With house prices still averaging $975,000 and rising nationally by 3.3% year-on-year, you’d be right in thinking we have a solid, if not spectacular, market. Yet,…
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