News Briefs
Prices for Newly Built Spanish Homes Are Surging
New homes in Spain are seeing their values rise faster now than at any point since 2007, according to the country’s National Statistics Institute. New-home prices in the third quarter were up 11% compared to the same time last year as a result of low supply, high demand from foreign buyers and increasing inflation. “The rise, especially in new housing, is largely due to the fact that we are still at very low levels of new housing production, below 100,000 new homes per year,” said Javier Diaz Izquierdo, a real estate analyst at Madrid-based brokerage Renta 4. Reuters
Elevated Australian House Surrounded by Nature Reserves Is Headed to Auction
On the outskirts of Canberra, Australia, a Mid-Century Modern home on stilts surrounded by nature reserves is headed to auction later this month with a price guide of A$2 million (US$1.31 million) or more. Built by architect Ernest Munns as his family home in 1969, the five-bedroom house offers “a lot of wow factor,” said owner and selling agent Amy Wilson of Belle Property Canberra. “It’s elevated up on stilts, so you’re right up in the treetops,” she said. “The views are amazing and the birdlife that comes to visit the back balcony is just beautiful.” All Homes
Number of U.S. Homeowners Selling Their Own Property Has Hit a Record Low
The number of homeowners across the U.S. who are opting to sell their homes on their own has slipped to an all-time low, according to data from the National Association of Realtors. People selling their own properties, known as “for-sale-by-owner” sellers, represented just 7% of recent home sales. Driving the increase in real estate agent use are the tricky conditions of the housing market of late—high interest rates, a shortage of homes for sale and persistently high prices—which make the market tough to navigate alone. Yahoo
A London ‘Green House’ Wins National Architecture Prize
A polycarbonate-lined house in London has been named as the 2023’s House of the Year by the Royal Institute of British Architects. The light-filled residence, by architecture studio Hayhurst & Co, replaced an existing home on a tight lot in the city’s Tottenham neighborhood, and was modeled on a riad—a type of traditional Moroccan house built around a central courtyard. Known as Green House, the property has five bedrooms arranged around a skylit atrium. The jury hailed it “a true oasis within the city.” Dezeen
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