The Hamptons See Higher Luxury Prices, but Fewer Sales
The median sales price of luxury homes increased 27% during the first quarter of 2018, brokerages find. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Tudor-Style Home in Westchester, New York, with Classic Style and Recent Renovations
The multi-storied New York residence includes a billiard room, wine cellar and a large portico once used for horse-drawn carriages. Read More
TAX TALK
Where Are the Best Property Tax Breaks for Green Homes Around the World?
France and Switzerland among top places in rewarding environmentally conscious homeowners. Read More
NEWS BITES
Foreign Buyers Drop as a Result of Toronto Tax The number of foreign buyers in Toronto has decreased considerably since a 15% tax was instituted in April of 2017. In the three-month period ending in February, 2.5% of buyers in the city were foreign. Last May, that number was 7.2%. House prices have also declined, with last April’s average of C$716,000 (US$558,343) down 14% to C$611,000 (US$476,464) in March. The highest percentage of foreign sales in the taxed region was in York, where they represented 32%. The Globe and Mail
Dr. Dre Buys $4.9 Million Los Angeles Home Hip-hop mogul Dr. Dre purchased a 9,400-square-foot Calabasas estate for $4.9 million. The property is part of a gated community and features six bedrooms, a home theater, lighted tennis court, swimming pool, fire pit and a sound engineered musical studio. The Mediterranean-style home sits on three-quarters of an acre overlooking the mountains. Dr. Dre owns several other Los Angeles homes, including one in Brentwood purchased from Tom Brady and Gisele Bundchen for $40 million four years ago. Los Angeles Times
March Sees New Home Sales Up in U.S. Sales of new construction, single-family homes increased by 4% in March in the U.S., the second highest rate since the recession. New home sales in the West jumped by 28.3% while the Northeast saw a 54.8% decrease. The Midwest dropped 2.4% and the South was up by 0.8%. In March, 301,000 new homes were for sale, a number that represents a 5.2-month supply at the current rate. The median price was $337,200. World Property Journal
Australia Experiences 1.2% Price Decline Home prices were down 1.2% across Australia in the March quarter. Darwin was hit the hardest, with a 7.5% decrease, while Sydney was down by 2.6%. Apartment prices in Darwin were down by 15.9% for the quarter and by 26.9% for the year. The average price in Perth is now A$419,000 (US$318,000), down from A$466,000 (US$353,218) in December 2014. Experts say that Perth does show signs of rebounding but that it’s likely to take some time. Domain
AROUND NEWS CORP
Making Your Vacation Home Your Full-Time Home [The Wall Street Journal]
Mortgage Rates Surge to Highest Since 2013 [MarketWatch]
New Yorkers Are Flocking to This Midwest Sanctuary [New York Post]
Mark Your Calendars: The Best Day and Month for Bargain Hunters to Buy a Home [realtor.com]