Record Level of Affluent U.S. Home Buyers Sidestepped High Mortgage Rates and Paid All Cash in the Fourth Quarter
Strong demand pushed luxury property prices up nearly 9% to a national median of $1.17 million, according to Redfin. Read More
BY THE NUMBERS
| CONTENT FROM: Chianti Classico Mansion |
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Country Mansion with Chianti Classico vineyards
Country mansion with Chianti Classico vineyards, dated year 1100, on 335-acre Tuscany organic estate, has a winery producing over 70.000 bottles per year of the finest Tuscan wines, vaulted cellars, unparalleled views, 10 bedrooms and charming country-style living rooms with fireplaces.
Unlock the Art of Tuscan Wines Now
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TRENDING TODAY
LISTING OF THE DAY
A Waterfront Florida Home Selling Amid Three U.S. Air Force Bases
Amenities include a pool, a guest suite, a bar, an outdoor kitchen and a dock with two boathouses and three lifts. Read More
REBUILDS & RENOS
She Called the Austin House ‘Classic Central Texas Early 2000s’—a Kitchen Remodel Transformed It
The homeowners turned to an online design services company when the renovation began to seem daunting. Read More
NEWS BITES
Golf Star Michelle Wie West Puts California Home on Market for $6.49 Million
Golfer Michelle Wie West is teeing up a sale on her huge Encino, California, home for $6.49 million. Just north of Ventura Boulevard, the palatial six-bedroom, seven-and-a-half–bathroom residence sits on a third of an acre. West and husband, Jonnie West, bought the place for $5.7 million in November 2021. The home’s amenities include an office and a theater with seating for eight. There’s also a guesthouse with a kitchen, family room, bedroom and bath. Realtor.com
19th-Century Mansion Could Break Price Record in Suburb of Melbourne, Australia
A restored mansion from 1882 is set to become the first A$20 million-plus home (US$13 million) in Hawthorn East, a suburb of Melbourne. Named Charlton, the impressive residence features a 14-meter-long pool, a tennis court and gardens by landscape designer Paul Bangay. It has a A$2 million to A$22 million asking range. The current record was set in 2022 for a A$19.5 million home. realestate.com.au
Low Supply and Price Hikes Plagued the Canadian Rental Market in 2023
Last year was a tough one for Canadian renters. As supply struggled to meet demand, rents in the county soared leading to the lowest national vacancy since the Canada Mortgage and Housing Corp. began tracking that data in 1988. The federal housing agency said in a report Wednesday the vacancy rate for purpose-built rental apartments was 1.5% during the first two weeks of October, when it conducted its annual survey. The national average rent for a two-bedroom apartment grew 8% to C$1,359 (US$1,010). The Gazette
U.K. Mortgage Approvals Soared by 25% in December
The number of mortgages approved in the U.K. increased by 25.6% year over year in December, according to the Bank of England’s Money & Credit data. There were 50,459 mortgages approved in December—2.3% more than November’s total—signaling that home buyers are adjusting to the still-present high mortgage rates. “These mortgage approvals offer a comprehensive snapshot as they cover not just the data of individual lenders but the wider marketplace and are a reliable indicator of future activity,” said Jeremy Leaf, a north London estate agent. The base rate has remained at 5.25% since August. PropertyWire
AROUND NEWS CORP
Nine-Figure Home Sales Are Skyrocketing. ‘Soon $100 Million Will Be $200 Million.’ [The Wall Street Journal]
This House Has More Instagram Followers Than You—and Is on Sale for £850,000 [The Times of London]
Mad for Modernist Architecture? Check Out These 8 Eichler Homes on the Market Right Now. [Realtor.com]
Commonwealth Bank of Australia Predicts House Prices to Rise by 5% to Record Levels This Year [news.com.au]
