It’s Now Cheaper to Rent Than Buy a Home in the U.K.
A typical monthly mortgage is now 7% more expensive than the average rent. Read More
BY THE NUMBERS
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LISTING OF THE DAY
Holland Park Penthouse Offers Terraces and Sweeping ‘Picture-Frame’ Views of West London
The apartment at 80 Holland Park comes with furnishings by award-winning designers Albion Nord. Read More
SMART HOMES
Smart Technology to Help With Pool Cleaning
Enjoy sparkling waters all summer long with these high-tech devices. Read More
NEWS BITES
Raffles-Branded Residences Headed to London
The company behind the iconic Raffles Hotel Singapore is opening its first branded residences in Europe within London’s Old War Office building, a storied spot that was Winston Churchill’s base during World War II. The OWO Residences by Raffles will deliver 85 luxury homes to the U.K. capital with prices for a two-bedroom residence starting at £5.8 million (US$8.1 million). The building will also house a Raffles Hotel with 125 rooms and suites, nine restaurants and bars, and a spa. The Straits Times
Average Property Price in Australia’s New South Wales Tops A$1 Million
The cost of a typical home across the Australian state of New South Wales surpassed A$1 million (US$768,235) for the first time during the first quarter of the year, according to the Australian Bureau of Statistics. Property price gains were particularly strong in Sydney, which recorded a 6.1% increase over the quarter, led by single-family homes. Though Sydney’s median home price has been above A$1 million for some time, “this was the first time any state or territory had seen the average price of dwellings rise above A$1 million,” said Michelle Marquardt, ABS head of price statistics. The Australian Financial Review
Remote Scottish Property Offers Buyers a Peaceful Retreat
A remote property in the Scottish Highlands on the shores of Loch Nevis has come to the market. Operated as a home and outdoor adventure center, the property—which can only be accessed by boat or on foot—includes a two-bedroom cottage, five wooden bunkhouses that can accommodate up to 24 people, a two-story lodge, a private slipway, a pier and mooring, and 8 acres of land. The property is asking for offers over £700,000 (US$985,810). The Scotsman
Rents Rising for U.S. Single-Family Homes
As the sale market alienates potential buyers with supply shortages and affordability constraints, the rental market in turn has seen an influx of demand that pushed the cost of renting a single-family home in the U.S. up 5.3% annually in April. That’s the largest annual rent increase in nearly 15 years, according to the latest data from CoreLogic. Detached rentals recorded particularly strong growth, up 7.9% year over year in April, driven by a desire for more space and outdoor amenities. World Property Journal
AROUND NEWS CORP
Cash-for-Visa Program Looks to Be in Jeopardy [The Wall Street Journal]
The Ultimate Guide to Accent Chairs—and Where They Belong in a Home [realtor.com]
This City Has the Highest Percentage of Million-Dollar Homes in the U.S. [New York Post]
St Peters Home’s Seven-Figure Sale Price a Top Deal for Both SA and Its Street [news.com.au]
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