A report from the New Daily in Australia. "More than a year on from the end of the property price boom and home values continue to tumble, auction clearance rates are down, and demand for mortgages has hit a four-year low. But are Sydney and Melbourne in the middle of mild downturns, or is this the beginning of a full-blown crash? Sydney buyers who got into the market a year ago will have a 'sick-in-the guts feeling' looking at houses and apartments at 'mid-2016 prices,' said Propertyology director Simon Pressley."

"'You’re now sitting on something worth less than what you’re paying for it, and it’s costing you roughly $30,000 a year to pay off. You’ve got to find that each and every year, no matter what the value does,' he said."

The Australian Financial Review. "The housing market downturn has taken a bite out of one of Australia's biggest privately owned real estate groups, Oliver Hume, forcing the 60-year-company to put a major Brisbane site on the market after swinging to a full-year financial loss on the back of falling sales and land write-down."

"Annual accounts for the 2018 financial year ending June 30 show the Melbourne-based project marketer, developer and fund manager slumped to loss of $2.2 million after posting a net after tax profit of almost $10 million in the prior financial year. The accounts show an $8.4 million write-down of land held for resale, a $9.3 million financial guarantee interest expense, $3.2 million of sales commission cancellations and $720,000 spent on redundancies and restructuring."

"The dramatic fall in the company's fortunes come as it looks to sell one of its Brisbane development sites, which has approval for 260 apartments. The project at 32 Cribb Street in Milton was held in a fund established in March 2014, with Oliver Hume settling on the 3500 square metre block for $13.7 million in June 2015."

"Insiders told The Australian Financial Review Oliver Hume was under pressure to return money to overseas high net worth investors who pumped tens of millions of dollars into its $5 million significant investor visa (SIV) property funds management platform that bankrolled its development business. The program invested the money in new developments, and promised an annual pre-tax return of 7.5 per cent generated from project profits."

"Over the course of the reporting period no fewer than six Oliver Hume directors resigned."

From Better Dwelling in Canada. "Thinking of selling detached Vancouver real estate? It might be a little rough right now. Real Estate Board of Greater Vancouver reported the price of a typical home fell to $1,524,000 in October, down 1.1% from the month before. Prices are now 5.1% lower than they were last year. The city saw even greater declines, with Vancouver East down 5.5%, and Vancouver West down 9.9% from last year."

"Detached price movements are getting worse. This is the 8th month we’ve seen prices growth decelate, and the 5.1% decline is the largest we’ve seen since June 2013. Nearly 3.9% of the declines for detached prices were over just the past 3 months. We haven’t seen the benchmark fall much more than this outside of a recession."

"Sales of detached real estate are still falling across Greater Vancouver. REBGV reported 634 sales in October, up 26.3% from the month before. Compared to the same month last year however, sales are down 32.11%. The monthly gain is seasonally appropriate, the annual decline is not. The decline in sales is really helping to push inventory levels higher."

The Calgary Herald in Canada. "Prices continued to fall last month for resale homes in the city as oversupply still weighs on the real estate market. Detached, apartment and attached market segments all suffered from too much supply and not enough demand in October. 'Oversupply is really across the board,' says chief economist Ann-Marie Lurie with Calgary Real Estate Board."

"'I wish I would have something new to say, but it’s been the same trend we’ve seen in Calgary for some time,' Lurie says, adding October marks the fifth consecutive month of falling benchmark prices."

The Red Deer Advocate in Canada. "The slowdown is province-wide. Alberta Treasury Branch said on Friday that Alberta’s house building rate has fallen to its lowest level in 10 years. 'The tumble in housing starts likely stems from the market’s imbalance of supply and demand,' says ATB in its report. 'There is a massive inventory of unsold homes on the market, particularly in Edmonton and Calgary.'"

"In Red Deer, residential permit numbers continue to trail last year’s pace. Steve Bontje, chair of Building Industry and Land Developers said the city has fared better than the big centres. 'We’re fortunate in Red Deer we don’t have some of the inventory problems that some of the bigger cities do. Edmonton and Calgary are really seeing a lot of empty spec product on the market,' he said."

From Discover Moosejaw in Canada. "One of the areas of concern is the current housing inventory and months of inventory. Currently in the city, it sits at 7.5. That's up from 6.2 last year. Including the region, it sits higher at 10.9. Rob Reynar, Manager of Operations and Member Services with Regina Realtors warns that no demand soaking up that product can lead to price reductions, which we are currently seeing."

"The MLS® Home Price Index (HPI) reported a Residential Benchmark Price of $209,000 for Moose Jaw. That's down $11,900 after being at $220,900 for two months straight."

"'After many months of prices sort of hanging in there and really flat-lining, we definitely are seeing prices drop. And I think we were watching closely to see if that will happen,' Reynar said. 'The Home Price Index did decline this month, and it's really based on that high inventory and low demand.'"