Mortgage Rates Drive All-Cash Purchases to Nine-Year High
One in three U.S. home buyers chose not to finance in April. Read More
BY THE NUMBERS
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Why CFOs Can Benefit From Dynamic Finance
The principles of dynamic finance can help organizations become more streamlined, responsive and quick to deliver change. It’s about having simplified, standardized processes, a foundation of enabling technologies and a skilled workforce. Here’s a summary of seven core principles and how they work in practice.
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TRENDING TODAY
MANSION GLOBAL BOUTIQUE
Real Estate Bigwigs Pick Their Favorite Father’s Day Gifts
We asked some of the most notable people in real estate to browse the Boutique and pick their favorite items for all the dads in their life. From a high-end juicer to a foot massager, these gifts are perfectly fit for the king of the family—and available on the Mansion Global Boutique. Read More
LISTING OF THE DAY
An Over-the-Top London Flat Lives Like an Italian Palazzo
The property has high, ornate ceilings and antique-style interiors created by the Milanese firm Studio Peregalli. Read More
DESIGNER’S CORNER
Designing a Pool That Makes a Splash
A freeform approach, a sunken sundeck or a mosaic floor can add a unique touch. Read More
NEWS BITES
Annual House Price Growth in the U.K. Turns Negative for First Time in Almost 11 Years
For the first time since December 2012, the U.K. reported an annual decline in house prices last month. House prices fell 1% on average in May, according to Halifax. The average house price remained the same from April to May, staying at £286,532 (US$356,660). Kim Kinnaird, director at Halifax Mortgages, attributed the annual decline to last year’s strong house prices. “Prices are still £5,000 up since the end of last year, and £25,000 above the level of two years ago,” Kinnaird said. Yahoo Finance
California Home Sales Dropped 36% Annually in April
Home sales in California dropped 36.1% during April, while the statewide median home price surpassed $800,000 for the first time in six months, according to the California Association of Realtors. Sales also slowed on a monthly basis, dropping 4.7% from March to April. Closed sales of single-family homes totaled a seasonally adjusted annualized rate of 267,880, marking the seventh consecutive month that California home sales were below a 300,000-unit pace. The median home price of $815,340 was 3% higher than it was in March. The World Property Journal
Sydney Suburb Home Sells for A$70 Million, More Than Doubling Its Last Sale Price
A historic Queen Anne-style estate in the Sydney suburb of Bellevue Hill sold last week for a rumored A$70 million (US$46.6 million). That’s more than double the price of what it last sold for—the head of Chinese wealth management service Noah Holdings, Wilson Lee, paid A$30.8 million for it in 2015, a record for the suburb at the time. The buyer this time around is flower business mogul Leo Lynch. Built in the 1890s, the grand mansion has eight bedrooms, eight bathrooms, a tennis court and a pool. realestate.com.au
Former Snapchat Exec Snaps up Brand New Beverly Hills Mansion
Former longtime Snap Inc. executive Jacob Andreou has a new home in Beverly Hills, California. Andreou, now a general partner for the venture capital firm Greylock, and his wife, former “Entertainment Tonight” host Carly Steel, paid $14.4 million for the 2022 build that has yet to be lived in. Sitting on a little more than a quarter of an acre, steps from Rodeo Drive, the contemporary home has seven bedrooms, 10 bathrooms and nearly 9,500 square feet of living space. The home was originally listed a year ago for $16.8 million. Dirt
AROUND NEWS CORP
A $50 Million Lake Austin Compound Could Become the Priciest Home in Texas [The Wall Street Journal]
Why Buyers Should Give Overlooked and Unloved Homes a Shot [Realtor.com]
How Barcelona Became Home to the Super-Rich [The Times of London]
Filmmaker Highlights Reality of Buying a House in 1983 Versus 2023 [news.com.au]
