Mansion Global Daily: What the fall has in store for luxury real estate, working from home has driven prices up in the UK and more.

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Roadmap for Navigating the Fall Luxury Real Estate Markets

What to expect in New York, London, Miami and Dubai in the coming months. Read more

BY THE NUMBERS


TREND TODAY


LIST OF THE DAY


$ 65 million Beverly Hills Spec House features 150-year-old olive tree in interior courtyard

The furnished home offers 18,000 square feet of interior space, with a master bedroom larger than the average Los Angeles home. Read more

NEIGHBORHOOD NOTES


Gueliz and Hivernage offer a cosmopolitan and modern life in the cultural heart of Marrakech

The adjacent neighborhoods, which include the best French schools, luxury hotels, and the Moroccan city’s vibrant nightlife, attract a younger and international set of affluent residents. Read more

NEW BITES

Homeworking has driven prices up in UK, Bank of England says

Soaring UK house prices have been supported by the ability of buyers to work from home, as have high loan-to-value (LTV) mortgages, according to the Bank of England. Prices rose 7.6% year-over-year in July, while the average quoted price for a mortgage with an LTV of 90% fell 85 basis points year-to-date , according to the bank’s monetary policy report released on Thursday. “People have been working more from home and expect to work more from home,” the bank’s deputy governor Ben Broadbent said on Friday during a web event with the bank’s regional officers. “Home space becomes more valuable, and in particular, home space outside of city centers becomes more valuable.” Bloomberg

Surfside Florida condominium collapse site to be offered for sale

Commercial real estate brokerage Avison Young is preparing an offering memorandum for the site of a condominium collapse in Surfside, Fla., In Miami-Dade County, which could be ready within a month. The company is working through the details of the site’s zoning while an appraiser determines the fair market value of the units to determine payouts to survivors and families of victims of the collapse, which left 98 people dead. The plans, brought to light in court proceedings earlier this week, make the site less likely to become a memorial, which some have proposed. The real deal

Sales and price growth persists in Westchester County, New York

Strong demand continued to drive sales in Westchester County, New York, according to the Hudson Gateway Association of Realtors. The median price of single-family homes rose 17.7% to $ 835,500 in the second quarter of 2021, compared to the same period last year. In addition, home sales increased by 54.4%. “Residential home sales in Westchester County for the second quarter of 2021 have continued a remarkable recovery from the depths of the Covid-19 crisis a year ago… and at this point these trends show no sign of downturn, ”said Richard Haggerty, CEO of Hudson Gateway Association of Realtors. Yonkers time

California Cities Ranked Least Affordable

The Los Angeles area remained the least affordable major housing market in the United States for the third consecutive quarter, according to the National Association of Home Builders and Wells Fargo Housing Opportunity Index. In fact, the five least affordable regions in the country were in California, including the greater San Francisco area; Anaheim, Santa Ana and Irvine; San Diego and Carlsbad; and Oxnard-Thousand Oaks-Ventura. Pittsburgh was the most affordable real estate market in the country. World Property Journal

AROUND NEWS CORP

In Salt Lake City, “Sticker Shock” Doesn’t Stop People From Buying Million Dollar Homes [The Wall Street Journal]

How to read a UK property floor plan [The Times of London]

Nearly half of empty luxury units in seven billionaire townhouses [New York Post]

How that rapid turnaround in Dallas generated six-figure profit in less than a month [realtor.com]


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