The first thing to say about the MLS brand is that it is forever changing the traditional way that selling property happens. Normally when a property owner decides to put his property on the market he will do a quick survey of his local area and decide what he needs to do to maximize the possible selling price. This will normally involve some repainting, maybe a quick upgrading of the kitchen and bathroom (2 areas that always increase the value of a property by more than they cost), and always making sure the place is clean and if there is a garden that it is neat and tidy with the lawn mowed and flower beds clear of weeds.
Then they solicit the interest of the local realtors who will all advise on the possible selling price and, provided and agreement is reached will take their own photos and list the property on their books, websites and so on. Hopefully a client will come along and view the house, by arrangement, and make an acceptable offer and a sale agreement will be concluded. After that it all goes to notaries and mortgage companies and once it is all settled the sellers mortgage will be settled and a new Mortgage registered on the site. Out of the balance between the mortgage settlement fee and the amount the seller actually receives will be a number of fees by far the largest of which will be the commission due to the realtor.
Well MLS is changing all that.
For a start an individual with a property to sell is at liberty to list his own property on the MLS site for a small fee and then enjoy all the benefits available to normal members . These include unlimited text, Photographs including the 360 degree panoramas and virtual tours.
Google Maps and Street views, Optimizers so the ads will show on mobile devices and connections to the social media such as Facebook, Twitter and LinkedIn. Then inclusion in the top international directories and all other of these benefits.
Next and most importantly then is the fact that MLS Websites get over 1 million visitors every month and so there is a very good chance that the property will be viewed numerous times by the many buyers who are searching for properties such as yours and in your location.
Now the benefits are manifold . Firstly MLS does not charge commission on its own. It allows the professional members to earn commission from the seller directly. Furthermore it allows a non professional to find a job as a realtor as anyone who believes they can find a buyer for any of the properties listed on any of the MLS Websites to agree to share the commission due to the whoever listed the property in the first place.
So there are a great number of advantages to listing your property on the MLS Global Websites wherever it happens to be. Join the growing number of people using this new and effective way of buying and selling property.
Monday, December 16, 2013
Whats happening with MLS Global multi listing property websites
Why should YOU join as an MLS Member, what level of membership should I apply for and what are the benefits of each grade.
Why should you take out MLS Membership
In the niche of real estate sales and trading there is a new and effective force that is totally revolutionizing the way it works.
Traditionally those who wished to sell or let their property out contacted a local realtor (or a number of local, regional & nationwide realtors). These agencies would assess the property, take photographs etc and agree a realistic selling price and conclude an agency agreement. They would then list the property both in hard copy in their books and displays and well as possibly in the other branches of their agency as well as in the local media. Latterly of course all realtors have their own websites so the property would get listed there as well.
If granted an exclusive mandate the realtor may well arrange an open viewing day. This of course involves some expense for the agent who would take out a costly display ad in the media as well as have to devote the day to being on site.
Well MLS is adding a new dimension to the market. Multi Listing Service is a global website which is dedicated to the property sector but is NOT, and does not pretend to be, a real estate agent. What it does is allow anyone to list any property on their website and allows would be buyers to contact the advertiser directly. But it is MULTI Listing. Which means that any listing on one site is viewable on all its sites globally.
This means that a property up for sale in Florida or Quitana Roo or in Berlin is viewable by anyone who is logged into an MLS site anywhere.
So this is a fabulous boon to an individual wishing to sell his property as it allows him or her to be contacted directly by a buyer and a sale agreement reached with no commission payable. But this is the exception. The simple fact is that professional sales people in this niche are required to get the sales moving and as such they are worth the commission they get paid. As such MLS actively encourages professionals to join their site and real the myriad benefits on offer.
What are the various membership grades?
Effectively there are 4 levels of membership
The first is individual membership. Available at no charge to individuals who wish to sell their property. They will be charged a listing fee subject to special offers and will be sent all answers to their listing directly. It is also available to buyers or would be purchasers. Anyone is entitled to send a message or enquiry to any advertiser who has listed a property on the site. In addition they can also create a "wanted" ad listing their requirements for a property the wish to find.
