A report from the Globe and Mail in Canada. "Foreign buying has dropped dramatically in the Vancouver region’s real estate market three years after British Columbia introduced a tax that targets international purchases, a policy move that has helped drive down prices. The proportion of foreign buying in the region has gone from roughly one in every eight transactions before the tax, to one in every 60 this May."

"'The market previously was not being kept afloat by local fundamentals but was rather being inflated due to outside sources of money from abroad,' Josh Gordon, an assistant professor at Simon Fraser University’s School of Public Policy, said in an interview."

The Irish Times. "Property price growth has slowed to its lowest level in five years, according to a report from Davy and property website myhome.ie, which is owned by The Irish Times. The study also suggests asking prices in Dublin, the most volatile segment of the market, are now falling for the first time since 2013."

"Davy chief economist, Conall MacCoille, blamed the slowdown on increased regulation. Previously up to 20 per cent of new mortgage loans for house purchase were allowed to have a loan-to-income ratio exceeding 3½ times income. The new rule reduces this allocation; only 10 per cent of trader uppers will now be allowed a ratio of more than 3½ times. 'These factors are preventing the latent housing demand from translating into rampant house price inflation fuelled by rising leverage on mortgage loans,' Mr MacCoille said."

The South China Morning Post. "Two of Hong Kong’s biggest commercial banks have cut their valuation of pre-owned homes in several housing estates in anticipation of declining prices, after the city was rocked over the past month by a record number of street protests."

"'Valuations have dropped as a result of the political [upheaval in Hong Kong] since early June,' said Centaline Mortgage Broker’s managing director Ivy Wong Mei-fung, who provides financing services at one of the city’s largest real estate agencies. 'Home price corrected in May … the home market was downbeat and homeowners were willing to cut prices. The overall pricing of some estates fell.'"

"The last time Hong Kong’s banks cut their valuations was in October 2018, when they slashed 20 per cent off the value of secondary housing in older buildings, a move that pushed buyers who depended on 90 per cent mortgage financing into negative equity."

"Already, some of the effects are felt in the market. A house at the Palm Springs project in Yuen Long sold for HK$16.38 million (US$2.09 million) after a discount of HK$2.62 million (US$335,000), about 9 per cent cheaper than market value, according to Centaline."

From Aliran on Malaysia. "Visitors to Penang Island looking at the big corporate signboards and glossy posters dotted all over the island would be forgiven for thinking they had stumbled onto a developers’ paradise. The names of prominent well-connected developers are conspicously plastered on roundabouts and bus stops all over the island."

"But behind the illusory facade lies a more disturbing story. The flashy publicity material, complete with fake smiles, paints a fantasy lifestyle beyond the dreams of many ordinary folks. The joke going around is that many of the homes being built are not mampu milik (affordable) but just mampu tengok-je (only for public gawking)."

"The only logical conclusion is that these homes are being built for the wealthy, mainly foreigners: China and now Hong Kong seem to be the likely target markets. Nobody can say they didn’t see this massive property glut in the country coming. Driven by greed and the quest for more profits, state governments and developers refused to see the looming storm clouds."

From ABC News in Australia. "Data from CoreLogic shows almost one-third of residential properties sold in Perth between New Year's Day and the end of March went for less than the vendors had paid. 'You're looking at values in Perth that are back to levels last seen in 2007,' said CoreLogic head of research Cameron Kusher. 'So when you think about that, anyone [who has] bought since 2007 has virtually seen no growth or seen values slightly go backwards over that period of time.'"

From Stuff New Zealand. "A crisis meeting will be held in New Plymouth on Wednesday between harvesters, logging truck companies and exporters involved in the export log trade from Port Taranaki as a sudden price drop begins to hit local suppliers."

"Taranaki harvesting contractor Richard Dreaver said he had called the meeting after export log price values fell by between 30 and 40 per cent in the past fortnight. Dreaver, who employs 27 staff, including four forestry contracting crews, said his workers were stunned by the sudden developments."

"'Let's see if we can get everyone working together,'" he said. 'The port (Taranaki) looks like a ghost town.'"

"Dreaver was critical of people in the industry who should have seen the warning signs. The meeting comes on the tail of forest industry reports showing the export log price crashing due to an over supply to China. Dreaver said many in the industry are now only starting realise the repercussions."

"'It could affect people who have large loans for a long time. The line hauler had been leased to a young guy who wants to get into the industry but the price drop will hurt him,' Dreaver said. 'The bulldozer is still in my yard. A lot of guys have bought equipment on the promise of seven more years of work. Now they have been cut off.'"