A report from Toronto Storeys in Canada. "Back on the market for the second time this summer, this 409 Bloor Street East penthouse offers incredible views inside and outside. It’s no wonder this sweet suite is priced at $4.1 million. What is a wonder, however, is how this is the sixth time the glam property has hit the market since last June, and the second time it’s seen a massive price drop in one year. On June 20, 2019, the place was listed for $6.2 million, and was removed on August 7. It went back up for the same price for just one day, before being removed again."

"On September 5, the penthouse was re-listed; this time, it went live asking $4.9 million. October 3 saw another removal and re-list, which lasted until another removal on January 15. As warmth descended upon Toronto, the penthouse was posted again, asking $4.9 million from June 16 to July 16, when it was removed once more. The $4.1 million ask is new to the most recent August 31 posting."

From CTV in Canada. "Rental prices have dipped and landlords are facing stiffer competition for tenants in Canada's two hottest housing markets in the fallout from the COVID-19 pandemic. Toronto broker and landlord Davelle Morrison said short-term rentals, such as Airbnb units, are entering the long-term mix as the pandemic continues to restrict and deter travel. 'We're finding that (rental units) are sitting on the market a lot longer and my clients are having to bring their rental prices down in order to generate any interest for their particular condo,' said Morrison, adding she recently listed a unit she owns for the same price she set two years ago."

The Daily Telegraph in Australia. "The weaker inner city unit market was largely the result of landlords struggling with long-term rental vacancies. My Housing Market economist Andrew Wilson said the falling rents would encourage more investor owners to sell units but, with fewer other investors in the market to buy them, many would struggle to attract buyers. This would force investor to make further price cuts. 'The inner city unit market is Sydney’s weakest and will probably remain so until international travel restrictions are lifted,' Mr Wilson said."

"Inner Sydney has become a fertile hunting ground for bargain hunters as panicked investors try to offload apartments at lower prices in the hope of speeding through sales. Apartments in the CBD and surrounds have recently been listed at more than $250,000 below the prices they were listed at before the pandemic hit, with some listed as 'must be sold' or 'urgent sale.'"

"The deals have come as sales data revealed unit prices in the region dropped by an average of 8 per cent over the past three months. Advertised unit prices in the CBD were also about 15 per cent lower than a year ago, according to SQM Research’s Asking Prices Index."

From Domain News in Australia. "The number of vacant rentals in Melbourne has skyrocketed, with properties flooding the market and causing a spike in empty listings of 20 per cent last month alone, new data shows. New data from Domain has laid bare the impact of the stage four lockdown on the rental market, revealing the portion of available, empty rental properties is up by a whopping 140.7 per cent compared to the same time last year."

"NAB chief economist Alan Oster said vacancy rates in Melbourne could rise further given the high number of vacant properties available, which essentially takes competition out of the rental market. Asked if investors were more likely to sell, he said: 'I don’t know is the short answer. You hear some horror stories about the number of units that are vacant in the CBD. I think you just have to wait and see. Foreigners not coming, kids not at university – all those things are probably not leading in the right direction,' he said."

The South China Morning Post. "China’s biggest developers are likely to step up price discounting this year to clear a growing pile of unsold homes, with authorities sounding another alarm in their deleveraging campaign to pre-empt any financial shock to the economy."

"Completed but unsold homes amounted to 480 million square metres (5.16 billion square feet) across 100 mainland cities at the end of July, according to data compiled by E-house China Research and Development Institute. That’s a 7 per cent increase from a year earlier, and the highest level of inventory since November 2019."

"'Developers will offer more discount campaigns to ease inventory pressure and shore up their cash levels as fast as possible,' said Yan Yuejin, director of the Shanghai-based institute. 'Home developers are in a fierce competition to lure buyers in the second half.'"