A report from CBC News in Canada. "The days of cut-throat competition in Toronto for an affordable rental unit — or any unit, for that matter — are gone, at least for now. Pauline Lierman, director of market research for Urbanation, says the change in the rental market is unprecedented, and the trend could continue into 2021 as more newly built units come online— approximately 20,000 by the end of the year."

"She cites a slowdown in immigration as a factor, both with permanent residents moving to the Toronto area and students coming from abroad, as well as students who have chosen to move home as their classes move online. 'There might [also] be people … leaving the city,' she said."

The Regina Leader Post in Canada. "Regina’s rental market hit a 30-year high vacancy rate according to the City of Regina’s 2019 Annual Housing Update, while the price of buying a home has levelled off recently, but is now trending down according to the report. Coun. Andrew Stevens (Ward 3) sought clarification on how the city planned to address a 'market failing' of record high vacancy rates but low vacancy rates in affordable housing."

"'Something seems to be disconnected here. Why do we keep bringing new housing units online if we have massive vacancy rates?' asked Stevens who followed by asking if there was some way to get people into existing vacant units."

From BBC News in the UK. "The UK's biggest building society has tripled the minimum deposit it will ask for from first-time buyers. Nationwide has reduced the proportion of a home's value that is willing to lend from 95% to 85%. So for example, if a property costs £100,000, a new buyer would now need a £15,000 deposit rather than a £5,000 deposit. Nationwide is saying that it is time to 'protect' us from risking too much to get a dream home."

"Emma Harvey, mortgages director at MoneySuperMarket, said: 'It's getting harder to borrow money to buy a house, as providers look to limit risk in these uncertain times, and Nationwide is the latest example of this. In addition, there are also fewer mortgage products out there to choose from. For example, whilst 90% [loan-to-value] mortgages were commonplace at the start of 2020, only a handful of lenders are still offering these, and even then only with restrictions.'"

From ENCA on South Africa. "Recent research by trends organisation New World Wealth shows at least 10 of the 12 most expensive locations in South Africa are in the Western Cape, but sellers in these opulent areas are having to accept offers much less than the original asking price. Political and economic uncertainty in the country is said to be behind the drop in prices – especially in areas on the Atlantic Seaboard. The burden of spending close to R50,000 per month on maintenance is one of the reasons people are selling."

"'The market has been on a steady decline since the high of 2015-17, and with the effect of COVID-19 we are seeing a 50 to 80 percent decrease on prices across the board,' said Devon Tame, a property agent."

The Dhaka Tribune in India. "The house rent situation in Dhaka has scaled down significantly following the pandemic. Like the tenants, many house owners are also in trouble as they cannot find tenants to fill their vacant flats. Without tenants paying rent, they now need to bear all expenses related to their vacant properties. Majeda Khatun, who owns a four-storey building and few tin-shed rooms in Poolpar of West Dhanmodi of Dhaka, has been searching for a tenant for one of her two-room flat what earned her around Tk14,000 a month."

"'I thought I could rent it out for lesser price than earlier. But, people are not even responding to the ‘To-let’ sign hanging on the building for the last four months,' she said."

The Khmer Times. "Cambodia’s commercial and residential rental market is currently experiencing very high levels of oversupply, particularly for properties traditionally marketed to foreigners, according to industry experts. Khmer Times has already been made aware of properties located in Phnom’s Penh’s popular expat locations of Daun Penh (Riverside) and Tuol Kork (Russian Market) that are now being advertised for 30 percent off their previous monthly price."

"In addition, many foreigners who now don’t want to sign long-term leases are instead choosing to live in short term hotels, with monthly hotel rates being slashed in excess of 50 percent in some circumstances. 'We are now offering $100 a month dorms that we previously sold for $8 a night,' said the manager of a hostel along Phnom Penh’s riverside."

From Domain News in Australia. "The number of properties sitting vacant across Sydney is at a record high, new research has revealed, as the rate of empty CBD properties tops out at 16.2 per cent. Sydney’s residential vacancy rate is the highest on record since 2005, SQM Research showed. There are now 29,416 properties sitting vacant across Sydney."

"'There’s more choice for tenants but it’s a very tough time for landlords right now,' SQM Research’s managing director Louis Christopher told Domain."

"Vacancy rates in the CBDs of each capital saw Sydney lead the way with 16.2 per cent of rentals vacant, up from 13.8 per cent in April. In Brisbane, 13.3 per cent of rentals sat empty, while 9.3 per cent were vacant in Melbourne’s CBD."

"'These areas like the inner city and holiday areas have definitely been hit the hardest,' Mr Christopher said. 'Business trippers and holidaymakers have been using Airbnbs in the inner city because they want to be where the action is. That has dried up with the border closures and caused a significant rise in the CBDs.'"

The Sydney Morning Herald in Australia. "The risk that off-the-plan apartment buyers will pay more than the property is worth at settlement has increased as prices continue to slide. Lenders value a property at completion and, if the valuation is lower than the contract price, the loan may be refused or the buyer asked to provide a larger deposit. Adding to the settlement risk is mounting job losses, which may leave some buyers contracted to buy apartments for which they are unable secure finance once their unit is completed."

"Off-the-plan apartment buyers who are unable to settle contracts could lose their deposit of tens of thousands of dollars – typically 10 per cent of the purchase price. They could also be sued by the developer to recover any difference between the original contract price and what the developer eventually receives from another buyer."

"CoreLogic says for the three months to the end of May that of the 3389 off-the-plan unit valuations across Sydney, 52 per cent were lower than the contract price. During the same period in Melbourne, there were 4173 valuations for off-the-plan unit settlements, with 51 per cent lower than the contract price."

"Otto Dargan, managing director of mortgage broker Home Loan Experts, says he is seeing clients who are not only facing lower valuations for their off-the-plan units but are also struggling financially because their income has fallen dramatically."