New US Home Sales Jump to Highest Level Since September
Sales of new homes in the US bounced back in March in a broad advance as prospective buyers toughed out high mortgage rates.
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Sales of new homes in the US bounced back in March in a broad advance as prospective buyers toughed out high mortgage rates.
Hong Kong developer Lai Sun Development Co. is considering options for a planned office tower in the City of London, including a potential sale of a stake in the project.
Germany’s financial regulator BaFin is taking a closer look at the real estate used by lenders to secure covered bonds known as Pfandbriefe, a €400 billion market traditionally considered among the safest in credit.
Taylor Wimpey Plc is failing to see lower mortgage rates translate into higher levels of home sales and is maintaining its forecast for fewer deals in 2024.
Chinese mainland investors increased their portion of total turnover of Hong Kong stocks to a record daily average in April, with the latest measures to bolster the city’s position potentially boosting their purchases.
Jul 16, 2018
Bloomberg News
,(Bloomberg) -- China’s home prices rose at the fastest pace in 21 months in June even as the government stepped up a campaign against property speculation.
New-home prices in 70 cities tracked by the government gained 1.1 percent from the previous month, according to Bloomberg calculations based on data from the National Bureau of Statistics released Tuesday. That compared with a 0.8 percent increase in May. It was the fourth straight monthly acceleration.
Price gains are picking up pace even as officials maintain a two-year campaign to cool the housing market and roll out an array of extra tightening measures that have helped send developers’ shares tumbling. In late June, the authorities announced a six-month campaign against property speculation in 30 cities, tightened approvals for loans for shanty-town redevelopments, and looked into further restricting developers’ sales of offshore debt.
“Home prices will still rise this year, while full-year sales will likely be slightly down from last year,” JPMorgan Chase & Co. property analyst Ryan Li said before the data release.
Home prices increased in 63 of the 70 cities in June, compared with 61 in May.
To contact Bloomberg News staff for this story: Emma Dong in Shanghai at edong10@bloomberg.net
To contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Paul Panckhurst, Peter Vercoe
©2018 Bloomberg L.P.