Mansion Global Daily: A modern, eco-friendly ranch in Malibu, Toronto Home sales plummet as rates rise, and more


Zero-carbon ‘modern ranch’ in Malibu, California sold for $23 million

The six-bedroom, 14,400-square-foot ocean-view home is equipped with solar panels and electric vehicle charging stations. Read more

IN NUMBERS


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LIST OF THE DAY


A suburban Virginia home that’s a mix of ultra-modern features and reclaimed wood from the property

Amenities include a pool and spa, wine cellar, video wall featuring 16 TV screens, a 10-foot-wide gas fireplace, and a 30,000-pound spiral staircase. Read more

DESIGNERS CORNER


Less is more: creating a minimalist living room

Clean lines, warmth, and balance are the key to maintaining this fuss-free style. Read more

NEWS

Soaring UK house prices have pushed millions of homes into a higher tax bracket

A knock-on effect of the steady escalation in UK house prices since the start of the pandemic is that millions of properties have now been pushed into a higher stamp duty (or tax equivalent) bracket. Average UK house prices have risen by £29,000 ($36,251) since March 2020 to £249,700, pushing 4.3 million homes to a low, according to a study by property portal Zoopla. higher stamp duty. As a result, potential buyers face the possibility of paying higher taxes when closing a deal on a home, which presents yet another hurdle for potential first-time buyers. Irvine Times

Toronto home sales fall as rates rise

Rising lending rates have sent home sales into a stalemate in Canada’s largest housing market. Data from the Toronto Regional Real Estate Board shows that 8,008 properties were sold in the region in April, compared to 13,613 transactions in March, a decline of 41.2%. The dizzying fall was felt across all property types, with declines in sales ranging from 32% to 47%, and had a further effect on prices, which recorded a 3.5% month-on-month drop to the other of the MLS home price index. The average selling price for a property in the area in April was C$1.25 million (US$977,268). BNN Bloomberg

Sales rebound in Hong Kong as sellers cut prices

Home sales in Hong Kong hit a three-month high in April, with sellers offering deep discounts, even at a loss, to close deals. According to Centaline Property Agency, the value of deals rose by about a fifth in April to 41.9 billion Hong Kong dollars ($5.3 billion), while the number of transactions increased by almost a quarter month-on-month to 4,847. Sellers, meanwhile, have been willing to slash their asking prices by up to 12%, industry analysts say, in a bid to strike a quick deal . South China Morning Post

San Francisco shoppers face ‘double whammy’

Bay Area shoppers are in for a San Francisco treat — and not the savory kind. Compass chief market analyst Patrick Carlisle says buyers in the region are facing a ‘double whammy’ of higher prices and rapidly rising interest rates that have boosted payments by 50% monthly median for properties in the area over the past year. Citing soon-to-be-released data from Compass, Carlisle argues that historically low U.S. interest rates in recent years have “effectively subsidized” rising housing costs in the San Francisco Bay Area. The loss of these rates, which have fallen from around 3% 12 months ago to around 5% today, coupled with the increase in property values, has led to a sharp increase in home ownership costs. property for Bay Area buyers. The real deal

AROUND NEWS CORP

There are water views, then there are water views [The Wall Street Journal]

Are spring allergies making you unhappy? 7 tips to protect your home against pollen [Realtor.com]

Beverly Hills penthouse could break Los Angeles condo price record with $75 million [New York Post]

Interest rate hikes could reduce house prices by 15% [news.com.au]

About Vicki Davis

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