Individuals get large number of the benefits that come automatically with listing your property on MLS. These include as part of a listing all of the following: 8 Photos, a video and panorama 360 degree virtual tour. There are many other options granted for belonging to MLS which include the additional features should you decide to deploy them; such as swapping your property for another or finding an on line agent to introduce a potential buyer. Access to Social Media such as You Tube, Twitter and Facebook. You get Google Adwords and Satellite Maps with directions. Promotion is across the world with promotion in 220 countries world wide. In addition all of the above are available on Tablet and Smart Phone Apps. There is also help desk support
All these and many more are all free and included in Individual membership. If you are an individual property owner and the property is desirable you can obtain these for only $49 per month. Why waste further time fretting about it. Sign up for Individual Membership and list your property today.
The next level is for Realtors or other professionals who have more than one property to list but haven't yet decided to commit to the upper levels of membership. Known as MLS Pro membership.
Here one gets to get an allocation for 10 Listings of different properties with 12 photos per listing, Unlimited descriptive text and well as all the features mentioned above, including the social media and google adwords and street views and Satellite maps with a couple of enhancements.
These enhancements are to do with the commission. It is possible that another individual or private individual may have a buyer for one of the properties listed and with MLS Pro membership you get the opportunity to share the commission. (Of course this works the other way where you may find a client for someone else's listing and can ask them to share commission with you).
You also get an Agents extended profile. And all this only $79 per month which is about 50% of the normal price.
But at this level you still don't get those options which really make MLS Listings stand out and which are only available on the next level up and which include the Ebay style auctions enhanced maps and direct mailing and monthly newsletters to over a quarter of a million members as well as active marketing to clients in 220 countries.
Now the next level up Global MLS Membership which offers listing for 30 listings with no restrictions on the number of photos videos and panoramas that may be posted on each listing. Swap and Auctions are available on the system as well as all the other benefits detailed in the above descriptions. All this for only $115 per month.
But you are still not getting the wanted lists and the ability to have your ads highlighted as featured listings, nor are you getting the access to the Legal Documents Library and Live Help desk support nor the banners ads available on the MLS Mexico site.
So the ultimate membership level is Global Professional MLS Membership which is basically every possible option so let us dwell on these in a list.
• No restrictions on the number of properties or the promotion materials such as photographs Videos and virtual tours on those properties listed.
• Access to the Wanted list which is unlimited
• Ability to get the properties up for Swapping or to go to the new EBay style Auctions
• The right to allow other agents or individuals to actively market your property listings for a share of the commission.
• Any special properties could be made featured listing which we all know increases the visibility and speeds up the sales,
• Unlimited access to the Legal Documents Library
• All listings are included in the mls-global.com site which has millions of visitors every month as well as the active marketing of the properties in 220 different countries.
• The active participation in the "Find a Job" service whereby anyone who introduces a buyer of one of your listed properties can negotiate for a share of the commission.
• Social Media Marketing
• Google Adwords, Earth and street view as well as the maps and directions to the location.
• Additions and entries in the monthly newsletters and direct marketing emails
• Everything above is also available for tablets and smartphones.
• Featured Agents profile and do on
All this fantastic service for only $159 per month.
There is little doubt that membership at this level is a great boon and can assist move a number of properties because of the advantages it gives for the world wide promotion and visibility of the properties that you as a professional realtor have listed on your books.
This article has gone out to convince you that if you are serious about selling your real estate MLS membership is one of the tools that you should definitely not ignore.
If you are an individual you get the advantage of advertising to the whole world at minimal cost. It will get your property seen by many potential buyers from all over the world. And the cost is minimal. In addition if you manage to conclude a sales agreement through the site you are relieved of the need to pay commission.
For professional realtors there are huge benefits to membership at some level. And these benefits increase exponentially as one upgrades one's membership. From MLS Professional to MLS Global membership there are some limits on the availability of the features and the number of properties that one can list. Those MLS Global Professional Members enjoy all the advantages of absolutely unlimited listings with every modern feature that it is available and which have shown themselves to be very effective in getting the listing looked at and offers made on the properties noticeably quicker than those which are not featured.
