Over 6,000 incomplete ghost houses' across London as property market takes downturn
Construction work at 61 house-building sites in London has been halted, leaving over 6,000 half-built homes abandoned.
The number of stalled schemes is unprecedented in recent history, with only 10 schemes put on hold during the financial crisis in 2008 and 2009. [ more ]
Developers at the London New Home Show are offering discounts on house deposits to boost the property market.
Incentives such as cashbacks and promotions are being offered to first-time buyers who may find it difficult to get on the London property ladder. [ more ]
Estimated number of London leavers' slumps to nine-year low in 2023
NewsSportBusinessLifestyleCultureGoing OutHomes & PropertyComment The number of homes bought by Londoners outside the capital fell to 69,190 in 2023 according to estate agent Hamptons, the lowest figure since 2014 Fewer Londoners ventured outside the M25 in 2023 to buy a home elsewhere, according to an index.
The Week's Most Expensive Home: Double-Lot Stunner in Palm Beach Is Listed for $48.8M
A $48.85 million Mediterranean-style residence in Palm Beach, FL is currently the most expensive home on the market.
Other pricey properties include a Zen-inspired California mansion, a lakefront compound in North Carolina, and a fully furnished waterfront residence in Naples. [ more ]
Sunset Strip House Fetches $26M, Priciest LA Deal This Year
A newly built mansion in Los Angeles sold for $25.6 million, the priciest home sale in L.A. County so far this year.
The property sold for about half its original asking price, continuing a trend of luxury homes in L.A. with lowered values before finding buyers. [ more ]
Monday Bulletin: Controversial UWS Townhouse Hits Market For $85M; Brewer's Battle with Zaza Waza; Pushing Back Against the Mayor's New Request Forms; Boathouse Restaurant Fails NY Post Review
A luxury townhouse on the Upper West Side hit the market for $85 million, causing controversy over construction noise and property transformation. [ more ]
Snapchat CEO Evan Spiegel Hopes To Make 2 Los Angeles Mansions Disappear
Spiegel is selling two of his Southern California homes, including his first purchase in Brentwood and a lavish compound in the same area.
The properties showcase different styles, from a charming Spanish-style home in a canyon to a luxurious 1951 estate designed by architect Gerard Colcord. [ more ]
Tories to promise more help for first-time buyers in bid to turn around polling woes
The Conservatives will seek to cut costs for first-time property buyers in an appeal to younger voters ahead of the general election, as the number of people becoming homeowners falls to a 10-year low.
New data reveals which homeowners made the most by selling up in 2023
Homeowners made average gains in 2023: Detached - 137,000, Bungalow - 102,000, Semi-detached - 81,000, Terraced - 65,000, Flat - 30,000.
Homeowners with bungalows typically left 11 years between moves, compared to 10 years for detached homes, and 9 years for semi-detached, terraced homes, or flats. [ more ]
The areas that saw the biggest house price jumps and drops revealed
The local authority areas with the highest concentrations of homes increasing in value by 5% or more in 2023 are Rossendale, Blackburn with Darwen, Telford and Wrekin, Merthyr Tydfil, Burnley, Bolton, Inverclyde, Glasgow City, Carlisle, and Knowsley.
The areas with the highest concentration of homes with value loss of 5% or more are Dover, Hastings, Aberdeen City, Canterbury, Thanet, Rother, Folkestone & Hythe, Tendring, Moray, and South Holland. [ more ]
'Piece of Art': Ralph Twitchell-Designed Home in Sarasota Hits the Market for $2.1M
Ralph Twitchell's midcentury modern home in Sarasota is on the market for $2,150,000.
The home features two pavilions around an open courtyard with floor-to-ceiling glass walls, maintaining a true midcentury modern design aesthetic. [ more ]