Though a continued rise was seen in the home prices this spring but the speed of the increase has definitely pulled down as compared to the end of the previous year. Though the prices grew in May but were the weakest observed in the last fifteen months.
Zillow Inc. the real estate website operator from U. S is in advanced discussions for the acquisition of its smaller rival Trulia Inc. said people who are familiar with the matter.
The heat is decreasing in the UK housing market as the seller lower their prices that are up for sale. The house prices have fallen for the first time in the current year.
The asking price dropped by 0.8% in an average according to a property website. It was the first monthly drop that has been noticed since December and when compared to the 0.3% increase during the month of July in 2013.
According to a leading building society, not a single area in London is affordable for first-time buyers.
In spite of reporting record numbers of people getting on the housing ladder last year, Halifax said 100 per cent of local authority districts in the capital were out of the range of average earners.
The Bank of England says that the number of mortgage approvals made to UK home buyers has grown to a six-year high.
A total amount worth STG11.1 billion ($A20.6 billion) for a number of 70,758 loans were approved for house purchases in November, which marked the highest total seen since 72,004 loans that were given the green light in January 2008.
Last year home prices in Sydney increased 14.5 per cent but analysts believe the mini boom is over with 2014 growth likely to be meeker.
Yesterday the released housing data shows Sydney to be the powerhouse of the nation with house values growing by 15.2 per cent and units 11.6 per cent.
The increase helped to drive the national real estate growth by 9.8 per cent.
In November the contracts to purchase previously owned homes rose less than the forecast, demonstrating higher borrowing costs are holding back the recovery in residential real estate.
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