Qhere will be no government handouts for the hundreds of thousands of homeowners facing crippling increases in monthly mortgage payments after the Bank of England’s decision to raise rates to 5%. To do so would defeat the object of the interest rate rise – to cool down the economy – and prolong the inflation crisis. Further rate rises look likely as inflation proves stickier in the UK than many other high-income economies.
The government is instead opting to get the UK’s major banks to agree to a voluntary “mortgage charter”. This involves offering forms of temporary relief such as short-term…
Rent Out Property
Loophole in Scotland’s rent controls sees new tenants facing largest rises in UK | Scotland
A loophole in Scotland’s temporary rent controls has seen private landlords raising rents for new tenancies more than anywhere else in the UK, data reveals.
In an effort to tackle the housing crisis, the Scottish government this spring introduced a temporary rent cap limiting annual rises to 3% in most cases. But it allowed landlords to go higher if they were drawing up a new tenancy agreement.
Rental figures from Zoopla, the property website, suggest that Scotland’s landlords have used the clause to maximize the rent for new tenancies, which rose 12.7% in the year to July, faster than the…
Regional Queensland property market booming, offering high rental yields – residential news
Interstate investors and owner occupiers are flocking to north Queensland’s regional property market in droves, hoping to cash in on affordable housing in limited supply and offering very high rental yields.
It’s a story on repeat from Cairns and Rockhampton, to Mackay, where local agents talk of an unexpected boom.
It is also reflected in even the smallest coastal communities like Yeppoon, where the median house price is currently $590,000, which is a growth of 12.4 per cent in the past year.
Sandra Macklin, Principal Licensee, Mackay City Property
Sandra Macklin, Principal, Mackay City Property told API Magazine that stock…
‘Absolute game changer’: Five property predictions for 2024
It’s been a challenging year for the property market with rising interest rates, soaring house prices, a lack of supply and an increase in demand.
As for the new year, Domain’s 2024 Outlook Report predicts a further increase in house and unit prices, interest rates remaining at a high level and a strong population growth.
“We anticipate continued growth in house and unit prices, with some buyers, sellers and renters proactively adapting to the lingering impact of the 2023 market and potential changes in 2024,” Dr Nicola Powell, Domain’s Chief of Research and Economics says.
Here are Domain’s five predictions…
Adelaide property market predictions 2024 – House price & rental forecast
Adelaide’s property market is predicted to attain a modest growth of five per cent in 2024.
The SA capital’s relative affordability continues to be an attraction for international buyers.
2023 home price growth in Adelaide was the second largest, behind Perth.
Adelaide’s real estate market is known for its steady performance, a contrast to other major cities such as Sydney, which falter or soar at different times.
According to SQM research figures, Adelaide units and residences have achieved a respectable combined growth of 9.9% over the last 12 months.
Adelaide’s weekly property prices
Hotspotting founder, Terry Ryder, exclusively told The…
Not enough supply? Malta’s real estate reality
“Not enough supply” seems to be the consensus among directors of companies in the real estate industry. Many residents of the Maltese islands have expressed a growing concern regarding the increasing property and rent prices, adding on to the pressure being caused by the also rising cost of living. Many are concerned that they may be priced out of the market, at which point the question is: What happens now?
The Malta Independent on Sunday reached out to a number of leaders in the real estate industry.
Steve Mercieca, CEO of Zanzi Homes, said that he does not foresee a…
How much are short-term rentals really impacting Australia’s housing crisis and what are the proposed solutions?
The rise of short-term holiday rentals like Airbnb and Stayz has changed the way we travel, but they’re also blamed for driving up rents and exacerbating housing shortages in cities around the world.
Many places have begun to regulate short-stay rentals to encourage owners to return their properties to the long-term rental market for residents, instead of leasing them to tourists.
But there is no consistent formula — while some cities have banned it illegally, others have imposed fees or taxes.
More state and local governments have started to crack down on the short-term rental sector.(Supplied: Airbnb)
Are Airbnbs causing…
Palm Springs Home Market Choked by Airbnb Rules
UPDATED, Feb. 1, 2024, 12:36 pm: Investors who once saw shimmering profits in Palm Springs short-term rentals have hit an impasse.
A cap on short-term rentals in the Coachella Valley hub has all but frozen the housing market in high-demand neighborhoods, the Los Angeles Times reported.
Homes sit unsold for months and investors who gobbled up Palm Springs properties during the pandemic now face hundreds of thousands of dollars in losses.
When the Airbnb platform launched in 2008, it transformed the rental market by making it easier for homeowners to rent out houses and rooms. But then cities started to…