Canadian House Prices Set to Rise

Canadian house prices look set to rise due to continuing low interest rates and a strengthening economic recovery. Prices have risen between 3.9% and 4.6% in the previous three months and are expected to rise nationally by 3% this year. Vancouver used to be the property hotspot of the country but with the average price for a standard two-storey house being over $1 million many buyers are choosing to look elsewhere. It is expected that many mid-size towns and cities will be targeted by buyers looking to get more for their money, and a lot of these areas are able to boast of low unemployment rates and good economic prospects.

Winnipeg is a city that is expected to perform especially well this year with property prices predicted to rise by up to 7%. Some of the reasons for this include good public sector employment, a growing agricultural economy and a solid manufacturing base. Housing here is also in short supply and the rising population is expected to boost prices further. The average house price in Canada is currently $348,600, whereas the average house price in Winnipeg is still less than $300,000. Other areas expected to well include Calgary and Edmonton which is largely due to the Alberta oil sands.

In spite of its close proximity to the states Canada has weathered the recent economic downturn better than some other countries. This is largely due to its more cautious banking practices which have recently been closely examined by the UK as a model to follow. Anyone wishing to invest here should definitely consider looking at the less popular cities.

2011 to be Year of Recovery for Washington Property Market

AS you’d expect the Washington property market, like London in Britain and Paris in France, is very different to the rest of the US housing market.

While many US cities and states are still struggling, Washington home values have practically recouped the losses made during the downturn and is currently on an upward path.

A recent report by Clear Capital a 5.3% house price growth saw Washington rank second behind Honululu (7.2%) in terms of property price growth in 2010. The group is predicting that a 6.5% growth in Washington home values this year will be the largest in the US.

According to Clear Capital it is not just the prestige pushing Washington’s housing recovery, but the strong employment sector and low foreclosure numbers. With US unemployment currently at 9.8%, Washington’s 5% is clear indication of the massive potential of the city. Also, only 15% of Washington properties are bank owned compared to 40% in other areas of the country.

Locations such as Capitol Hill, Northwest D.C., Bethesda, and Chevy Chase are in higher demand due to the desirable locations and centrality. The towns that are further away are seeing slower increase.

2011 may also see a rise in property investors as they see the home values beginning to increase.

The crisis has led to the gaps between major cities and affluent towns and their less affluent counter parts severely widened. While Washington maybe an extreme case it certainly is not an isolated one.

South Africa Property Looking Good

South Africa is starting to look particularly good to foreign investors as confidence in the market has steadily grown over the past year. The BRIC group is set to include South Africa and to become the BRICS group which should further boost the country's popularity.

All the countries in this group are tipped to become global economic powers which could one day eclipse the economies of today's richest countries. This exclusive group includes Brazil, Russia, India and China who are all countries which have proved to be of great interest to property investors.

Property prices in South Africa have risen an average of 8.3% in the previous year, but one of the most popular suburbs of South Africa saw prices rise by nearly 50%, although these massive rises are thought to now have stabilised but should still offer returns of between 8 and 12%.

Many property developers are concentrating on exclusive developments which should appeal to foreign investors, and which offer innovative designs which will always attract buyers. Some foreign investors may have been worried about the stability of the Rand, but the last three or four years have shown it to be one of the best performing currencies.

The South African president Jacob Zuma had been petitioning to join the BRIC group for a long time, and the invitation to join came from the Chinese president Hu Jintao.

The Chinese have long been aware of South Africa's rich natural resources and are very keen to forge a good relationship with this country. There seems little doubt that investors would be wise to look at South Africa very closely.

Seattle Real Estate Market Shows Signs of Improvement

After several years of a slow real estate market, commercial developers in Seattle are noticing a greater need for apartments in the area and are hopeful that 2011 will be a more productive year.

Apartments are in great demand these days due to the amount of foreclosures and people just not opting to purchase homes right now. Developers are putting up apartment complexes and seeing them filled up quickly.

Within the last year, vacancy rates have dropped and rent has increased slightly, which are clear signs of increasing demand. Analysts predict that 2011 will see a growing market as developers get on board and get building.

A 122-unit is set to begin being built in Belltown this month as well as a 105-unit development near Seattle University next month. R.D. Merrill Properties has their hopes on constructing a 234-unit complex on Capitol Hill in March that will target young adults. This same company is planning on construction in three other areas as well, including Wallingford, Ballard, and Lower Queen Anne.

