Whether they get it depends on the property’s location, its market cycle and other factors. Read More
BY THE NUMBERS
LISTING OF THE DAY
The private lot has terrific mountain views and is within a mile of downtown. Read More
Just east of Seattle sits Bellevue, the fifth-largest city in Seattle’s metropolitan area, and with waterfront access, leafy neighborhoods and cosmopolitan restaurants and boutiques, it attracts buyers looking for the total small-town package. Read More
Two New Zealand Regions Saw Property Prices Decline in September
Auckland and Nelson were the only New Zealand regions that didn’t see property price increases in September, per the latest index from the Real Estate Institute of New Zealand. Nationally, the median price rose by 3.9% year over year up to $530,000, but Auckland saw a 3.2% decline (down to $850,000) and Nelson decreased 6.8% (down to $447,500). Auckland’s decline is thought to be a result of high inventory levels for apartments.
Push for Chinese Buyers in New Zealand Causes Controversy
New Zealand’s Housing Minister Phil Twyford is concerned about property website Juwai.com’s upcoming promotional campaign for Chinese buyers to snap up property in New Zealand ahead of an upcoming government crackdown in foreign buyers. “This just confirms the need to ban the purchase of existing houses by overseas speculators. The Labour-led Government will put that ban in place within our first 100 days in office,” Mr. Twyford said. Juwai’s campaign will run from Dec. 1-31.
A Waterfront Home in the Georgica Neighborhood of the Hamptons Asking $16.5 Million
A 6,500-square-foot five-bedroom home in Georgica has hit the market with an asking price of $16.5 million. The home sits on 2.6 acres and has 200 feet of direct water frontage on Georgica Cove. The property includes a Har-Tru tennis court, heated pool, spa, private dock, and attached three-car garage.
Wynwood/Edgewater Leads Miami for Multifamily Developments
An analysis of building permits in Miami neighborhoods shows that the Wynwood-Edgewater-Midtown area has the most development currently underway, due to four new projects with 727 units. Downtown Miami had the second highest volume, with two projects and 673 units currently in the works. South Florida’s multifamily construction on the whole has increased in the past two years, hitting a seasonally adjusted rate of 596,000 apartments under construction in September.
The Number of New Homes in England Is Nearing Its 2007-2008 Peak
From 2016 to 2017, 217,350 new homes came on the market in England, bringing the total close to the 2007-2008 peak of 223,530. Following the financial crisis, the number of new homes being built declined by almost half. The robust current figures still fall short of the 250,000 homes per year experts say Britain needs to build in order to appease the current housing crisis.
Bank Loans Decline in Shanghai in Response to Slowing Demand
For the first time in 2017, bank loans to developers in Shanghai recorded a month-to-month decline in October, falling by 3.6 billion yuan (US$542 billion). Mortgages slowed as well, to only 6 billion yuan (US$905 million) more loans given than the previous month, compared to a 26.1 billion yuan (US$4 billion) growth in September. The declines are attributed to lack of supply that’s resulted from recent government cooling measures.
AROUND NEWS CORP
Three Adjacent Manhattan Townhouses Go On the Market [The Wall Street Journal]
A Grand Design to Mend the Market [The Times of London]
Renting Is Better Than Owning to Build Wealth—If You’re Disciplined to Invest as Well [MarketWatch]
This Has Got to Be the Craziest Kitchen in New York City [New York Post]