Chinese cities warned to keep lid on house price rises

Dalian, China, one of four cities instructed to keep housing prices in check

By Caroline Thorpe

Five stories making global property headlines:

China asks cities to take heat out of market

The Chinese housing ministry has instructed four cities to check rising house prices, as policymakers strive to keep the country’s economy on an even keel. According to Reuters, Suzhou, Foshan, Dalian and Nanning received the request from the ministry of housing and urban-rural development earlier this month. In April, the ministry urged six other cities to remain alert to overheating land and housing markets.

Japanese housebuilder in UK modular home venture

One of Japan’s largest housebuilders is to partner the UK government in a £90m scheme to build “thousands” of new homes. Sekisui House will invest £21.9m in the joint venture, which will deliver modular homes built in factories rather than on site, the Financial Times reports. Homes England, a government body, will contribute £3.1m in equity and £26.9m in debt funding, with a third partner, UK developer Urban Splash, investing £37.5m.

A project in Sydney, Australia, by Sekisui House, which is investing in the UK

Canadian market forecast to stagnate

Canada’s housing market is predicted to remain in the doldrums, according to a Reuters poll of economists and property analysts. The survey, conducted earlier this month, forecast stagnant house price growth this year, with a 1.7 per cent rise in 2020. Prices in Vancouver, where prices have doubled since 2004, are predicted to fall 4 per cent this year.

Vancouver, where prices are forecast to fall 4 per cent this year

Nairobi tower to bring jobs boost

A 34-storey block will become the tallest residential building in Nairobi, reports Business Daily. The government-backed building on Ngong Road, 8km from the centre of the Kenyan capital, will contain 3,000 apartments. Housing principal secretary Charles Hinga said each apartment would create three jobs, according to the report.

Nairobi’s Ngong Road, alongside which the 34-storey tower will be built

UK properties with click appeal revealed

A £30m mansion in Kensington, west London, and a seven-bedroom arts and crafts home in Cheshire, north-west England, are among the five most-viewed homes on UK property sales site Rightmove so far in 2019. Another of the most popular properties, Canonteign Manor in Exeter, south-west England, is subject to a preservation order, as well as being set in 10 acres of countryside and boasting a swimming pool and staff apartment, Ideal Home reported.

Canonteign Manor, popular with prospective UK property buyers

Photographs: Dreamstime; Alamy; Rightmove

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