There is little doubt that Becoming a member of MLS is an intelligent thing to do and right now there are a number of promotional discounts available on membership.
Join Today.
Why should you take out MLS Membership
In the niche of real estate sales and trading there is a new and effective force that is totally revolutionizing the way it works.
Traditionally those who wished to sell or let their property out contacted a local realtor (or a number of local, regional & nationwide realtors). These agencies would assess the property, take photographs etc and agree a realistic selling price and conclude an agency agreement. They would then list the property both in hard copy in their books and displays and well as possibly in the other branches of their agency as well as in the local media. Latterly of course all realtors have their own websites so the property would get listed there as well.
If granted an exclusive mandate the realtor may well arrange an open viewing day. This of course involves some expense for the agent who would take out a costly display ad in the media as well as have to devote the day to being on site.
Well MLS is adding a new dimension to the market. Multi Listing Service is a global website which is dedicated to the property sector but is NOT, and does not pretend to be, a real estate agent. What it does is allow anyone to list any property on their website and allows would be buyers to contact the advertiser directly. But it is MULTI Listing. Which means that any listing on one site is viewable on all its sites globally.
This means that a property up for sale in Florida or Quitana Roo or in Berlin is viewable by anyone who is logged into an MLS site anywhere.
So this is a fabulous boon to an individual wishing to sell his property as it allows him or her to be contacted directly by a buyer and a sale agreement reached with no commission payable. But this is the exception. The simple fact is that professional sales people in this niche are required to get the sales moving and as such they are worth the commission they get paid. As such MLS actively encourages professionals to join their site and real the myriad benefits on offer.
What are the various membership grades?
Effectively there are 4 levels of membership
The first is individual membership. Available at no charge to individuals who wish to sell their property. They will be charged a listing fee subject to special offers and will be sent all answers to their listing directly. It is also available to buyers or would be purchasers. Anyone is entitled to send a message or enquiry to any advertiser who has listed a property on the site. In addition they can also create a "wanted" ad listing their requirements for a property the wish to find.
Individuals get large number of the benefits that come automatically with listing your property on MLS. These include as part of a listing all of the following: 8 Photos, a video and panorama 360 degree virtual tour. There are many other options granted for belonging to MLS which include the additional features should you decide to deploy them; such as swapping your property for another or finding an on line agent to introduce a potential buyer. Access to Social Media such as You Tube, Twitter and Facebook. You get Google Adwords and Satellite Maps with directions. Promotion is across the world with promotion in 220 countries world wide. In addition all of the above are available on Tablet and Smart Phone Apps. There is also help desk support
All these and many more are all free and included in Individual membership. If you are an individual property owner and the property is desirable you can obtain these for only $49 per month. Why waste further time fretting about it. Sign up for Individual Membership and list your property today.
The next level is for Realtors or other professionals who have more than one property to list but haven't yet decided to commit to the upper levels of membership. Known as MLS Pro membership.
Here one gets to get an allocation for 10 Listings of different properties with 12 photos per listing, Unlimited descriptive text and well as all the features mentioned above, including the social media and google adwords and street views and Satellite maps with a couple of enhancements.
These enhancements are to do with the commission. It is possible that another individual or private individual may have a buyer for one of the properties listed and with MLS Pro membership you get the opportunity to share the commission. (Of course this works the other way where you may find a client for someone else's listing and can ask them to share commission with you).
You also get an Agents extended profile. And all this only $79 per month which is about 50% of the normal price.
But at this level you still don't get those options which really make MLS Listings stand out and which are only available on the next level up and which include the Ebay style auctions enhanced maps and direct mailing and monthly newsletters to over a quarter of a million members as well as active marketing to clients in 220 countries.
Now the next level up Global MLS Membership which offers listing for 30 listings with no restrictions on the number of photos videos and panoramas that may be posted on each listing. Swap and Auctions are available on the system as well as all the other benefits detailed in the above descriptions. All this for only $115 per month.
But you are still not getting the wanted lists and the ability to have your ads highlighted as featured listings, nor are you getting the access to the Legal Documents Library and Live Help desk support nor the banners ads available on the MLS Mexico site.
