It's an international desk clearing post. "Brad Henderson, CEO of Sotheby’s, said recovery in Calgary’s top-tier real estate market has remained unsettled, in parallel to the city’s economic progress. In recent months, industry and consumer confidence have faltered in light of the city’s rising unemployment rate. While an entrenched buyers’ market is forecast that pending inventory will be the deciding factor in fall market conditions and housing values. 'There is a mounting risk that rising supply will place downward pressure on prices this fall,' added the report."

"Following a lacklustre summer performance, Metro Vancouver’s $1 million-plus real estate market is set to see even greater declines this fall, according to a Sotheby’s. Brad Henderson said, 'High-end sales and prices are softening in Vancouver, not only in the single family home segment, but across the city’s heated condominium and attached home markets. In the upcoming fall market, it will be buyers and investors who will hold the upper hand.'"

"So what's happening at the top end of the market today? The estate agents' windows are full of properties that have been for sale forever. One Edwardian pile in South Dublin has been on the market for five years and had its price reduced in increments by €1.5m. It's still for sale. A big country house has also been on the market for five years with €7.5m shaved off. No one wants to buy them because they are overpriced."

"With the mid market also softening in some city locations, such a strategy is now backfiring badly on the culprits. Meantime, banks and funds have been getting to grips with bad loans and pushing incumbents to sell. If you're thus strapped, placing your home on the market for an unsaleable price is a way of buying time. The deliberately overpriced category also includes divorced spouses who don't want to move when it's time to sell and divide."

"House prices in London’s top 10 most expensive streets have all fallen over the last year, in a fresh sign of the slump sweeping the capital's high-end property market. Property website Zoopla’s 2018 rich list has found that on average more than £4.5m has been wiped off the total average house price from the top 10 priciest streets in the last year."

"In Kensington and Chelsea – a London borough that has become synonymous with luxury houses and millionaire residents – house prices have fallen nearly 14 per cent in the last year."

"Hong Kong property prices are being cut as an interest rate rise looms. Fears of an interest rate rise, the resulting mortgage cost increases and their effect on the already weakening yuan are forcing home sellers to reduce their asking prices."

"It’s interesting to note that a number of mid-to-low properties are now on sale for less than their bank valuations, as this indicates homeowners aren’t in a positive mood as regards the prospect of a sale. In the marketplace, discounts of around 12 to 13 per cent are now common, with realtors in the region believing a price correction of up to 15 per cent is now underway."

"Commercial sellers in particular are attempting to unload unsold stock by cutting prices to attract new buyers, preferring to cash in rather than hold the properties and wait for the next period of price increases. The trend is expected to continue downwards, with major players in the field seeing a slowdown of interest as well as actual prices realised coinciding with a drop in square footage prices."

"The government will reconsider the exemption of Sales and Services Tax (SST) on construction materials if house prices are not reduced, said Finance Minister Lim Guan Eng. Rehda Malaysia president Datuk Soam Heng Choon urged all developers to pass on all savings back to house buyers, on top of any discounts and rebates that they are offering."

"'We want to see price reduction. I am not interested to see additional freebies. That is meaningless. We want to see prices lowered, that's all,' said Eng."

"House prices are finally dropping in Sydney and Melbourne but scary predictions about the market may have left some first home buyers wondering whether it’s a good time to buy. Property expert Michael Yardney said it was a very confusing time for first home buyers because of the mixed messages around the possibility of a housing crash and interest rate rises."

"'Last year they suffered from FOMO (Fear of Missing Out) and every week they were reading about property prices going up and they thought they had missed the boat,' Mr Yardney told news.com.au. 'Today it’s the opposite. They are thinking if they buy now, their property could be worth less down the track.'"

"Mr Yardney said properties had doubled in value every 10 years for the past 30 years, when good records started being kept. 'As long as you bought a good property at a fair price — and waited — it went up,' he said."

"Something home buyers should be realistic about though, is price growth. 'Property prices have experienced double digit growth in Melbourne and Sydney but that was a boom and it was unsustainable,' he said. 'You’ve got to have realistic expectations, that you are buying a house to provide shelter for your family, to have control over your environment … and so you can decide whether you want things like a pet.'"

"Once you have bought your own place, don’t keep looking at properties. 'It’s normal to have buyers remorse,' he said. 'Anytime you purchase an expensive item, like a handbag or suit, you begin thinking you could have paid less or got something else instead. Be assured, a well located property in Australia, despite the ups and downs, have always increased in value.'"

"Over the past year, some of Sydney’s waterfront suburbs have seen a drop of more than $200,000 in median home prices, far more severe than the $50,000 drop seen throughout Sydney as a whole."

"Among the most severely affected are beach-side suburb Hunters Hill, which saw its median apartment price slump by $276,150, and tourist precinct the Rocks, which saw median home prices plunge by $390,000 – each area seeing roughly a fifth of value lost, 15 to 20% reductions pervasive in Sydney’s shore-front locations."