Australia’s Housing Market Is Finally on the Rebound
Home prices ticked up 0.5% in April, the second consecutive monthly increase following the market’s sharp downturn. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
It’s Martian Living at This Unusual Southern California Home
The one-off, adobe house in Joshua Tree has a pioneering amorphous design that looks like something from a fantasy or sci-fi movie. Read More
SMART HOMES
Smart Grills Perfect for Summer
Become a barbecue rock star with the aid of smart technology. Read More
NEWS BITES
Henry Ford’s Former Home Is on the Market in Michigan
In the Detroit suburbs, a Mid-Century Modern house once owned by Henry Ford is on the market for $459,900. Built in 1940, the 2,350-square-foot home in Clarkston sits on a picturesque 4 acres and has stone details, coffered ceilings, a screened-in porch, period double-pane windows and a wood-burning fireplace. According to the listing, plans have been created for the property to stay within its footprint or double in size. Detroit Metro Times
China Expected to Assist Its Slumping Property Market
The Chinese government is likely to continue rolling out incentives to help support the country’s struggling property sector, according to analysts. With home-buyer confidence falling—a result of a sluggish economy and growing unemployment rates—preliminary sales numbers for April “look so-so,” said Raymond Cheng, managing director of CGS-CIMB Securities. “Given that property is one of the key pillars of the Chinese economy, we believe that there are more supportive measures to come in the rest of the year if sales for the sector remain weak.” South China Morning Post
Australian Cabin on 175 Acres Sells for A$1.5 Million
In rural Queensland, Australia, surrounded by forest and bushland, a compact cabin has just sold for A$1.52 million (US$1.01 million). The timber shack in Elaman Creek, in the Sunshine Coast Region, sits on 175 acres and can be transported around the property. With off-grid power and a composting toilet, the house is described as the ultimate “hinterland weekender” that offers “total privacy and seclusion.” Domain
Older Brits Hold Majority of the U.K.’s Housing Wealth
In the U.K., people over 50 hold 78% of the nation’s privately held housing wealth, according to research from Savills. In particular, it’s those over 65 who are richest in real estate, with housing owned by the group valued at £2.735 trillion (US$3.411 trillion), £2.038 trillion of which is mortgage free. “While falls in mortgaged homeownership among younger households have abated over the past five years, older households have benefitted from the bulk of growth in housing wealth over the past decade,” said Lucian Cook, head of residential research at Savills. Evening Standard
AROUND NEWS CORP
Mike Myers Puts New York City Penthouse on the Market for $20 Million [The Wall Street Journal]
Palm Beach—the Hot Destination for Rich Brits and Ex-Presidents [The Times of London]
Real Estate Photographers Reveal the One Listing Photo That Can Make—or Break—a Sale [Realtor.com]
Data Reveals Sacrifices Aussie Homeowners Are Making to Make Ends Meet [news.com.au]
