Foreigners bought 45% of £5M-plus country homes in the U.K. last year, up from 28% recorded in 2016. Read More
BY THE NUMBERS
LISTING OF THE DAY
Serenissima, as it’s called, offers indoor-outdoor living. Read More
Smart devices that can keep a bad situation from getting worse. Read More
Sales of New Construction Homes in U.S. Fall
The number of sales of new construction homes in the U.S. declined in January, falling 7.8% from the prior month and 1% from January 2017. Data suggested that resale homes are averaging lower prices as the costs of land and materials increase and a labor shortage makes new homes increasingly expensive. New construction saw the largest downtick in the Northeast, where numbers were 33.3% lower month-on-month and 44.2% year-on-year. The Midwest actually saw an increase in new construction sales, up 15.4% month-on-month and 2.7% year-on-year.
Developer Sentiment High At Close of 2017
A U.S. index measuring industry positivity about apartment and condominium construction was up by seven points at the close of 2017. The National Association of Home Builders’ latest Multifamily Production Index measures the attitudes of developers and builders on the construction of affordable rentals, market-rate rentals and condominiums. A score above 50 suggests that a majority of respondents believe that conditions are improving. The 2017 Q4 number was 53.
Investors From Asia Looking Beyond London
Those from Asian countries looking to invest in European properties are increasingly looking past London to cities like Manchester, Leeds, Liverpool, Berlin and Frankfurt. Smaller spaces and the potential for greater value are becoming higher priorities for Asian buyers. A weaker pound has made secondary U.K. cities more appealing and a report from IP Global indicates that Manchester will give investors the largest returns in 2018.
Moby’s Los Angeles Home Hits Market for $4.5 Million
A Los Angeles home belonging to musician Moby has been listed for $4.495 million. Located in the Los Feliz neighborhood, the English Traditional-style five-bedroom house was built in 1926 and features period details, a new kitchen, two master suites, a spa, a secret entrance and a swimming pool over 4,644 square feet of living space. The home, which is located on a corner lot, was purchased by Moby in 2016 for $3.4 million.
AROUND NEWS CORP
U.S. Home Prices Continued to Rise at End of 2017 [The Wall Street Journal]
The Landbanking Battle Has Begun [The Times of London]
6 Epic Ways to Bungle Selling a Home [realtor.com]
Tightly Held Suburb Has Top Homes [news.com.au]