A report from the Canadian Press. "An online auction for a luxury home is drawing attention for its novel approach, which some observers say has potential to inspire new sales. Scott Pate, a project sales manager with Concierge, said luxury real estate has been a buyers’ market for quite some time in both the United States and Canada and auctions are a way to give sellers more certainty."

"A real estate agent in Victoria tried the in-person auction approach in 2016 with a property in the city's upscale Rockland neighbourhood. But local media reported that although 60 people filled the room, only one was an interested buyer so the auction was cancelled. In 2017, the B.C. Supreme Court accepted a $1.8-million offer for the historic mansion in foreclosure."

"'It certainly could be a direction the market could go. In segments where the market is slow today, people will try different approaches to move product, so it's certainly possible,' said Tom Davidoff, director of the University of British Columbia's Centre for Urban Economics and Real Estate."

From In Cyprus. "Cyprus banks will put entire apartment blocks and luxury properties under the hammer this month and in April in their bid to get dues back. Foreclosures are keeping Bank of Cyprus, Hellenic Bank, Altamira, Alpha Bank and Societe Generale Bank Cyprus on alert these days and mass listings in the media are no coincidence."

From Ahval News in Turkey. "Turkey’s state-run construction giant TOKI is cutting the prices of some new apartments and workplaces by 22 percent as a result of a persistent downturn in the housing market. The reduced price will apply to buyers who have already signed deals to buy housing and started payments by the end of last year, Karar newspaper said citing a statement by TOKI."

From Mansion Global on Ghana. "Cantonments, a luxury suburban neighborhood in Accra, which is the capital and largest city of Ghana, possesses a distinct diplomatic air. In the last five years, Cantonments has experienced rapid development, which, according to Delores Sekyere, CEO/managing director of Ghana Prime Properties , has led to a glut of properties."

"Prices for luxury townhouses range from US$500,000, which is the starting point for a three-bedroom unit, according to Sekyere. 'Because of the oversupply of properties, prices will begin to fall,' she said. 'Most of the people who live here are renting; there are not many people other than Ghanaians who have enough confidence to buy because the prices are high.'"

The Bangkok Post in Thailand. "Condominium end-user buyers are smiling this year, as developers concentrate on clearing completed but unsold inventory in response to weaker demand, partly due to stricter Bank of Thailand mortgage requirements for buyers of second and third homes."

"As a result, the residential market this year will be more driven by end-user demand, with fewer investors or speculators than in recent years."

From Domain News in Australia. "Sellers trying to find buyers for $2 million-plus Melbourne homes in Melbourne had mixed results at weekend auctions. The wait-and-see approach of many prospective buyers reflects concerns that house prices could fall further."

"Buyer advocate Nicole Jacobs said there was no urgency to purchase in some areas and even high-quality properties were not attracting bids at auctions. Typical of this trend was 36 Imbros Street, Hampton, which was passed in by Buxton on a $2.85 million vendor bid on Saturday."

"'It was a really lovely home in one of Hampton’s best pockets and I believe there were buyers there,' Jacobs said. 'In this market, people are deciding to wait and negotiate later. Everybody thinks that there is zero urgency.'"

"Many higher-priced properties were originally listed for private sale on elevated price quotes late last year, she said. Asking prices were later dropped significantly, but buyers expected further cuts. 'The price drop isn’t meeting the market, and buyers are saying ‘no’. People are waiting for it to drop further,' Jacobs said."

From Money Morning New Zealand. "In the world of housing, New Zealand sits upon a mighty throne. We roost among some of our planet’s most inflated…most at-risk…most over-valued housing markets in existence. Sharing our high stage are countries like Canada, Hong Kong, Australia, Sweden and Great Britain."

"It’s a fun group. We sit around laughing and toasting to our great housing returns. We look down upon the rest of the nations, tottering about with their 1% or 2% annual gains. ‘Peasants,’ we scoff."

"We announce that, thanks to the housing market, New Zealanders will soon be able to stop working altogether. Their homes will earn more than they ever could. Jobs, schmobs. Just lie out in your hammock and enjoy the sun while the equity rolls in…We’re having a good ol’ time, filled with debauchery and joy."

"But suddenly, Canada sneezes…Then Great Britain…then Sweden…then Hong Kong. We look nervously at Australia…’Don’t do it. Don’t do it.’"

"The Aussies sneeze."

"In housing, we’re seeing our peers starting to look a bit green. Our brothers in Hong Kong are seeing rents drop by double digits annually, with analysts predicting a 40% freefall within two years. Our syrup-sipping friends in Canada have seen home resales drop by 43.5% year-over-year. And they’re especially nervous as Toronto and Vancouver hold the third and fourth most at-risk cities in the world, according to UBS."

"London house prices are falling for the first time since 2009, with a looming Brexit around the corner to trigger a full-scale fire sale. And sunny Sydney — plus its equally plump sister, Melbourne — has seen prices slip for 12 months in a row. It’s on track for a 20% fall in the coming months, according to AMP Capital Chief Economist, Shane Oliver."

"So while our friends are getting woozy, clutching their chests and gasping for air, we Kiwis close our eyes and repeat, ‘There’s no place like home. There’s no place like home. There’s no place like home.’"

"We picture our multimillion-dollar, one-bedroom, no-bath beach houses on the Coromandel. We think hard of our $1.36 million shed in Kingsland. ‘We’re special. Our houses go up by 10% every year. Like clockwork. No 'ifs,' 'ands' or 'buts' about it.’"

"Australia rolls her bloodshot eyes, ‘You’re coming down with us…just a matter of time.’"