Sale of Sydney Mansion Logs One of the Priciest Residential Deals in Australia
A multi-million dollar waterfront mansion in Sydney, Australia, owned by a Singaporean tycoon has sold after just eight weeks on the market. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Five-Story Notting Hill, London, Townhouse Owned by an Interior Design Star
This five-story townhouse in Notting Hill is owned by interior design star Christopher Hodsoll, whose celebrity clients include Elton John, Mick Jagger, Damien Hirst, Bob Geldof, Charles Saatchi, the Rothschilds and the Duke of Edinburgh. Read More
SMART HOMES
How could you improve the best 10 minutes of any day? By adding technology, of course. From first to final drop, these smart devices will enhance any shower experience. Read More
NEWS BITES
Moody’s Expects New York Home Values to Decrease If Deductions Are Cut With its proposed cuts in deductions for mortgage interest as well as state and local taxes, the Republican tax bill could cause home prices in Manhattan to fall by 9.5%, according to analysis from Moody’s, which also suggested that Manhattan sales have recently begun to drop. Concerns about the bill also include fears that the changes might lead people to opt for living in other cities. The Real Deal
Hong Kong Government Will Reduce Release of Land Hong Kong will limit the amount of land available for purchase in the next quarter, after the amount designated for new apartments exceeded the government goal. The target number of apartments was 18,000; the government beat that by 35%, providing land for 24,300 units. Experts say that despite the new housing stock, it’s unlikely home prices will fall anytime soon and that there’s potential for them to grow as much as 10% in the coming year. South China Morning Post
England and Wales See First Home Price Increase Since March Home prices in November rose in England and Wales for the first time in eight months, according to information from the LSL/Acadata index. The 0.3% increase followed months of dropping values and resulted in an average home price of £300,859 (US$402,341). In annual home price growth, the only region not to be up was Greater London, which saw its average drop 3% down to £586,987 (US$785,4767). PropertyWire
Number of Homes Selling Before Auction Way Up in South Queensland There’s been a marked rise in the number of South Queensland homes selling before auction, according to Apollo Auctions, which reported the figure tripling in recent months. While the number of sales before auction typically hovered around 5%, it has hit 15% in the past two months. Homes in the inner-city ring in Brisbane that cost between A$600,000 and A$900,00 (US$460,000 and US$690,000) saw the biggest jump. Realestate.com.au
UAE Home Buyers Now Able to Use Shariah-Approved Cyber Currency UAE property group MAG Lifestyle Development will now allow buyers to use OneGram, the first cryptocurrency to adhere to Islamic law. The risk involved in bitcoin has made it less popular in the Middle East than in other regions, but OneGram is backed by gold and is zero interest, profit-loss sharing and non-speculative, which makes it Shariah compliant. OneGram will be available in June, and those using it to purchase properties from MAG will receive at 5% discount. Khaleej Times
AROUND NEWS CORP
No Holiday Cheer for Home Buyers: Fewer Newly Constructed Homes [realtor.com]
Housing Starts Grew In November [The Wall Street Journal]
Northern Beaches Housing Market Ends Year on a High But With a Few Twists [realestate.com.au]
We’re Still Building the Wrong Kind of Homes for Renters [MarketWatch]
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