Negotiating for the best deal on a home can be tricky, with both sides looking to get the most out of the transaction. Read More
BY THE NUMBERS
LISTING OF THE DAY
Views from the house include Aspen’s four best-known mountains—Aspen Mountain, Aspen Highlands, Buttermilk and Snowmass. Read More
Located on the south side of Hong Kong Island, just over six miles from Central, Repulse Bay is one of the territory’s most sought-after districts. Read More
Demand for U.K. Homes Falls for the 11th Straight Month
Demand for new homes in the U.K. fell in February, the 11th consecutive month of declines, according to a survey from the Royal Institution of Chartered Surveyors in which 16% more respondents reported a drop in buyer inquiries. The data varied by region, however, with new buyer inquiries still on the rise in Scotland, Northern Ireland, and Yorkshire, but dropping in London, the South East and East Midlands. Respondents also reported a further decrease in sales but an increase in housing supply.
Nearly 8,500 Vancouver Properties Will be Subject to New Empty Homes Tax
Close to 8,500 Vancouver properties have been deemed vacant or underused—including around 2,100 homes with owners who failed to submit a declaration before the deadline—as the city prepares to impose its new empty homes tax. The tax has been set as 1% of a home’s assessed value, and aims at freeing up inventory in a tight market. “Vancouver housing needs to be for homes first, not just treated as a commodity,” said the city’s mayor in a statement.
Canberra’s Rental Stock Is on a Steep Decline
Canberra, Australia’s supply of rental units fell 27.9% year-over-year in February, according to data from Domain, while overall rental supply dropped 17.4% in the same period. Analysts attribute the change to tight lending restrictions and higher taxes for investors. The shortage of supply has driven the vacancy rate down to 0.9%, though supply in the sales market has held steady.
Will Smith’s Former NoHo Rental Lists for $11.8 Million
A 25 Bond Street condo once rented by Will Smith has listed for an asking price of $11.8 million. The three-bedroom apartment is half of what was once a full-floor condo, and has loft-like features including high ceilings and floor-to-ceiling windows as well as a custom fireplace and en-suite bathrooms in each bedroom. The other half of the floor listed for $12.9 million last May, while Mr. Smith paid $55,000 per month for the entire floor as a rental back in 2011.
Flippers Are Back and Bullish in the U.S. Housing Market
Investors in the U.S. housing market flipped more homes in 2017 than they have since 2006, turning over more than 207,000 properties, per numbers from Attom Data Solutions. In addition, 138,000 investors flipped properties, as well, representing the highest number since 2007. The average flip last year generated a 50% gross return, compared to a 28% average in 2006.
AROUND NEWS CORP
Mortgage Rates at a Four-Year High Threaten to Roil Housing [The Wall Street Journal]
Former Security Adviser Michael Flynn Selling Home to Pay for Legal Defense [Realtor.com]
Nearly 100,000 Members of Generation Z Own a Home (They’re 23 and Younger) [MarketWatch]
Sydney’s Last Original Clifftop Home Being Auctioned this Weekend [realestate.com.au]
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