Convenience and Views Are the New Amenities in Sydney
A growing number of homeowners in Sydney’s prestige suburbs are trading in their large homes and quarter-acre blocks for an inner city sanctuary with all the trimmings. Read More
BY THE NUMBERS
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LISTING OF THE DAY
A ‘Desert Contemporary’ Just Outside Las Vegas
An outdoor pool, yoga garden and fire pit were designed to create a space ideal for both relaxation and entertaining. Set 1,000 feet above the Las Vegas Valley, there are views of the Valley and the world-famous Las Vegas Strip. Read More
DESIGNER'S CORNER
Blank walls, are well, just blank walls. But to truly bring a space to life, consider creating a gallery wall. Read More
NEWS BITES
Los Angeles Home Prices Continued to Rise in August The median sales price in Los Angeles reached $580,000 in August, setting a new record for the fifth month in a row and marking a more than 9% increase from the previous year, according to CoreLogic. Transactions were also high, and the number of homes sold rose 15% month over month and 4% year over year. The growth is driven by activity in the upper end of the market, said CoreLogic, as tight supply is still stymying the middle and lower end in spite of high demand. Curbed Los Angeles
London Brokers Aren’t Optimistic About Growth Post-Brexit Estate agents in London aren’t seeing light at the end of the tunnel for the capital’s sluggish market. "The Brexit vote was what kicked the ball off but since then we’ve had a number of stumbling blocks [...] There is nothing on the horizon that would give anyone hope that things will get better," broker Ian Ailes said. The pace of growth for home prices in the city has been slowing since 2014, and the average home price is at 13 times the average income of London residents. Though prices aren’t expected to take a steep drop, stagnant wage growth and an otherwise sluggish economy will keep the market slow for the time being, experts said. Financial Times
Britain Has Some of Europe’s Worst Buy-to-Let Yields The U.K. has dropped 10 spots and is now ranked as the 25th best place in Europe for buy-to-let property, with average rental yields of 4% nationwide, and as low as 2% in London. Ireland, Malta, and Portugal were among the highest yielding nations on the list, with yields of 7.08%, 6.64%, and 6.43%, respectively. Greece, Turkey, Bulgaria Latvia, Cyprus, Romania, and Poland all offer better yields than the U.K. as well, with only Austria, France, Croatia, and Sweden faring worse. PropertyWire
A Northern California Home with Original Speakeasy is on Sale for $3.7 Million A 1928 Spanish Colonial Revival home in Piedmont, California, has hit the market for $3.795 million, and comes with an unusual amenity: a speakeasy with impasto painting on the walls and an original bar brought in from a saloon in San Francisco. The six-bedroom, 5,400-square-foot house also has its own ballroom, a foyer with coffered ceilings, and a newly renovated kitchen. The property was designed by Claude B. Barton. Curbed San Francisco
Melbourne and Brisbane Suburbs Beat Sydney on Quality of Life, Study Shows A study from realestate.com.au on Australia’s major suburbs shows quality of life as higher outside Melbourne and Brisbane than Sydney, thanks to the latter’s high costs and difficult commutes. The rankings accounted for factors including access to schools, traffic, and job opportunities. All told, the suburb deemed "most liveable" was St. Kilda West outside of Melbourne, with South Brisbane and Dutton Park also at the top of the list. News.com.au
Chinese Investors Are Buying U.S. Properties to Finance Their Children’s Educations Chinese parents with children studying in the U.S. are buying up properties at record rates, partly in hopes that real estate will garner enough return on investment to cover the tuition costs. Chinese buyers have already spent $31.7 billion on U.S. property this year, up from $27.3 billion in 2016, according to the National Association of Realtors, making them the country’s top foreign buyers. "If they invest wisely, through rents and appreciation parents can turn over a profit of between $30,00 and $40,000 with a property in cities such as New York and Boston over a span of four years, which is large enough to cover their child’s tuition," said Douglas Elliman’s Angela Li. South China Morning Post
AROUND NEWS CORP
Planned California Home Seeks a Record $65 Million [The Wall Street Journal]
Is Every Offer Shown to the Seller? What to Do If You Think Your Offer Is Being Ignored [Realtor.com]
Why Fall Is the Best Time to Buy a Starter Home [MarketWatch]
The Posh House Money Can't Buy [news.com.au]