Prices in Sudbury, Suffolk, rose the most—13.1%—while national prices rose 1.2%. Read More
BY THE NUMBERS
LISTING OF THE DAY
A contemporary take on a hacienda villa, Casa Oliver is described as being “like a small hotel that you will never want to leave,” right on the edge of the ocean at San Jose del Cabo, on the Sea of Cortez, according to its listing. Read More
Taxes on the building will likely increase, which in turn will hike your fees. Read More
Home Sales Expected to Boom in D.C., Chicago in 2018
Five metro areas in the U.S.—Colorado Springs, Colorado; Manchester-Nashua, New Hampshire; Chicago; Washington, D.C.; and Nashville, Tennessee—will have higher-than-normal home sales in the new year, according to ATTOM Data Solutions, a property data provider. The assessment is based on loan activity and other indicators from the third quarter of 2017.
New Housing Starts in England Increase for Quarter
England saw 40,000 new home starts in 2017’s third quarter, according to data from the Department for Communities and Local Government. That number is now 134% higher than the market’s March 2009 low point. Starts are up 1% from the same period in 2016 but down 4% from 2017’s second quarter. Amidst a British housing shortage, the government pledged in the 2017 budget to deliver 300,000 new homes yearly.
Leaseholds Banned for New U.K. Homes
The United Kingdom is making moves to outlaw leaseholds in new buildings. Concern about the doubling of ground rents, payments that leasees pay to the freeholder over spans of 10 or 25 years, motivated the change. The average ground rent is now £371 (US$495). The changes will have no impact on existing leasehold properties, of which there are 1.4 million.
Canada’s Housing Price Growth to Slow in 2018
Canada will see a flattening in home price values, experts say, with a predicted increase of only 1.9% in the coming year, after 8.5% growth in 2017. New laws on mortgages and a possible interest rate increase in coming months are factors likely to cool the country’s growing housing market. The country’s hottest markets, Toronto and Vancouver, will also see lower growth but will continue to outpace other cities.
AROUND NEWS CORP
The Wish List: Home Pros Pick Their Splurge Items [The Wall Street Journal]
Meghan Markle’s Million-Dollar Toronto Home Sells in a Week [New York Post]
The Hottest Real Estate Markets of 2017: Who Gained Big, Who Fell Hard [Realtor.com]
Melbourne Families Looking for New Homes up to $50 Million [news.com.au]