One of the country’s biggest apartment developers, Avalon Bay Communities, anticipates building a 272-unit apartment complex as well. The number of apartments in the early permitting stages has increased 48 percent in the fourth quarter alone.

The market in Seattle has even prompted developers in other cities to come get in on the ripe market. Atlanta-based Wood Partners opened an office in November.

People just don’t seem as interested to purchase homes these days due to the poor real estate market the past few years. Many are waiting to see what the market will do in the next couple of years before making that decision.

Foreign investors drawn to Australian property market

Property in Australia used to be popular with British investors and also investors from New Zealand and the United States.

The economic downturn in these countries has led to a decreased number of investors, although recently the slack has been taken up by investors from the Far East, especially in certain areas of the country, which has proved very beneficial for the Australian property market as it has sheltered it from the worst of the economic downturn.

Australian property prices did decline during the worst of the downturn, but the news is getting a lot less gloomy and prices look set to rise as investment from overseas buyers returns.

The reason for this increase is because Australia is seen as a safe haven for investors who are looking for secure growth and who see huge capital gains to be made from buying into a depressed market.

The mortgage market for locals is difficult meaning that foreigners can easily outbid native buyers. Estate agents have been quick to exploit this trend with property exhibitions being arranged in major Asian cities.

There is little doubt that there are property hotspots around the country, especially in major cities where substantial investments into infrastructure are taking place.

The majority of the population live in the cities, and the capital of Perth is set to expand as massive construction projects are planned for this area, and also for Adelaide and other regional centres.

Foreign investment looks set to increase and the possibility of good returns looks set to continue especially while the more traditional markets of Europe and the United States remain in a state of flux.

Turkey to be Overseas Property Hotspot in 2011

Write About Property’s Liam Bailey has predicted that Turkey property will be the hottest overseas property investment in 2011. Bailey pointed out his surprise that he would do so, having been a staunch member of the “Turkey-needs-EU-membership” brigade until this year.

Bailey cited the excellent fiscal management by the AK party, which has focussed on paying down public debt even while its neighbours and competitors (Greece, Portugal, Spain) were running up huge tabs. On top of that, the banking reforms made after the Turkish financial crisis in 2001 left them able to withstand the crisis.

This left Turkey in a strong position when the crisis struck, because liquidity was high, and it was also able to lower interest rates as a measure of budgetary management rather than purely a alarmist way of fighting of the crisis. This calm, measured response increased the confidence of investors,

But, said Bailey, "what really sums up present day Turkey vis-a-vis worthiness as a property investment destination, with or without EU accession, is the great irony of Turkey ending its reliance on IMF assistance less than 1 year before Greece and Ireland would need such assistance.

"The balance of stability, high growth, high liquidity, low property prices and low interest rates is sure to make Turkey property a favourite with investors in 2011," he said.

Bailey said in other statements that Istanbul property was one of the top choices with pure investors, which are becoming more common in the Turkish property market, on top of the already strong holiday property market.

French Alps Just Got Even Better for Skiers

The French Alps have always been a popular tourist destination, especially for the ski season. More and more Britons are choosing to ski at least once a year, and many will jump at the chance to go skiing over a long weekend, especially with new flights from London City airport to Chambery giving them extra flexibility.

Chambery airport offers easy access to such well-known resorts as Val d’Isere and Tignes. It is estimated that over half a million people from Britain already own property in this area which is still ripe for development. Just an hour from Chambery airport is the village of Saint-Martin-de –Belleville which is part of the Three Valleys area. This is in one of the largest linked ski areas in the world as it has over 600 km of ski slopes and 200 ski lifts.

However tourist accommodation here is still at a bit of a premium with only two and a half thousand beds available which makes it an excellent place in which to own a second home. You can buy reasonably priced one and two-bedroom apartments which are fully furnished and have access to an indoor swimming pool, spa and gym, and they are located at the bottom of the slopes. Far more people choose to rent an apartment when they go skiing than to stay in a hotel giving owners excellent returns on their investment.

These types of apartments will bring in rental year round as during the summer months it is a popular holiday destination, but there is no doubt that it is during the winter months when the highest rental returns will be guaranteed, with the added bonus for owners of being able to leave work on a Friday only to be on the slopes a couple of hours later.