Updated Feb. 13 with the latest consumer price index data from the Bureau of Labor Statistics and the latest Zillow data for rental trends in January.
Annual rental price growth is still way below pre-pandemic averages, according to the latest rental data from Zillow, the real estate website, for January 2024.
Rent prices are now 29.4% higher than they were before the pandemic, but rental growth seems to have slowed from the major spikes of 2021. In January, rents are 3.4% higher than at the same time last year. The average growth in 2018 and 2019 was 4.1%.
The reasons…
WA Units are selling almost as quickly as houses as desperate buyers seek to enter the property market.
According to www.reiwa.com data, houses sold in a median of eight days in February, while units sold in a median of nine days.
REIWA CEO Cath Hart said houses have been selling quickly for some time, but the speed of unit sales has accelerated in the past few months.
“Units are selling 13 days faster than they did a year ago,” Ms Hart said.
“Traditionally buyers prefer houses – we all like to have our own patch of land, and houses generally…
“It is not a housing market that is working or fair,” says Sajjad Ahmad, who has been in the world of private renting for more than 40 years. “Rents are far, far too high.” But Ahmad is not one of the 11 million private tenants in England and Wales. Instead, he is among a growing number of landlords who now agree with many of their tenants that the system is broken.
He had 30 flats and houses across England – in Grimsby, Kirkby and Crawley – until he sold 16 last year. “I want to get out of the sector,”…
PHOENIX (3TV/CBS 5) — Arizona Attorney General Kris Mayes is suing RealPage and nine corporate-owned landlord operators, accusing them of illegally price-fixing apartments and other rentals in the Phoenix and Tucson metropolitan areas.
“In the last two years, residential rents in Phoenix and Tucson have risen by at least 30% in large part because of this conspiracy that stifled fair competition and essentially established a rental monopoly in our state’s two largest metro areas. RealPage and its co-defendants must be held accountable for their role in the astronomical rent increases forced on Arizonans,” Mayes said in a news release on…
The rise of technologies, such as AI, and the solid growth in tourism-related sectors could drive Europe’s commercial real estate market next year, while the housing market struggles to get back on its feet and the rental market soars.
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European real estate investment is at a decade-low, and many forecasts expect 2024 to be the year to turn this trend on its head, not least due to potential key rate cuts.
For borrowing costs to shrink and the economy to rebound in many European countries, it’s vital that the European Central Bank (ECB) and the Bank of England (BoE)…
House sharing is on the rise across the country, as the affordability crisis drives many towards sharing a home or welcoming a house mate amid the rising cost-of-living.
More than 210,000 people sought out share homes or potential house mates on share accommodation platform Flatmates in January, marking its busiest month on record. It was 6% higher than the previous record in January last year.
The surge in house sharing activity comes as rents climbed ever higher last year while homes were available to rent at historically low levels.
Flatmates community manager Claudia Conley said January was the busiest month…
News Corp Australia Network
A real estate expert has predicted Townsville property prices will soar in coming years. Picture: Supplied
Townsville is tipped to lead property price growth across the country as local, relocating and investor buyers compete for a dwindling supply of homes in the NQ capital.
Craig Stack, Knight Frank senior partner Townsville and Mackay said he predicted Townsville would soon see one of the highest price growths in the Australian property market.
“Continuing strong demand for the low supply of existing housing in Townsville will lead to price growth, and we think the median sale price for…
“The lack of affordable and suitable rental options when living alone is likely to be implicated in these complex housing dynamics over time, contributing to a more enduring structural change of who can afford to rent independently without a second income to rely on,” the report said.
Low-income earners could only afford to pay $225 per week in rent, study author and Swinburne University of Technology researcher in urban and regional planning Margaret Reynolds estimated, and it was impossible to find rental properties for that price, especially in Sydney and Melbourne.
Rents have jumped since the research period. Sydney’s median…