Market Outlook (US/UK): ANZ says Australia’s housing market is in a “rebalancing phase,” with sales down 6% y/y as mortgage rates stay elevated, while supply still outpaces demand and price pressure stays capped; in the UK, Rightmove warns housebuilders face the toughest conditions since 2008, with new-build starts at decade lows. Regulation & Consumer Protection (Malaysia): Malaysia is drafting a Real Property Development Act to broaden oversight beyond housing into some commercial projects, alongside digital reforms like an eSPA and a big-data analytics platform for data-driven feasibility studies. Renters Under Pressure (California): California’s rent cap ceiling rises to 8.7% for many tenants from Aug. 1 under AB 1482, adding hundreds more per year for typical apartments. Planning & Housing Supply (UK/India): UK planning reforms will push most decisions to officers, sparking debate over democratic oversight; India’s MoHUA advised RERAs to grant four-month extensions for projects delayed by West Asia supply-chain disruptions under Force Majeure. Local Development Fight (London): Ministers approved a Brick Lane office and data centre plan despite Tower Hamlets and campaigners arguing it should deliver more social and affordable housing. International Demand (US): NAR reports foreign buyers bought $45.3B of US homes (Apr 25–Mar 26), down 19.1% in dollars and 14% in volume.