HONG KONG, June 4 /PRNewswire-Asia/ -- RICS expects growth in real estates prices and construction activity to start to ease back over the second half of 2010 as tighter monetary policy raises risk premiums on lending and development activity.
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New Zealand’s housing market showing signs of moderation
Residential property price data, published by Quotable Value (QV), a government agency, reported that values had risen 6.1% in the year to April. This was reinforced by data released by the Real estate Institute of New Zealand (REINZ) in mid May, as their monthly house price index showed a broadly similar trend, with prices improving by 4.7% over the last year.
Canada lifts interest rates as house price recovery continues
The imminent housing data follows ongoing improvements in the Canadian economy, which appears to be supporting more activity in the real estate sector. Following on from strong GDP growth numbers on Monday, the Canadian Central Bank was the first of the G7 countries to lift interest rates this week.
Brazilian interest rates likely to move higher again
RICS believes the coming meeting of monetary policy committee of Brazil will result in another hike in the Selic rate of about 75pb as signs of continuing inflationary pressures persist in the economy.
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