So the ultimate membership level is Global Professional MLS Membership which is basically every possible option so let us dwell on these in a list.
• No restrictions on the number of properties or the promotion materials such as photographs Videos and virtual tours on those properties listed.
• Access to the Wanted list which is unlimited
• Ability to get the properties up for Swapping or to go to the new EBay style Auctions
• The right to allow other agents or individuals to actively market your property listings for a share of the commission.
• Any special properties could be made featured listing which we all know increases the visibility and speeds up the sales,
• Unlimited access to the Legal Documents Library
• All listings are included in the mls-global.com site which has millions of visitors every month as well as the active marketing of the properties in 220 different countries.
• The active participation in the "Find a Job" service whereby anyone who introduces a buyer of one of your listed properties can negotiate for a share of the commission.
• Social Media Marketing
• Google Adwords, Earth and street view as well as the maps and directions to the location.
• Additions and entries in the monthly newsletters and direct marketing emails
• Everything above is also available for tablets and smartphones.
• Featured Agents profile and do on
All this fantastic service for only $159 per month.
There is little doubt that membership at this level is a great boon and can assist move a number of properties because of the advantages it gives for the world wide promotion and visibility of the properties that you as a professional realtor have listed on your books.
This article has gone out to convince you that if you are serious about selling your real estate MLS membership is one of the tools that you should definitely not ignore.
If you are an individual you get the advantage of advertising to the whole world at minimal cost. It will get your property seen by many potential buyers from all over the world. And the cost is minimal. In addition if you manage to conclude a sales agreement through the site you are relieved of the need to pay commission.
For professional realtors there are huge benefits to membership at some level. And these benefits increase exponentially as one upgrades one's membership. From MLS Professional to MLS Global membership there are some limits on the availability of the features and the number of properties that one can list. Those MLS Global Professional Members enjoy all the advantages of absolutely unlimited listings with every modern feature that it is available and which have shown themselves to be very effective in getting the listing looked at and offers made on the properties noticeably quicker than those which are not featured.
There is little doubt that Becoming a member of MLS is an intelligent thing to do and right now there are a number of promotional discounts available on membership.
Join Today.
Tuesday, October 29, 2013
MLS USA on Facebook
MLS USA Facebook
Lo que nos hace diferentes de los demás sitios de MLS en la internet, es que nosotros usamos múltiples sitios para anunciar tu propiedad, los cuales son de nuestra propiedad y son controlados por nosotros mismos.
Por ejemplo. Si tu enlistas una propiedad en MLS USA enwww.multilistingserviceusa.com con todos sus beneficios que obtienes de ese sitio web, será automáticamente enlistado y disponible en el buscador de MLS Norte América enwww.multilistingservicenorthamerica.com, el cual será también enviado a nuestro sitio principal www.mls-global.com.
Tenemos muchos servicios que ofrecer cuando enlistas una propiedad, tambien tenemos secciones para publicar anuncios. Una gran seccion de administración para tus guías y estadísticas. Por favor sientete libre de usarlo y date la oportunidad usando el código de promoción "mlspromo" y enlista gratis tu mismo enhttp://www.multilistingserviceusa.com/en/index.php?action=addon_signup_promo
Derick Scott CEO
Tu opinión es agradecida.
MLS USA Promotion
What makes our sites different from the rest of the MLS websites on the internet, is that we use multiple site to advertise your property's which are owned and control by ourselves.
For example.
If you place a property listing on MLS USA atwww.multilistingserviceusa.com with all its benefits you get from that that website, it is automatically listed and searchable on MLS North America at www.multilistingservicenorthamerica.com which is then sent to our main site www.mls-global.com.
We have many services to offer when you list your property's , we also have a sections for wanted adds. A great admin section for your leads and stats. Please fell free to try it out use promotion code mlspromo and try for your self at http://www.multilistingserviceusa.com/en/index.php?action=addon_signup_promo
Derick Scott
CEO
Your feedback would be nice.
