Mansion Global Daily: Australian Home Prices Continue to Rise, a Villa in Barbados and More

Mansion Global Daily: Australian Home Prices Continue to Rise, a Villa in Barbados and More


 

Australian House Prices on the Rise After Largest Downturn on Record

Recent interest rate cuts, easing of home loan lending restrictions and slashed income taxes are helping Australia’s real estate market rebound after one of the worst downturns in history. Read More

BY THE NUMBERS 

TRENDING TODAY 

LISTING OF THE DAY 

In Barbados’ Most Prestigious Neighborhood, a Villa With a View

This stylish contemporary villa sits high on a ridge, boasting spectacular views of Barbados. The home’s agent, Chris Parra, points out the unique nature of this property’s positioning. Read More

THE INSIDERS 

New York City Brownstone Expert Says There’s Very Good Value ‘Hiding in Plain Sight’

Nadine Adamson advises buyers not to overlook even the most prime areas in today’s market. Read More

NEWS BITES 

Hong Kong Experiences Worst Home Sales Weekend Since June The violence of Hong Kong’s protests has intensified, leading to the worst recorded week of residential property sales since June. Chinachem Group increased its discount for the Sol City residential project in Yuen Long from 7% to 13.5% and still only sold four of 144 units. Protest-related traffic and safety issues kept potential buyers away from sales offices, said Sammy Po, chief executive of Midland Realty’s residential department. South China Morning Post

U.S. Lots Get More Expensive for Developers The median price for lots of land intended for the construction of single-family homes increased 4.4% in 2018, which is 2.4% higher than the average inflation rate last year, according to the National Association of Home Builders. Nationwide, 50% of all lots sell for at least $49,500, making it more expensive for homebuyers to purchase new construction. MarketWatch

San Francisco Bay Area Has the Most Million-Dollar Homes in U.S. San Jose, California, has the most million-dollar-plus homes in the country with 54.46% of the total stock being $1 million-plus homes. San Francisco comes in at No. 2 in the nation with 42.39% of total stock, according to Lending Tree. In the 50 largest cities nationwide, only 5.86% of owner-occupied homes are valued over $1 million, said economist Tendayi Kapfidze. Curbed San Francisco

Homeownership Rates Drop Around the World The number of homeowners has dropped worldwide, according to Swinton Insurance. In the most developed countries, 22 out of 36 recorded a decline in homeownership in the past 10 years, with Ireland and the U.K. experiencing the sharpest decline at 11%. Australia, Japan and Poland were the only three countries with significant reported rises in homeownership in the past decade. PropertyWire

AROUND NEWS CORP 

How to Stage Your Home to Have Buyers Waiting in the Wings [Times of London]

Upsize in Retirement? Some Boomers Are Moving Into Bigger Homes [MarketWatch]

Supermodel Rachel Hunter Relists Hollywood Hills Home for $3.5M [realtor.com]

Gold Coast Celebrity Holiday Hideaway Fetches Multimillion-Dollar Price [realestate.com.au]

 

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