‘New Modernism,’ Smaller Footprints Gain Popularity in the Hamptons
Architect and historian Anne Surchin says ‘McMansions’ are becoming a thing of the past in the tony vacation area. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Chic London Mews Apartment With Unusually Large Rooms and High Ceilings
"From the outside it’s hard to envisage the space within," said Jake Russell, a director at the London firm of Russell Simpson. "However, as soon as you step inside, it opens up into this wonderful, open environment." Read More
SMART HOMES
Smart Ovens Offer Comfort in the Kitchen
Who couldn’t use more help in the kitchen? From cooking to control, smart ovens offer aid to even the most accomplished of chefs. Read More
NEWS BITES
U.K. Home Sales Jump In July
According to figures from HM Revenue and Customs, 104,760 homes were bought and sold in the U.K. in July, up from June’s 103,450. The last peak was March 2016, when 171,570 homes were bought and sold. But the increase in stamp duty tax, and uncertainty after the Brexit vote has pulled sales down since then. There are some indications that the market may be picking up again: Land Registry figures indicated a 4.9% raise in housing prices in the year through June. City AM
Abu Dhabi’s Home Sales Predicted to Dip Further
According to consultancy Core Savills, Abu Dhabi’s residential sales are being forecast to continue to fall over the next six to 12 month, though not as quickly as they have been, as supply continues to increase. Sales have dropped between 4% and 16% in the last two quarters, and could potentially reach a bottom price of Dh1,150-1,250 (US$312- $340) per square foot. Lower incomes, job cuts, and inflation have contributed to weakening demand. The National AE
New Mortgage Applications in U.S. Increase by 5.1%
New numbers from the Mortgage Bankers Association Builder Applications Survey show that mortgage applications to homebuilders for new home purchases in the United States increased year on year by 5.1% from July 2016 to July 2017. However, applications have decreased 12% since June. Despite the slowdown, MBA says the numbers suggest that housing market will not drop as much as expected in the late summer and fall, because demand will transfer from an existing homes market with low inventory to new home construction. World Property Journal
U.K. Home Builder Persimmon Increases Profits by 30%
The second largest home-builder in the United Kingdom, Persimmon, advanced its profits in the first half of 2017 by 30% year on year. This indicates that although there is a larger slowdown, new-build home sales are still doing well. Its pre-tax profits were £457 million (US$586 million), and the company built 8% more homes in the time period than last year. Financial Times
AROUND NEWS CORP
Racking up the 'Favorites' on Zillow Make Homes Sell Faster and for More [MarketWatch]
Boston Penthouse to Seek Record $40 Million [The Wall Street Journal]
7 Reasons Why Buying a Vacation Home Might Be No Holiday [Realtor.com]
Luxury Condo Tower Rises on 'Gritty' South Street [New York Post]