Wednesday, October 2, 2013
What is MLS Multi Listing Service
MLS stands for multiple listing service. Every home for sale listed by a real
estate agent, unless it is specifically exempted from MLS, will be listed in
MLS. However, only real estate agents and other professional affiliates can
access MLS, but that doesn't mean a home buyer or home seller can't get the same
information -- just not directly.
Back in the old days, like the 1970s, MLS information was available in print format. Books were published monthly; updates weekly. It was quite heavy and cumbersome to haul around! Fortunately, today it's online.
What is MLS?
MLS is a sharing of comprehensive home information among real estate professionals. Listings brokers enter the data about a home for sale and offer to share the commission with a broker who brings a buyer. It's an online software that contains all the specifics about a home, from the address, age, square footage, number of bedrooms, baths, upgrades and schools districts to types of financing the seller will consider, and more. There is generally at least one to a dozen photographs of the home, plus a link to a virtual tour, if one exists.
Home buyers make the mistake of believing they can access this information through online feeds to other services, but the data the public can receive is:
Limited in scope
Can be outdated
Often inaccurate
For Sale By Owners in MLS
While there is no separate category for a For Sale by Owner (or FSBO) listing, the MLS can contain listings from sellers who are unrepresented.
The way FSBOs circumvent some MLS restrictions is to pay a flat fee to a discount real estate broker to enter the information, but the seller is not really represented.
Instructions to present all offers directly to the seller is often frowned upon or prohibited by MLS authorities.
Sometimes the selling commission is less than the fee agents are offered by traditional brokers -- which does not motivate agents to show these listings, even though they cannot legally refuse to do so.
Who Owns the MLS?
The trend is leaning toward local MLS companies joining or merging with other local MLS companies to create regional MLS services. MLS can be privately owned and operated or it can be an affiliate of a local board of Realtors, among other forms of ownership, but most are subject to regulations set forth by the National Association of Realtors.
Back in the '80s, many MLS were owned by boards of Realtors, but conflict of interests and lawsuits caused many association groups to form a separate entity for MLS. In my area of Sacramento, for example, members of MLS are not required to be a member of the Sacramento Board of Realtors, nor the California Association of Realtors, nor the National Association of Realtors.
Finding MLS Listings
Many services offer to provide home buyers with a list of available homes on the market, but few provide comprehensive data. To get that information, you need to ask your real estate agent to set you up on a home search. Typically, there are many types of reports a buyer can receive, so ask your agent for the most comprehensive report, the name of which varies by locale. What you don't want is a customer copy. It's not enough information.
An agent can enter your name, e-mail and home search preferences into a search engine on MLS that will send you automatic e-mails of new listings. This way you will receive up-to-the-minute information that you can't really get anywhere else.
MLS Searches
If you're beginning a home search, lucky you! You can ask your agent to customize a search for you that will automatically send you updated listings. Not all agents will set up a search for you based on anything other active listings, so if you want to receive price reductions, pending or sold sales data, ask for it.
Here are a few ways (among many) that you can request to have your report customized:
ZIP Code
Radius Search, within a specified distance from a target address
Street or Subdivision
Within those parameters, you can further define your search to:
Price range from low to high
Number of bedrooms and baths
Garages
Pools and spas
Square footage
Your requirements can be even more clearly defined, depending on your priorities. But be aware that as the number of exceptions climb, you might be missing out on opportunities. It's wise to keep the list somewhat limited, especially for those cases where a data field might not contain data due to human error.
Back in the old days, like the 1970s, MLS information was available in print format. Books were published monthly; updates weekly. It was quite heavy and cumbersome to haul around! Fortunately, today it's online.
What is MLS?
MLS is a sharing of comprehensive home information among real estate professionals. Listings brokers enter the data about a home for sale and offer to share the commission with a broker who brings a buyer. It's an online software that contains all the specifics about a home, from the address, age, square footage, number of bedrooms, baths, upgrades and schools districts to types of financing the seller will consider, and more. There is generally at least one to a dozen photographs of the home, plus a link to a virtual tour, if one exists.
