The Most Expensive Home in Texas Is a $60 Million, European-Inspired Chateau
The Houston home, with more than 20,000 square feet of space, has water on three sides and handcrafted details throughout. Read More
BY THE NUMBERS
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LISTING OF THE DAY
An Equestrian Estate Home on Over 8 Acres of Land
Craftsmanship, landscaping and horse-riding converge on this sprawling Massachusetts estate. Read More
DESIGNER'S CORNER
Summer Tablescapes: Curating an Eye-Catching Outdoor Hosting Area
Fresh-cut flowers, potted herbs and fine china set the scene. Read More
NEWS BITES
Growing Cost of Living Could Tame U.K. Price Growth
International estate agency Savills is pointing to the ever-escalating cost of living in the U.K. as the primary factor that will moderate home price growth in the nation in the near future. Despite property prices hitting record, or near record, highs almost monthly, the London-headquartered business predicts that "cost of living pressures"—coupled with the increased cost of borrowing—will tamp down the U.K. market's capacity for further gains. The agency is predicting 7.5% house price growth for the remainder of 2022 and "modest price falls" in 2023, although "nothing that points to a price correction." City A.M.
In Australia, Brisbane and Adelaide Buck Price Drops
While Australia as a whole has seen home price growth slow, or even drop, over the course of 2022, two capital cities appear to be immune to the trend for the time being. According to the latest Home Price Index from PropTrack, prices remained flat across much of the nation in May—and dropped in Canberra for the first time in three years—yet Brisbane and Adelaide still demonstrated an upward trajectory. Prices in Brisbane rose 0.35% in May, and are up 25.92% over the past 12 months, while Adelaide house prices were up 0.58% last month, and 24.24% annually. "Brisbane and Adelaide are likely to continue to outperform," said PropTrack economist Paul Ryan. "They have the appeal of city living with larger homes and lower prices." realestate.com.au
Bank of Canada Raises Interest Rate to 1.5%
The Bank of Canada raised its benchmark interest rate by 50 basis points Wednesday, bringing the policy rate to 1.5%. The increase is the second consecutive 50 basis points boost by the organization and industry insiders expect forthcoming hikes will raise the rate to 2% by mid-July. The move, made to combat inflation, which hit a three-decade high in April, could have profound effects on the nation's housing markets, particularly in Toronto and Vancouver, as the higher cost of borrowing could moderate what has been cutthroat competition (and dizzying price increases) over the course of the Covid-19 pandemic. Bloomberg
NBA Star Ben Simmons Lists Los Angeles Mansion for $23 Million
NBA star Ben Simmons, formerly of the Philadelphia 76ers and currently on the Brooklyn Nets, has placed his home in the Hidden Hills neighborhood of Los Angeles on the market for $23 million. Mr. Simmons bought the property, which was built in 2021, last year for $17.5 million. The farmhouse-style home includes seven bedrooms, seven-and-a-half bathrooms, a movie theater, a gym, a recording studio and two kitchens, as well as a 65-foot-long swimming pool. Los Angeles Times
AROUND NEWS CORP
In Florida's Golden Beach, a Large Oceanfront Home Asks $100 Million [The Wall Street Journal]
Why Cyprus Wants to Be Monaco in the Middle East [The Times of London]
'Vivid' and 'Funky' NYC Townhouse Lists for $3.9M [New York Post]
House Rich, Cash Poor Aussies Looking for Equity Under Their Own Roof [news.com.au]
