Five things you may have missed this week.... 26th March
This week’s round-up of the latest residential market content produced by the global research teams.
2 minutes to read
Australia: Investor activity is increasing with Perth, Darwin and Adelaide recording the strongest rental growth
The new Australia Residential Review confirms that after several years of owner-occupiers dominating the residential market, the low interest rate environment is attracting more investors with rental growth strongest across Perth, Darwin and Adelaide. A diminishing pipeline of new projects over the coming years will keep vacancy rates low, offsetting the unexpected but temporary pause in inward migration due to the pandemic.
View online
UK: Summer will bring more clarity around the future of London’s financial services
Tom Bill talks to Reuters journalist Huw Jones to understand how negotiations are progressing between the EU and the UK when it comes to London’s financial services sector. Although a Memorandum of Understanding looks imminent, the working assumption on financial services equivalence is that it won’t happen. In the meantime, the focus has moved to what the Treasury will do to help the City of London. The thinking is we may see a second consultation this summer from Number 11 that will focus on boosting the competitiveness of the City.
View online
Private Wealth: PRS and logistics shine brightest for private investors
Flora Harley delves deeper into The Wealth Report’s Attitudes Survey data and finds the private rented sector (PRS) and logistics are now top of UHNWIs shopping lists. Offices have fallen to fourth place just behind development land but rapidly rising up UHNWI’s wish lists are data centres, a new entry for 2021 and a growth market given the societal shift to online services accelerated by the pandemic.
View online
Hong Kong: Robust home sales defy economic doom and gloom
The new Hong Kong Monthly report confirms that purchasing sentiment in the residential market improved in February, as the fourth wave of Covid-19 cases slightly receded. Bolstered by the soaring stock market and the prospect of economic recovery, underpinned by the city-wide vaccination programme, sales activity was robust during February. According to the Land Registry, transaction volumes increased 34.3% month-on-month to 6,125 units.
View online
Globally house prices rise at their fastest rate for almost three years
The latest Global House Price Index, which tracks the movement in mainstream prices across 56 countries and territories worldwide, registered its strongest rate of growth since Q1 2018. Prices increased by 5.6% on average in 2020, up from 5.3% in 2019. Turkey leads the index, due primarily to strong inflation, with New Zealand (19%), Russia (14%) the US (10%), Canada and the UK (both 9%) also accelerating up the rankings.
View online
Photo by Harry Down on Unsplash