Fans of “Ted Lasso” take note: A lavish home in Richmond Green—a pocket of London that viewers of the much-loved Apple TV+ series will instantly recognize—has come to the market for £4.5 million (US$5.68 million).
Richmond Green and the townhouse’s immediate surroundings were a major filming location for the Emmy Award-winning show. Ted’s flat is around the corner; the local pub, where Ted and Coach Beard go to grab a pint, is just steps away; and the green itself, directly in front of the house, featured in plenty of scenes throughout the series.
The red-brick house, which dates to the mid-18th century, is a “fabulous example of Georgian architecture and craftsmanship,” said listing agent Peter Norgrove of Savills, which brought the home to the market earlier this week. Richmond Green is a historic village “immortalized as Henry VII’s former jousting ground” and now, as the set of the hit TV series, Norgrove added.
Set behind wrought iron railings, the four-bedroom property is loaded with period charm across its 3,698 square feet, from the high ceilings, fireplaces and ceiling cornicing to the window shutters, wide exposed floorboards and paneled hallway.
The sellers, who couldn’t be reached for comment, embarked on a “sympathetic renovation that has been carried out with great thought, depth of quality and attention to detail,” according to the listing.
There’s a drawing room that spans the full width of the house and features three floor-to-ceiling windows; a dining room; a media room; a bespoke kitchen with direct access onto the courtyard garden; a study; and four bedrooms including a sizable primary suite with views out over the Green.
The home last changed hands for £2.95 million in 2014, property records show.
This article first appeared on Mansion Global .
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This may be contributing to continually rising weekly rents
There has been a substantial increase in the number of Australians earning high incomes who are renting their homes instead of owning them, and this may be another element contributing to higher market demand and continually rising rents, according to new research.
The portion of households with an annual income of $140,000 per year (in 2021 dollars), went from 8 percent of the private rental market in 1996 to 24 percent in 2021, according to research by the Australian Housing and Urban Research Institute (AHURI). The AHURI study highlights that longer-term declines in the rate of home ownership in Australia are likely the cause of this trend.
The biggest challenge this creates is the flow-on effect on lower-income households because they may face stronger competition for a limited supply of rental stock, and they also have less capacity to cope with rising rents that look likely to keep going up due to the entrenched undersupply.
The 2024 ANZ CoreLogic Housing Affordability Report notes that weekly rents have been rising strongly since the pandemic and are currently re-accelerating. “Nationally, annual rent growth has lifted from a recent low of 8.1 percent year-on-year in October 2023, to 8.6 percent year-on-year in March 2024,” according to the report. “The re-acceleration was particularly evident in house rents, where annual growth bottomed out at 6.8 percent in the year to September, and rose to 8.4 percent in the year to March 2024.”
Rents are also rising in markets that have experienced recent declines. “In Hobart, rent values saw a downturn of -6 percent between March and October 2023. Since bottoming out in October, rents have now moved 5 percent higher to the end of March, and are just 1 percent off the record highs in March 2023. The Canberra rental market was the only other capital city to see a decline in rents in recent years, where rent values fell -3.8 percent between June 2022 and September 2023. Since then, Canberra rents have risen 3.5 percent, and are 1 percent from the record high.”
The Productivity Commission’s review of the National Housing and Homelessness Agreement points out that high-income earners also have more capacity to relocate to cheaper markets when rents rise, which creates more competition for lower-income households competing for homes in those same areas.
ANZ CoreLogic notes that rents in lower-cost markets have risen the most in recent years, so much so that the portion of earnings that lower-income households have to dedicate to rent has reached a record high 54.3 percent. For middle-income households, it’s 32.2 percent and for high-income households, it’s just 22.9 percent. ‘Housing stress’ has long been defined as requiring more than 30 percent of income to put a roof over your head.
While some high-income households may aspire to own their own homes, rising property values have made that a difficult and long process given the years it takes to save a deposit. ANZ CoreLogic data shows it now takes a median 10.1 years in the capital cities and 9.9 years in regional areas to save a 20 percent deposit to buy a property.
It also takes 48.3 percent of income in the cities and 47.1 percent in the regions to cover mortgage repayments at today’s home loan interest rates, which is far greater than the portion of income required to service rents at a median 30.4 percent in cities and 33.3 percent in the regions.
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