Tag Archives: prices
Farm Ground Prices Increasing
By Brandon Redmond Story Created: May 15, 2013 at 3:39 PM MDT Story Updated: May 15, 2013 at 11:15 PM MDT Twin Falls, Idaho ( KMVT-TV / KTWT-TV ) The price of farm land and farm real estate began increasing in 2011 but it increased even more in 2012. “Back in 2011 when the market was down, things started picking up a little bit and was has happened since now is commodity prices have actually increased which actually increases the farm prices,” said Mark Jones with Robert Jones Realty. The cost for farm real estate has risen twenty to twenty five percent over the past two years. But what does the future hold? “The only thing that I can do is predict what happened in the history. In 2007 the market was on another top of the bubble we would say and that time the commodity prices dropped out and in 2008 we hit, we started going down from farm prices from that point. At this point with our commodity prices still looking fairly good in 2013, we see the prices staying fairly strong for the good quality farm ground,” said Mark Jones. But if commodity prices drop, then the potential is there for farm ground prices to decrease. If you are looking to buy farm real estate, you should contact an agent and get on their list. “The ground that we have. We are low on inventory and they get sold very quickly if they are priced correctly,” said Mark Jones. Jones also told us that now is a great time to sell farm ground. Continue reading
House Prices Rise £383 Per Day In Prime Central London
House prices rise £383 per day in prime Central London Friday 10th May 2013 Home owners in prime Central London are currently benefiting from price growth of £383 per day, the equivalent of a return air fare to New York City or Dubai, reports property consultant Cluttons in its latest Residential Investment Monitor Q1 2013. Following a slowdown in both the sales and lettings markets during Q4 2012, the prime Central London residential market has turned a corner, with positive growth recorded across all London regions. Values rose by 2.3% during the first quarter, taking the annualised increase to 6.8%, just ahead of the long run average of 6.7% per annum. Consequently, the average price of a flat in prime Central London breached the £1million mark for the first time, while the average price for prime residential property as a whole reached a new historic high of £1.53million in Q1, leaving prices 6.1% above the previous market peak of Q3 2007. This translates to an average increase of £383 per day. The best performing London region was Central North West, incorporating St John’s Wood, Hampstead, Maida Vale, Regent’s Park and Highbury & Islington, which showed price growth of 4.5%, pushing values above the £1.5million mark for the first time. Central West on the other hand, incorporating Hyde Park, Notting Hill, Kensington, Holland Park, Mayfair, Paddington and Marylebone saw the smallest increase of 1% over the quarter, which pushed average prices to £2.36million. Sue Foxley, Head of Research at Cluttons, said: “Prime Central London is once again experiencing robust price growth, driven primarily by the supply drought and strong domestic demand, aided by a greater take up of the historically low mortgage rates. To access property while also securing long-term capital value growth, buyers are looking to the edge of core locations with good transport links such as Clapham, Highbury and Canary Wharf, which in turn are benefiting from upward pressure on prices. “The prime London market appears to have successfully withstood the worst of the economic turbulence and continues to outperform the rest of the UK, albeit with relatively subdued levels of growth when compared to the years leading up to the recession.” Continue reading
Record Prices for US Commercial Property
Record Prices for US Commercial Property By Francys Vallecillo | May 7, 2013 2:47 PM ET U.S. commercial property prices hit record levels last month, a new report suggests. Green Streets Advisors’ commercial property index moved one percent higher than the record achieved in August, 2007, fueled by low interest rates and “modest economic growth.” The index rose one percent in April, after a two percent increase the month before, Bloomberg reports. “It’s likely we’ll see more gains,” Green Street analyst Peter Rothemund said in the statement. “Real estate continues to be attractively priced relative to the returns on offer in the bond market.” As confidence rises in U.S. commercial markets , investors looking for higher returns than those available from bonds are increasingly purchasing office and apartment properties, industrial buildings, malls and retail centers, according to Bloomberg . California-based Green Street bases the index on approximate value of portfolios of REITs which usually own high-quality properties. Not all studies agree about the levels of overall prices. In February, the Moody’s/Real Capital Analytics Commercial Property Price Index released in April was 20 percent less than a 2007 peak, Bloomberg notes. Continue reading
