Manhattan Luxury Real Estate Has Worst Third Quarter Since 2012
Seventeen contracts were signed at $4 million and above last week. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Uniquely Private Retreat in the Heart of Silicon Valley
Situated atop a private knoll in the heart of Silicon Valley, the Singingwood estate comprises 14.5 acres that border the 1,200-acre open space Jasper Ridge Preserve owned by Stanford University. Read More
THE INSIDERS
Advice From Hollywood’s Megamansion King: Build for Your Lifestyle and Ignore Trends
Los Angeles-based Richard Landry sees beauty in opposite styles of architecture. Read More
NEWS BITES
Home Price Growth Has Slowed Across Australia, Dropped in Sydney Tighter new restrictions on loans appear to be having their desired effect in Australia, where home prices had their second straight month of slow growth in September, according to the CoreLogic index. Prices in Australian capital cities rose only 0.3% in September (and 0.1% in August), with annual growth slowing to 8.5%. Prices in Sydney saw their first decline in 17 months, dropping 0.1% (and down to an annual growth rate of 10.5%), while prices in Melbourne rose 0.9% with an annual growth rate of 12.1%; Perth’s annual growth rate fell to 2.9%; and Hobart’s grew to 14%. Reuters
Katy Perry Has Listed Her Hollywood Hill Home for $9.5 Million Katy Perry is selling one of two adjoining properties she owns in Hollywood Hills, putting up her 7,500-square-foot home next to Runyon Canyon Park on the market for $9.45 million. Ms. Perry initially bought two adjoining properties from Aileen Getty for a combined $11.2 million in 2013 (one is a Mediterranean-style home, the other a more modern design), and unsuccessfully attempted to sell both in a recent off-market deal. Curbed Los Angeles
U.K. Home Shortage Expected to Reach 1 Million by 2022 The U.K.’s property shortage is expected to worsen in the next few years, reaching a deficit of one million homes by 2022, according to an analysis from Search Acumen based on data from the Office for National Statistics. There has already been a shortfall of over 530,000 homes in England since 2005 as the population continues to increase, and current political proposals to add 200,000 or 300,000 new homes per year still won’t bridge the gap, though there is enough brownfield space across the U.K. to make room for the necessary construction. PropertyWire
Chinese Banks Ordered to Enforce More Stringent Down Payment Requirements Regulators have told Chinese mortgage lenders to crack down on buyers’ use of loopholes to get around high down-payment requirements, the latest effort to slow activity and curb speculation in a property market that’s at risk of a bubble. Specifically, regulators are targeting short-term household loans, which can allow buyers to skirt the normal down payment minimums of 20% on a first-time home purchase, and 60% for a second property. Financial Times
Singapore’s Private Home Market Registers its First Increase in 15 Quarters In another sign of a coming rebound for Singapore’s slumping real estate market, flash estimates from the Urban Redevelopment Authority showed a 0.5% property index increase in Q3, the market’s first increase after 15 quarters of decline. Regionally, prices for private condos and apartments increased 0.2% in the urban Core Central Region, and stayed steady in the rest of the Central Region after growth in that area the previous quarter. In the suburban Outside Central Region area, the price index increased by 0.7%. Business Times
U.K. Residents Are Renting More—And at Higher Prices Renters in the U.K. have paid about £54 billion (US$72 billion) to landlords in the last year, according to Savills, more than twice the amount of mortgage interest that has been paid to banks (£26.5 billion, or US$35 billion). The data serves to highlight the growing squeeze on the sales market that’s pushing would-be buyers to continue renting—and at higher prices—while at the same time benefitting existing homeowners who have been able to re-finance with current low interest rates and cheap homes. Financial Times
AROUND NEWS CORP
Why Men Make More Money on Real Estate Than Women [MarketWatch]
The Craziest Details Inside America's Largest Private Home [New York Post]
Strategies to Sell Your Home This Autumn [The Times of London]
California Will Charge New Fees on Real-Estate Deals to Pay for Affordable Housing [The Wall Street Journal]