A report from the Financial Post in Canada. "Internal mid-month statistics for June from the Toronto Real Estate Board show average prices in the Greater Toronto Area shed almost 6.4 per cent in just two weeks with sales down about 50 per cent from a year ago. The average home sold for $808,847 from June 1 to 14 — a sharp drop from the average of $863,910 for May. The peak of the market in Canada’s largest city now appears to be in April when the average price soared to $920,791, the same month that Ontario brought in its 16-point Fair Housing Plan, which included a 15 per cent non-resident speculation tax. Average prices have now declined just over 12 per cent from the peak but Craig Alexander, chief economist of the Conference Board of Canada, said it might not be the measures themselves that have cooled the market as much as the perception of their impact."

"'I don’t think that many buyers have been pushed out of the market,' said the economist. 'One of the biggest effects of tighter government regulations is that it creates a psychological response by potential sellers and potential buyers. It ends up like a wait and see approach. If everybody waits and sees what happens, you get a significant pullback.'"

From First on Ultra on India. "With IT sector witnessing subdued sentiment amidst pressure on hiring and annual pay rise for employees, the country’s software and services hubs such as Bengaluru, Hyderabad, Chennai, Pune and Noida-Gurgaon in NCR are expected to see 10-20 per cent reduction in the housing rents over the next three quarters, according to an ASSOCHAM paper. 'The IT and other services like financials are among the sectors which pay well. Besides, the age profile of these employees is quite tempting for the marketers. They are good spenders and want good life. These factors kept the markets for rentals pushing up, especially in gated and well-equipped housing complexes and societies in Bengaluru, Gurgaon, and Hyderabad. There is certainly a pause visible,' ASSOCHAM Secretary General Mr D S Rawat said."

"In any case, the markets for real estate has gone down in major micro markets owing to a combination of factors. With a large inventory of even ready flats which would be available for use in the next few months, the supply for the rental markets would further improve."

The China Economic Review. "Chinese real estate developers find themselves squeezed by government curbs on bank lending that aim to deflate the housing bubble, as well as a regulatory campaign to force the financial sector to deleverage and improve risk controls. According to Caixin, one by one, regulators have restricted the sources of funding available to builders. Now, with even the costliest and riskiest form of borrowing - via trust companies - under scrutiny, companies are running out of options."

"The government began to restrict the flow barely a year after it opened the spigot in the second half of 2015, when it was making an effort to revive investment in property development following its collapse during the previous round of tightening. But issuances collapsed again this year - with just 152 billion yuan of bond sales as of June 15, down from 614 billion yuan over the same period last year, Wind data show."

From Asia Times on China. "Employees in loans divisions in China’s banking industry are facing increased pressure after interest rates were raised, making it harder for them to approve loans and make commissions on already low wages. 'Our basic salary is only 2,000 to 3,000 yuan per month, so we have to depend on commissions,' said a client manager in a commercial bank. 'Most client managers saw a significant drop in their volume of loan operations, so it is quite common that many of us fail to maintain our previous wage levels.'"

"Banks have cut the monthly quota on housing loans and increased interest rates amid tightening credit policies. 'If you want to make a loan, better do it now,' said a client manager at one of the four giant state-owned banks. 'It’s uncertain if there will be any quotas next month and the lending rate could probably see a 10% rise from the benchmark by then.'"

"The China Securities Journal reported that China Merchants Bank, Industrial and Commercial Bank of China, China Minsheng Bank and China Guangfa Bank had all raised the interest rate above the benchmark on first home loans. While some branches of Ping An Bank and Industrial Bank have stopped issuing housing loans."

From Your Property Investment in Australia. "Housing finance and credit data released earlier this month by the Australian Bureau of Statistics (ABS) and the Reserve Bank of Australia (RBA) make it clear that investor interest in the housing market is starting to decline. Philippe Brach, CEO at Multifocus Properties & Finance, believes it’s the current climate of uncertainty that is causing many property investors to hold back and wait for the market to stabilise."

"'I believe it’s the uncertainty that has been created with the banks changing their lending policies every five minutes. It’s pretty much on a daily basis,' he said. 'You almost need a full-time guy in your mortgage broking office to keep up with all the changes that the banks are putting together. Every day, we get three to four press releases outlining the latest changes. Banks are raising interest rates and some are changing their assessment standards. This is causing investors to hold back.'"

From Domain News in Australia. "Sydney’s housing market has reached a turning point, with buyers no longer willing to match sellers’ expectations, according to a leading sales agency. The 'seasonal impact' of winter and higher interest rates for investors were having a 'double whammy effect' on auction clearance rates, said Domain Group chief economist Andrew Wilson. This was then being compounded by 'extraordinary numbers' of sellers going to auction. 'We have never seen auction numbers at this height – was a record May and it will be a record June. It will have an impact,' he said."

"In a note to sales staff BresicWhitney director William Phillips said it was 'clear that we have entered a new phase in the market.' He said it was an 'opportune time to sell.' 'What might seem like a disappointing price today might be market value or a great escape in three months’ time,' Mr Phillips said."