Home buyers make the mistake of believing they can access this information through online feeds to other services, but the data the public can receive is:
Limited in scope
Can be outdated
Often inaccurate
For Sale By Owners in MLS
While there is no separate category for a For Sale by Owner (or FSBO) listing, the MLS can contain listings from sellers who are unrepresented.
The way FSBOs circumvent some MLS restrictions is to pay a flat fee to a discount real estate broker to enter the information, but the seller is not really represented.
Instructions to present all offers directly to the seller is often frowned upon or prohibited by MLS authorities.
Sometimes the selling commission is less than the fee agents are offered by traditional brokers -- which does not motivate agents to show these listings, even though they cannot legally refuse to do so.
Who Owns the MLS?
The trend is leaning toward local MLS companies joining or merging with other local MLS companies to create regional MLS services. MLS can be privately owned and operated or it can be an affiliate of a local board of Realtors, among other forms of ownership, but most are subject to regulations set forth by the National Association of Realtors.
Back in the '80s, many MLS were owned by boards of Realtors, but conflict of interests and lawsuits caused many association groups to form a separate entity for MLS. In my area of Sacramento, for example, members of MLS are not required to be a member of the Sacramento Board of Realtors, nor the California Association of Realtors, nor the National Association of Realtors.
Finding MLS Listings
Many services offer to provide home buyers with a list of available homes on the market, but few provide comprehensive data. To get that information, you need to ask your real estate agent to set you up on a home search. Typically, there are many types of reports a buyer can receive, so ask your agent for the most comprehensive report, the name of which varies by locale. What you don't want is a customer copy. It's not enough information.
An agent can enter your name, e-mail and home search preferences into a search engine on MLS that will send you automatic e-mails of new listings. This way you will receive up-to-the-minute information that you can't really get anywhere else.
MLS Searches
If you're beginning a home search, lucky you! You can ask your agent to customize a search for you that will automatically send you updated listings. Not all agents will set up a search for you based on anything other active listings, so if you want to receive price reductions, pending or sold sales data, ask for it.
Here are a few ways (among many) that you can request to have your report customized:
ZIP Code
Radius Search, within a specified distance from a target address
Street or Subdivision
Within those parameters, you can further define your search to:
Price range from low to high
Number of bedrooms and baths
Garages
Pools and spas
Square footage
Your requirements can be even more clearly defined, depending on your priorities. But be aware that as the number of exceptions climb, you might be missing out on opportunities. It's wise to keep the list somewhat limited, especially for those cases where a data field might not contain data due to human error.
UK’s most expensive residential property demolition project unveiled
The carriage house in question in the heart of London’s Mayfair is on sale for £35 million and looks exceptionally pretty with a pink façade and a traditional private garden but has permission to be razed to the ground and replaced with an ultra modern mansion that could be worth £65 million.
Apparently the property in Mount Row, just a few minutes from the famous Connaught Hotel, is too outdated for today’s wealthy buyers and there is planning permission for a 16,000 square foot villa over six floors, including two basement levels, a landscaped garden and a guest villa at the end of the plot.
At £35 million for the land, plus builders costs, this represents the most expensive house demolition project ever undertaken in the country and agents Wetherell claim that once completed the property could be worth around £65 million, generating the new owner a £20million to £28million profit.
Mount Row was originally occupied by stable yards and cabinet making and upholstery workshops which served Mayfair’s grandest mansions. The house at 30 Mount Row was originally a carriage house, built to accommodate horse drawn carriages and related tack, with the coachmen sleeping in the eaves. Behind the carriage house was a large stable yard.
The coachmen of Mount Row were known as the whips or Mayfair whips, and are believed to be the inspiration for the famous phrase ‘crack the whip’. In 1886 the birth of the motorcar led to upheaval between the 1890s and 1930s with the carriage houses in Mount Row converted into houses and garages and the stable yards transformed into gardens.
The new mansion would have a 50 foot south facing frontage spanning four windows across. The ground and first floor would provide for grand entertaining rooms including an entrance lobby, library, three reception rooms, family kitchen/breakfast room and 26 seat formal dining room.
