Pink Floyd’s David Gilmour Now Asking £10 Million for Seaside English Estate
The musician and his wife, best-selling author Polly Samson, have chopped £5 million off the price tag and are no longer including a custom-built recording studio in the sale. Read More
BY THE NUMBERS
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HOME OF LEGENDS
Within these historic walls, discover a new and inspiring home as the Old War Office is reborn as The OWO. Experience the finest in service & style at Raffles Hotel & Residences, unparalleled culinary experiences and a transformational spa.
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TRENDING TODAY
LISTING OF THE DAY
‘No Road Noise, No Pylons,’ 100 Acres of Woodlands Surround This English Estate
Historic Corn Mill Farm, which underwent a recent renovation, comes with a tennis court and an indoor pool. Read More
DESIGNER’S CORNER
Rugs Are Getting Loud, From Freeform Shapes to Bold Snakes
Decorating experts describe the latest trends, many of which play into the boom in maximalist interior design. Read More
NEWS BITES
Students Built the First Legal 3-D-Printed House in L.A. in Just 15 Months
Woodbury University architecture students have designed and built the first permitted 3-D-printed home in Los Angeles. The small house—it spans just 425 square feet—is constructed out of concrete and features a covered porch and a sloping roof. From initial design to construction completion, the home went up in just 15 months, and it was built to prioritize environmental concerns. The home is still in need of some drywall, exterior features and a certificate of occupancy to be declared fully completed. Los Angeles Times
Victoria, Australia, Announces Airbnb Tax in Effort to Expand Housing Supply
The Victorian government has set a target to build 800,000 new homes over the next 10 years, and part of its plan includes a new tax on short-term rental properties. The 7.5% tax is the first of its kind in Australia. The tax revenue will go to Homes Victoria for building and maintaining affordable housing across the state. Proptrack senior economist Paul Ryan said the tax will reduce the competitiveness of short-term rentals, like Airbnbs, and could likely push some of these property owners to either turn their homes into long-term rentals or sell. realestate.com.au
Despite High Rates, U.S. Sees an Uptick in Mortgage Applications
U.S. mortgage applications increased 5.4% from the previous week during the week ending Friday, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. “Mortgage applications increased last week, despite the 30-year fixed rate edging back up to 7.3%—its highest level in four weeks,” said Joel Kan, MBA’s vice president and deputy chief economist. “Refinance applications also increased last week but are still almost 30% lower than the same week last year.” The refinance index was up 13% from the previous week. World Property Journal
U.K. House Prices Rose in July While London’s Dropped
The average U.K. house price rose 0.6% annually in July to £290,000 (US$359,643), according to the Office for National Statistics. Meanwhile, London house prices dropped 0.8% year over year, with the average home costing £534,000. However, house prices in London did increase from June to July. Despite the annual drop in prices caused by surging mortgage rates and less buyer interest, London remains the most expensive region for homes in the U.K. More recent reports, like one from Halifax, show London home prices fell even more during August, as sellers are being forced to cut prices to lure in buyers. City A.M.
AROUND NEWS CORP
Inside the Atlanta Condo Elton John Is Listing for $4.995 Million [The Wall Street Journal]
Is Dubai Heading for Another Property Crash? [The Times of London]
What Did It Take to Sell This House? Turning Major Baggage Into a Moneymaker [Realtor.com]
This Hamptons Home Is Asking $3.2 Million—After Selling for $2.6 Million in June [New York Post]
