Asheville Was Already Cool—Now It’s Luxe
The mountain lifestyle on western North Carolina, a vibrant arts scene in Asheville, and relative affordability for high-end homes have sent demand soaring. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
Call the King Your Neighbor at a Late Georgian Townhouse Moments From Buckingham Palace
Owners of the six-level home added a touch of Japanese influence, with a traditional wooden bathtub and meditative gardens. Read More
THE INSIDERS
Think of Light Fixtures as ‘Large-Scale Jewelry,’ Says Designer Scott Richler
His lighting and furniture company, Gabriel Scott, has attracted celebrities from Drake to Kylie Jenner. Read More
NEWS BITES
Luxury Home Prices Outside of London Are Slipping
Is the escape to the country over? The pandemic-induced property push to regions outside of London appears to be waning as elevating interest rates are taking a bite out of luxury country home prices. According to analysis by estate agency Savills, the average value of luxury homes (the top 5% to 10% of the market) outside of the capital fell 1.5% in the second quarter from the previous quarter, and were down 3.5% year-over-year. The cause of the slippage? Rising interest rates are forcing sellers to cut prices in a bid to tempt buyers who must now contend with hefty mortgages. Despite the recent declines, the outside-of-London luxury home market still has an average value increase of 12.1% since March 2020, when the first pandemic lockdowns were enacted. City A.M.
Bath Named Best University City for Landlords in the U.K.
Bath landlords are receiving top marks from students. According to a survey from price comparison service Uswitch, student tenants gave Bath rental services 4.45 stars out of five across 3,687 reviews, with 31% of respondents saying they have not had any disputes with their landlords, and 52% of respondents indicating that they believe their landlord would be open to negotiation due to the current cost-of-living crisis. Plymouth snagged the No. 2 spot with an average rating of 4.45 across 2,962 reviews, followed by Bristol, with an average review rating of 4.44 over 7,117 reviews. PropertyWire
Industry Experts Warn Another Rate Rise Could Force Distressed Sales in Australia
The latest Finder.com.au monthly Consumer Sentiment Tracker, a survey that consults 30 economists and property market analysts, has found two-thirds of industry experts warning that a further rise in interest rates could push a sudden and steep rise in the number of distressed property sales, as home owners struggle with unwieldy home loan burdens. The poll also found that 41% of Australian mortgage holders struggled to make their payment in June, the highest proportion since the monthly report began tracking the figure in 2019. realestate.com.au
Former NBA Star Stephon Marbury Lists New York Home for $3.3 Million
Former New York Knicks staple and current head coach of the Beijing Royal Fighters in the Chinese Basketball Association, Stephon Marbury has listed his mansion in Purchase, New York, as he applies for permanent residence status in China. “Starbury,” as he was nicknamed in his playing days, is not looking to score a huge profit on the property he purchased in 2004 for $3.2 million, listing the six-bedroom abode for just $3.3 million. The home includes an office, a media room, a sizable lawn, a pool and two garages with parking for six vehicles. Realtor.com
AROUND NEWS CORP
Pulitzer Prize-Winning Poet’s Childhood Home in Georgia Asks $4.9 Million [The Wall Street Journal]
6 Ways to Decorate With Lavender at Home in 2023 [The Times of London]
How the Housing Market Puts the Fed in a Bind [Barron’s]
14 Sneaky Staging Tips for Selling a Small Home [Realtor.com]
