U.S. Sen. Mitt Romney Selling Alpine Lodge in Park City, Utah, for $11.5 Million
The former presidential candidate bought the ski resort home in 2013. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
There's a Secret Garden Atop This 19th-Century Brick Townhouse
The neo-Georgian home features a romantic walled rooftop terrace, a classic spiral staircase and period wallpaper. Read More
DESIGNER'S CORNER
Designing a Well-Curated Loft
Define seating areas, celebrate ceiling height and set the mood. Read More
NEWS BITES
Millions in the U.K. Could Struggle With Mortgage Payments if Rates Hit 6%
Millions in the U.K. could struggle with paying back their mortgage if interest rates reach 6%, according to a research note from Morgan Stanley. The bank concluded "30%-40% of households in lower income brackets will face difficulties paying their mortgages," should rates rise further, which seems like a distinct possibility as house prices spiral and the Bank of England looks to tamp down inflation, which reached a 40-year high of 10.1% last week. City A.M.
Rental Prices Surging in Australia
Rental prices in Australia have increased at 4.3% over the past three months to a national median of A$480 (US$312) per week—marking the fastest quarterly rate increase on record, according to a third-quarter report from PropTrack. Demand issues are most pronounced in Australia's capital cities, which are seeing a return of people who moved out of urban areas during the pandemic as well as a new influx of overseas migrants. And it looks like increasing costs will remain the story for the near future. "These demand and supply issues can be addressed, but none of these factors appear set to change in the near term," said PropTrack's director of economic research Cameron Kusher. "Which means a further tightening of rental supply and increases in rental costs seems likely over the coming year." realestate.com.au
Dubai Buyers Are Big on Apartments Again
The pendulum of buyer preferences has swung again in Dubai, with apartments seeing a growth in popularity over villas. While villas (and townhouses) in the city saw a surge of popularity at the onset of the Covid-19 pandemic and the implementation of social-distancing measures, which made more living space in higher demand, the lifting of those same measures appears to have given a boost to apartment sales. According to the Dubai Land Department, 73% of transactions in the third quarter of this year in Dubai involved apartment sales, up from 67% for the same period a year ago. Sales transactions in Dubai in the third quarter of this year were up 61% year on year, with a 76% increase in the number of apartment transactions year on year. Villa transactions, which face rising prices and increasing interest rates, were down 5% year on year for the same time period. The National
Presale Condo Transactions Plummet in Vancouver
Concerns about the state of the economy have taken a bite out of metro Vancouver's presale condo market, with buyers fleeing and developers delaying new projects. According to data firm Zonda Urban, in the third quarter of this year, presale condo and townhome transactions fell 72%, from an all-time peak of 5,481 in 2021 to 1,522 sales—a low not seen 2012, when only 1,515 new-condo sales of new condos were recorded in the third quarter. Vancouver Sun
AROUND NEWS CORP
Dream Home and Train for Sale off the Beaten Track [The Times of London]
You Won't Find Artwork Hanging From The Walls of This Rustic Italian Farmhouse [The Wall Street Journal]
6 Home-Selling Rules You've Heard Lately—and Should Actually Break [Realtor.com]
Asking Price of Greta Garbo's Former NYC Home Slashed by $500K [New York Post]