The 2,000 square foot master bedroom suite, with walk in dressing room, shoe room and two ensuite bathrooms would occupy the entire second floor, with a further five bedroom suites on the two uppermost floors. The lower ground floors of the new mansion are currently designed to provide a bowling alley, swimming pool and Jacuzzi pool room surmounted by skylights, cocktail bar, gymnasium, beauty salon, sauna, steam room, changing facilities and wine cellars. The mansion has a grand main staircase and lift to all floors.
The residence will open onto a landscaped garden leading onto the guest villa which is designed to provide a guest living room, kitchen and bedroom suite. The villa directly connects under the garden with the main house via a staircase to the lower ground floors.
‘The site is for sale for £35 million with consent to knock down and replace the exiting property. Therefore some have called this site the most expensive house knock down in the UK,’ said Peter Wetherell, managing director of Wetherell.
However, this is only half the story. Firstly the site is for sale on a freehold basis, which is extremely sought after in Mayfair. Secondly, the planning allows the buyer to create a bespoke new mansion of outstanding luxury and quality. Finally, the completed residence could be worth circa £65 million, effectively doubling the value of site,’ he explained.
‘For a discerning buyer this is an outstanding investment opportunity with the potential for huge capital value uplift. The Mount Row location is outstanding, in the heart of Mayfair and just moments from the Connaught Hotel and Mount Street,’ he added.
Hong Kong leads global house prices higher
Knight Frank’s global house price index confirms that average prices rose 6.6% in the year to March, the highest rate of growth since Q2 2010. Kate Everett-Allen assesses the potential for future growth.
Results for Q1 2013:
- The Knight Frank Global House Price Index rose by 2.0% in the first quarter of 2013 and by 6.6% over a 12 month period
- Hong Kong recorded the largest rise on an annual basis (up by 28%) while prices in China rose the most on a quarterly basis (up by 10.7%)
- Greece recorded the largest annual fall in mainstream prices for the third consecutive quarter, declining by 11.8%
- The US saw prices rise by 10.2%, its highest rate of annual growth since 2006
- Australia saw prices rise by 2.6% during the last 12 months
- Europe is the weakest-performing region, mainstream prices fell by 0.3% on average during the last 12 months
Thirty five of the 55 housing markets (63%) tracked by Knight Frank’s Global House Price Index recorded an increase in mainstream property prices in the year to March.
The index now stands 14.7% above its recessional low in Q1 2009.
Property prices in all world regions, except Europe, increased in the year to March (figure 3) with the Middle East performing best, rising by 10.6% on average.
Mainstream property prices in Hong Kong and China look to be flouting the efforts of policymakers to cool their property markets; both recorded price rises in the first quarter despite a raft of measures to kerb escalating prices.
Prices in Hong Kong are, on average, 28% higher than they were a year ago and in mainland China* prices are up by 23.8% in the last 12 months (and by 10.7% in the first quarter alone).
Greece, Hungary and the Netherlands occupy the bottom three rankings this quarter having seen prices fall by 11.8%, 9% and 8.3% respectively. But Europe’s difficulties don’t end there – aside from Japan and South Korea all the countries that recorded negative growth in the 12 months to March were based in Europe.
The Dutch market, which proved resilient in the aftermath of the financial crisis, is now starting to flag. Prices fell by 8.3% in the year to March driven by rising household debt and growing unemployment.
That said, there is some good news in Europe. Ireland has rid itself of double-digit price falls. Prices fell by 3% in the year to March, compared to a 16% decline a year earlier.
The UK’s property market is also improving. Here, prices rose by 0.2% in the year to March and stand 8.9% above their low in Q1 2009.
Beyond Europe’s shores, the South Africa and the US are performing strongly. Prices rose by 11.3% and 10.2% respectively in the year to March, up from -3.2% and -1.9% a year ago.
South Africa’s momentum is linked to an increasingly wealthy middle class who are tapping into the rising confidence of the wider African continent, keen to get on the property ladder.
In the US, prices have now risen for 12 consecutive months boosting consumer confidence which hit a five year high in May.
For further information, please contact:
Alexandra Austin, National PR & Communications Manager, 02 9036 6794 or 0413 993 221
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