Jones Lang LaSalle and LaSalle Investment Management released their 2010 Commercial Real Estate Transparency Index, elevating Australia to the top spot as the world’s most transparent real estate market in 2010, pushing Canada into second place.
“Canada differentiates itself on having a combination of a sound banking system, well-developed commercial real estate lending standards and stable property markets with relatively low vacancy and rental volatility,” the report states.
“The country’s large, conservative financial institutions contributed to its high ranking, as did its relatively stringent protections for investors. Canada’s largest investment banks are housed within its chartered banks, which have strong deposit bases and high capital reserve ratios, making bank runs and wholesale failures unlikely.”
Read the full report here…
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The increase in the supply of new listings and reduced sales in Vancouver West for June help to ease the buying pressure from home buyers. Elsewhere, the supply of homes in other mucipalities in Greater Vancouver remained at around the same level as the previous month, while sales dropped slightly. Home prices in Vancouver West appeared to be holding, but sales volumns for detached homes and condos continued the previous decline. However, townhome sales recovered, and reached around the sale level as for April, 2010.
Detached homes in Vancouver West registered the 3rd month decline in, while condo sales followed a 2nd month of decline. The overall market is not showing any sign of a major price correction. Some sellers are now adjusting to the slower market by reducing their selling prices.
Some weak home sellers sensing the weakening market, are starting to reduce their listing prices as homes are taking longer to sell. Vancouver West will likely follow the other municipalities, posting sales decline in the coming months. The charts here showed the 12 months Vancouver West housing sales values for detached homes and condos are declining.
With the general market declining, it is doubtful that the next few months townhome sales in Vancouver West can maintain the strong showing for June, 2010.
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The increase in the supply of new listings and reduced sales in Vancouver West for May may signal the end of the price escalation. Elsewhere, the months of inventory are increasing at a rapid rate. Richmond is projected to reach a balanced market in another 2 months as the May’s ratio is at 4.39.
In contrast, townhome and condo sale in Vancouver West registered the 1st month of declining sales volume. As for detached homes, May registered the second month in the decline of the aggregate sales volume. The overall market is not showing any sign of a major price correction. Some sellers are now adjusting to the slower market by reducing their selling prices.
Some weak home sellers sensing the weakening market, may start cutting prices to dispose their homes. Vancouver West will likely follow the other municipalities, posting sales decline in the coming months. The charts here showed the 12 months Vancouver West housing sales values for detached homes, townhouses and condos are declining.
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