Manhattan Luxury Sales Post Best Week Leading to Labor Day in at Least 15 Years
A SoHo condo asking $42.5 million was the biggest deal last week. Read More
BY THE NUMBERS
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LISTING OF THE DAY
A ‘White-Box’ 65th-Floor Penthouse Atop a New Robert A.M. Stern-Designed Tower in Chicago
Buyers can take it as raw unfinished full-floor space or it can be fully built out by the developer. Read More
SMART HOMES
Smart Standing Desks to Give Your Home Office a Lift
Outfit your work setup with a high-tech table to boost productivity (and health). Read More
NEWS BITES
U.S. Home Prices Saw Record-Breaking Gains in July
U.S. home prices broke records in July as values rose 18%, according to CoreLogic's latest home price index. "July's annual home price growth was the most that we have ever seen in the 45-year history of the CoreLogic Home Price Index," said Dr. Frank Nothaft, chief economist at CoreLogic. "This price gain has far exceeded income growth and eroded affordability. In the coming months this will temper demand and lead to a slowing in price growth." Driving the increase was a combination of low mortgage rates and the ongoing discrepancy between rock-bottom supply levels and soaring demand for new homes. World Property Journal
Australia’s Metro Housing Markets Wrap up Strong Winter
August marked an unusually strong end of winter for Australia's property auctions. Despite ongoing lockdowns in Sydney and Melbourne, the two largest capital city markets, the pair each hit a record median auction price of A$1.92 million (US$1.41 million) and A$1.19 million, respectively. At the same time, Sydney, Brisbane and Canberra recorded the highest clearance rates—the percentage of auctioned properties successfully sold—for the month of August since Domain’s records began. Domain
U.K. Home Prices Reached an All-Time High in August
The average value of a home in the U.K. reached a record high of £262,954 (US$362,614) in August, after jumping 7.1% from the same time last year, according to a report from bank and mortgage provider Halifax. Though the metric saw a slowdown from July, when values rose 7.6% annually, prices are still £23,600, or 9.9%, higher than they were in June 2020, when the housing market began to reopen after the first Covid-19 lockdown. Prices jumped most in Wales, where an 11.6% annual increase was recorded, and rose least in London, up only 1.3% year over year. The Guardian
Hong Kong’s Luxury Rental Market Is Heating Up
Hong Kong’s high-end rental market is starting to heat up after seeing prices fall 16% in the last two years. Luxury residential rents in Hong Kong recorded an increase of 1.4% during the second quarter of the year, marking the first quarterly rise since mid-2019, according to JLL’s Hong Kong Residential Sales Market Monitor. Propping up prices is local demand, which has seen tenants upgrading their homes and filling up the empty apartments left behind by expats, according to the luxury residential leasing arm of Sun Hung Kai Properties. South China Morning Post
AROUND NEWS CORP
The Must-Have Interiors Trends for Autumn 2021 [The Times of London]
7 Myths About Household Appliances, Busted [realtor.com]
New ‘Dey’ for Manhattan Rental Seekers [New York Post]
This Home Builder Stock Could Soar 65% [Barron’s]