London's £5 Million-Plus Sales Rose 11% in the First Half of 2022
Overall prime London property transactions fell 29% from last year's peak, LonRes says. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
In New York's Catskill Mountains, This Adirondack-Inspired Home Sits on More Than 70 Acres
The property was modeled after a renowned upstate resort. Read More
DESIGNER'S CORNER
Make a Bold Decorating Move in Your Primary Bedroom
A snazzy wallpaper can inject style and impact to the space. Read More
NEWS BITES
Average U.K. Home Could Cost More Than £300,000 by August
A new milestone could be coming for the U.K real estate market, according to industry insiders. Despite borrowing rates rising at the fastest rate in 18 years, Jonathan Rolande, of House Buy Fast and the National Association of Property Buyers, predicts that the price of the average U.K. home could surpass £300,000 (US$356,523) before summer's end. "Although prices are beginning to flatten in some parts of the U.K., there are still many regions, particularly outside of London, where prices continue to rise, which is pushing up the national average," Mr. Rolande said. The current cost of the average U.K. home is a record £294,845. City A.M.
Many Australian Suburbs Are Still Going Strong
While rising interest rates have sent a chill through Australia's property market, the cold snap is not being felt uniformly—many of the nation's suburbs continue to thrive. According to data from PropTrack, in the three months leading to June 30, 15 suburbs of Victoria, 23 suburbs of New South Wales, and an astounding 249 suburbs of Queensland posted price gains of 10% or more. "Broadly, prices are falling in Sydney and Melbourne," said Cameron Kusher, executive manager of economic research at PropTrack. "But are rising in South Australia and, while growth is slowing in Queensland, it remains more robust than other major markets." realestate.com.au
Chinese Buyers Eying £55 Million London Gucci Mansion
The House of Gucci is drawing international interest. An enormous Neoclassical mansion, which once served as the London headquarters for high-end fashion house Gucci and hit the market last week for £55 million (US$66.2 million), has caught the eye of several wealthy Chinese buyers, according to listing agency Beauchamp Estates. "The three people from mainland China are all ultra-high-net-worth businesspeople, who own large companies in finance, IT and real estate and have families with wives and children," said Gary Hersham, founding director of Beauchamp Estates. "At this price level … these assets are both for personal use, entertaining friends and business acquaintances and as a business investment." South China Morning Post
Billionaire Daryl Katz, Owner of the Edmonton Oilers, Lists Unfinished L.A. Home for $38.5 Million
Daryl Katz, Canadian billionaire and owner of the Edmonton Oilers hockey team, has listed his yet-to-be-built megamansion in Los Angeles's Bel Air neighborhood for $38.5 million. The lot, which encompasses 4.5 acres and includes an unfinished structure, features views that span from downtown Los Angeles to the Pacific Ocean. Mr. Katz purchased the site in 2015 for $34 million from Canadian-American property developer Francesco Aquillini, who also happens to be chairman of the Vancouver Canucks NHL team. The Real Deal
AROUND NEWS CORP
Paul Allen's Estate Sells Two New York Apartments for $101 Million [The Wall Street Journal]
Property Investors Spooked by Specter of Recession [The Times of London]
$22.5M Miami Home Comes With Memberships to Airport, 2 Golf Courses [New York Post]
8 Signs You're Buying Land That's a Silent, Massive Money Pit [Realtor.com]
