Bon Vivants, Stuck at Home During the Pandemic, Led This Latest Home Design Trend
Over-the-top home bars that rival favorite watering holes have taken hold since the pandemic, as people look to host more at home. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
An 1872 Brick Townhouse in Savannah’s Booming Victorian District
Amenities include six fireplaces, a rare two-car garage, a rental apartment and covered outdoor spaces. Read More
THE INSIDERS
Smart Kitchens Might Not Turn You Into ‘The Bear,’ But They Can Heat up Your Cooking Skills
Samsung’s head of SmartThings Mark Benson talks about the expanding adoption and usability of home automation technology. Read More
NEWS BITES
U.K. Property Investors Made 10% Less This Year
Has the peak passed? According to research from estate agency Hamptons, buy-to-rent landlords in the U.K. who sold their properties this year made 10.1% less in capital gains then landlords who sold properties last year, dropping from £105,300 (US$133,356) to £94,800. The fall off was the biggest in the North East, where sellers saw a 15.7% year-over-year drop in capital gains, tumbling from £26,400 to £22,000. “As house prices start to slip back, there are signs that the landlords looking to sell today may have missed the top of the market,” said Aneisha Beveridge, head of research at Hamptons. However, she continued, landlords who held onto their properties are likely comforted by the ongoing record-breaking rental growth. PropertyWire
Covid, Cold Winter Send Australian Ski Region Prices Up 71.7%
Alpine Shire, a region of Victoria that includes mountain resorts Mt Hotham and Falls Creek as well as surrounding ski towns like Harrietville, Bright, Dinner Plain and Ovens, was the beneficiary of a Covid-induced exodus by city dwellers seeking more space and outdoor amenities during the onset of the pandemic. But three years later, buoyed by limited supply, strong demand and a particularly robust winter, home values in the region continue their skyward trend. In April 2020, at the onset of the pandemic, the average home price in Alpine Shire was A$466,000 (US$302,505). In July 2023, the average home there cost A$790,000—a jump of 71.7% over the three-year span. realestate.com.au
Only 16% of California Households Could Buy a Home in the State
Limited supply and elevated interest rates are wreaking havoc on Californians’ ability to buy a home in the Golden State. According to the California Association of Realtors, only 16% of Californians could qualify to purchase a median-priced, single-family home in the state in the second quarter of 2023. That’s a drop from 19% in the first quarter of 2023, and down from 17% a year ago. The affordability crisis is raising concerns about the state’s ability to expand its population and economy. Nationally, more than one-third of households could afford the median-priced, single-family home, which cost $402,600. The Business Times
Actress Ashley Benson Sells L.A. Home for $9.5 Million
Actress Ashley Benson, star of the “Pretty Little Liars” series, is close to selling her historic home in Los Angeles’s Laughlin Park neighborhood for $9.499 million. Built in 1930 by architect Arthur Rowland Kelly, the 4,825-square-foot, Spanish Revival house features five bedrooms, five bathrooms, beamed ceilings, hardwood floors, a farmhouse kitchen, a movie theater, a beauty salon, a speakeasy lounge bar and a resort-like pool and spa, as well as views of downtown Los Angeles and Griffith Park. Benson stands to make a nice profit on the home, which is currently in contingent sale status, as she dropped $4.5 million on the property in 2020. Realtor.com
AROUND NEWS CORP
Tom Ford Is the Buyer of $52 Million Hamptons Estate Where Jackie O Summered [The Wall Street Journal]
House Buyers Ditch Dublin for the Good Life in Wicklow [The Times of London]
‘The Housing Market Is in Gridlock’—and Why It’s Not Getting Better or Worse [Realtor.com]
Why It Makes More Sense to Rent Than Buy Now [Barron’s]
