World Paris: The prices of second-hand housing are starting to fall, after an increase in 2020
US oil and natural gas prices rise as freezing temperatures leave millions without power in Texas
WTI crude oil was trading at around one-year highs while natural gas prices spiked. Temperatures of below 4F in Texas have caused chaos for the state's energy infrastructure.WTI crude oil was up 0.52% to $US59.77 per barrel as of 6.10am ET. That was just off a more than one-year high of more than $US60.80 touched on Monday as plunging temperatures hit Texan oil plants.
The prices for second-hand housing in Paris have climbed but have started a slight decrease which could last this yearACCOMMODATION - The prices of second-hand housing in Paris have climbed but have started a slight decline which could last this year
A fall for how long?housing in Paris climbed 5.4% over one year in the fourth quarter of 2020, with an average of 10,770 euros per square meter, but began a slight decline which could continue in 2021, according to the Chamber notaries.
In the capital, "prices took a break from the 3rd to the 4th quarter of 2020, going from 10,790 euros per m2 to 10,770 euros", according to
House prices climb at highest rate for six years
Official figures show house prices rose 8.5% in 2020, the fastest annual growth since October 2014.The average UK house price reached a record high of £252,000 in December 2020, the Office for National Statistics said.
The decline "should continue in the coming months in Paris"
"After a historic record in November 2020 (10,850 euros per m2) followed by a decline, the downward trend in prices should continue in the coming months in Paris. The annual increase could be less than 1%, which has not happened since 2015, "the organization added in a statement.
"Today, the tension [on prices] is decreasing" but "when goods are at market price, sales are made without negotiation", commented during a press conference, the chairman of the Chamber's real estate statistics committee.
"Braking, initiated in Paris, is taking shape and gradually spreading to the near periphery", according to the Chamber.
Overall, according to the notaries, many elements describe in Ile-de-France "a market which is resisting, given a particularly difficult economic, psychological and social context, but which is running out of steam and weakening".
Texas Price Gouging Reported for Hotels, Food and Water Amid Storm Chaos
"This winter weather emergency is not an excuse to take advantage of our neighbors when they are vulnerable," said Travis County Judge Andy Brown.Judge Lina Hidalgo said she had received reports of "outrageous prices on necessary items like food, water and housing.
Four districts still below 10,000
Thus in Paris “prices, which increased by 8% per year in the 1st quarter of 2020, by 7.8% in the 2nd quarter and then by 7% in the 3rd quarter, were no longer 'up 5.4% annually in the 4th quarter of 2020,' according to the professional organization.
According to leading indicators on pre-contracts, in Paris, "the slightly downward movement would continue in early 2021 to leave a price per square meter expected at 10,600 euros in April 2021, down 0.4% in 3 months ". It would thus be almost identical (+ 0.8%) to the April 2020 value (10,520 euros per m2), according to the same source.
In the fourth quarter, prices per m2 range between 9,210 euros in the 19th arrondissement and 14,240 euros in the 6th, that is to say “1.55 times more expensive than the 19th” which is a “ratio historically low ”, according to the notaries.
In the 4th quarter of 2000, the most expensive district was five times more expensive than the most affordable district, recalls the Chambre des notaires.
Four arrondissements are still below 10,000 euros per m2 (12th, 13th, 14th and 20th), while four exceed 12,000 euros per m2 (Paris Center, 5th, 6th and 7th). The 6th arrondissement is the only one to exceed 14,000 euros per m2.
The Gold Coast needs 6,500 new homes a year, but where can they be built? .
The famous coastal city is fast running out of greenfield land to house its growing population, but the community is opposed to higher-density developments in the city.But with its almost 640,000-strong population expected to reach 1 million in the next two decades, 6,500 new dwellings a year will need to be built somewhere.