Mansion Global: Over 5 % UK Homes Really Empty, Daily

5.5% of UK dwellings are 'genuinely homeless', according to the Office for National Statistics. These vacant homes make up 1.5 million properties - a figure that calls into question the current property tax system as it is eight times the number of properties labeled as "secondary housing" (172,800). Analysts say the current property purchase tax system may discourage transactions of such vacant properties, while a permanent tax on such homes would encourage owners to put them on the market. London has the highest proportion of non-residential homes at 8%, with 91.6% empty and 8.4% being secondary homes.

The Brisbane suburb of Logan held a no reserve auction - meaning any bid was accepted - and it broke the record for the highest number of bidders, attracting more than 160 registered bidders and more than 500 spectators. "Uninhabitable junk" on Billabong Drive in Crestmead has finally been sold for AU$494,700 (US$315,094), after bidding started at AU$1.

The Hong Kong Housing Bureau estimates that new private housing in the city has reached 107,000 units, a record high for the city. The potential supply of primary private residential primary residences increased by 12,000 properties from a year ago as possible buyers remained in the public eye due to higher interest rates and turbulent economic times in the region. The total estimate, 107,000 units, is the highest recorded figure since forecasting began in 2004.

Housing rents in Dubai rose 27.2% year-on-year during the third quarter, with villa rents rising 38.7% over the same time period. Despite strong year-over-year growth and increased demand, rental prices in the city appear to be weakening. In the year to September, Dubai saw average residential rents rise by 20.6%, lower than the 21.7% recorded in the year to August.