U.S. Housing Prices Return to Peak Levels
The average home price is now 1% higher than it was pre-recession. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Charleston House Transports You to Early 20th Century
The updated home is in the heart of the South Carolina city’s historic district. Read More
TAX TALK
Tax Implications of Buying a Condo Versus a House in San Francisco
The only thing that will affect your rate is how much you paid for the property. Read More
NEWS BITES
Ranking of U.S.’s Most Gentrified Areas Includes D.C., Los Angeles and New York City A new listing of the nation’s most gentrified ZIP Codes included several New York City neighborhoods within the top 20. Compiled by the real estate website RentCafe, the rankings took into consideration median home values, median incomes and the number of residents with a bachelor’s degree from 2000 to 2016. The top two slots went to Downtown Los Angeles, where home values grew 707%, and the Shaw area of Washington, D.C., which saw an increase of 207%. New York Post
Mortgage Approvals Rise for First-Time Buyers in the U.K. The number of mortgage approvals for first-time U.K. buyers has risen precipitously. While 53% of applicants were approved in the final quarter of 2016, that number was 74% a year later. Data suggests that lower house prices and interest rates, greater competition between lenders and the Help to Buy government program have all contributed to the shift. No other category of homebuyer saw a larger increase in approved applications. City A.M.
Number of London Homes to Rent Well Below Average The number of London homes available to rent has fallen to 46% below the national average, according to a report from the Association of Residential Letting Agents. In January, London agents had an average of 99 rentals versus a national average of 184. December numbers were 130 in London versus 200 nationwide. Increased property prices and higher taxes are all putting a strain on landlords and contributing to the shortage. PropertyWire
Edward Norton Lists Malibu Home Three-time Oscar nominee Edward Norton has listed a Malibu, California, home for $5.25 million. The Los Flores Beach three-bedroom is located on the ocean with 43 feet of water frontage and has two kitchens, a spa, sundeck and tiki bar. Mr. Norton paid $2.72 million when he purchased the property in 2008. He recently became the owner of an $11.8 million home in nearby Malibu designed by famed architect John Lautner. Los Angeles Times
Hong Kong Price Growth Slows in January Growth in Hong Kong real estate softened a bit in January, according to data from the city’s Rating and Valuation Department. The home price index was up 1.27% for the month, compared to a 1.52% growth in December. The rental index fell 0.32%, the first drop since November 2016. Despite the slight softening, January was the 15th month of consecutive growth for Hong Kong, the longest period of growth since 1993. And 32,000 new apartments are expected to become available for sale within the year, a factor that will likely shake things up further. South China Morning Post
AROUND NEWS CORP
Saudi Royals’ L.A. Home Listed for $110 Million [The Wall Street Journal]
This City Saw the Biggest Home-Price Growth in 2017—and, No, It's Not on the West Coast [MarketWatch]
Upper East Side Townhouse Comes With 'Secret Passageway' [New York Post]
5 Disastrous Tax Mistakes People Make When They Work From Home [realtor.com]