Mansion Global Daily: New York Sales Slump as Inventories Tighten, US Property Taxes Hit $328 Billion in 2021, and More


Contracts in Manhattan and Brooklyn plunge in April as inventories tighten

Going forward, rising mortgage rates should calm the market and allow inventory levels to rise. Read more

IN NUMBERS


TRENDING TODAY


LIST OF THE DAY


In a 1920s Boston Brownstone, this apartment exudes grandeur

The three-bedroom house overlooking the Charles River is asking for nearly $5 million. Read more

TAX DISCUSSION


Can you explain the proposed property tax increase for Knoxville, Tennessee?

The mayor of the town is asking for a 50 cent increase in the property tax rate. Read more

NEWS

Australia’s mortgage defaults set to spike with interest rate hikes

More Australian homebuyers are likely to default on their mortgages as the Royal Bank of Australia begins raising interest rates to rein in rising house prices, Moody’s Investors Service has warned. “Interest rate hikes will pose the most risk to mortgages with high balances and those with repayment amounts close to the borrowers’ maximum repayment capacity,” said Alena Chen, vice president of Moody’s. Last November, the national crime rate fell to 1.2% from 1.44% for the same period in 2020. The Sydney Morning Herald

Sunshine Beach, Queensland, ranked as Australia’s most expensive suburb

Sunshine Beach, a coastal suburb of Noosa, Queensland, has been ranked Australia’s most expensive suburb, with a median property price of A$3.25 million (US$2.3 million) , according to the latest data from Domain. House prices in the area have soared 195.5% over the past five years, equivalent to an appreciation in value of A$1.59 million. In the first three months of 2022 alone, median house prices in Sunshine Beach rose by A$250,000, according to Domain. Domain

US property taxes hit $328 billion in 2021

With soaring US home values, property taxes levied reached $328 billion last year, a 1.6% increase from 2020, according to the latest data from Attom. The average single-family home tax bill rose 1.8% from $3,719 in 2020 to $3,785 in 2021. However, the growth rate was the slowest in the past five years, Attom said. . The Washington Post

A four-storey house converted from a silver mine engine in Cornwall, England, hits the market

Wheal Langford House, a home converted from a Grade II listed silver mine engine house in Cornwall, England, has hit the market for £750,000 (US$924,570). The four-story house has four bedrooms, four bathrooms, a living room and a large kitchen. Located on the border of Devon and Cornwall, the 3.7 acre plot overlooks the Cornish countryside. Sellers appeared on a design television show in 2011 as they began to convert the historic stone building into a residence. Metro

AROUND NEWS CORP

Jenna Bush Hager Lists New York Condo For $5.375 Million [The Wall Street Journal]

Ultimate Prepper property – complete with gold mine – available for $5.75 million [Realtor.com]

New York billionaire gets approval for controversial glass penthouse [New York Post]

The only north side waterfront for sale on Sydney’s main harbor is priced at A$15million [news.com.au]

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