U.K. New Listing Prices Hit Record High In February
Properties coming onto the market had an average price of $660,104, Rightmove finds
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The U.K. property market is continuing to see robust activity and price growth this month, as both sellers and buyers fear they’re missing out in the competitive market.
Across the country, new listing prices rose 2.3% month over month in February to a record average of £348,804 ($660,104). The monthly gain, which equated to an increase of £7,785, was the biggest in more than 20 years, according to Rightmove, the U.K.’s largest online real estate portal and property website.
Compared to the same period last year, asking prices jumped 9.5%, the highest annual rate of growth since September 2014, according to Rightmove’s data released Monday.
“High demand and a shortage of available stock are supporting a rise in prices and a new record average asking price this month,” Tim Bannister, Rightmove’s director of property data, said in the report. “However, despite rising costs and rising interest rates, the data right now shows demand rising across the whole of Great Britain, with many people determined to move as we head into the spring home-moving season.”
The number of potential buyers who sent inquiries to agents increased 16% in February from a year ago, with London recording the biggest jump—at 24%—across any region, Rightmove data showed.
The number of new sellers listing their homes for sale was up by 11% year over year, suggesting more sellers are taking advantage of the competitive market, the report said.
“A fear of missing out on one’s dream home is really driving market behavior at the moment, as movers look to do all that they can to avoid the disappointment of being too slow to secure their ideal property,” Mr. Bannister said.
Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: February 20, 2022
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Blending brutalist strength with warm, refined interiors, Rumah is a bold architectural statement in Brighton’s coastal enclave — a designer family home where luxury meets liveability.
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Rumah means “home” in Indonesian and Malay, and it’s clear this designer property in Melbourne’s coveted beachside enclave of Brighton is a dream house in any language.
The uber-contemporary residence is a collaboration between builders Belot Property, Seidler Group architects, and the interiors team at Golden.
The result is a modern marvel that combines a brutalist concrete exterior ready to weather its coastal setting with inviting interiors using a mix of textures, from French oak to metal and brick finishes.
Just listed with Kay & Burton Bayside agents, Rae Mano, Matthew Pillios and Jamie Mi, the prestige property is on the market via a private treaty campaign with price expectations of between $10.5 million and $11.5 million.
Created to be a great entertainer while maintaining a level of discreet privacy, Rumah is, at its heart, a warm, family-friendly home that ticks all the boxes for detail-oriented design connoisseurs.
A palette of contradictions, Rumah blends angular and rounded forms, features hard steel and glass, and effortlessly incorporates the earthy finishes of brick and timber for a holistic sensory experience.
Beyond the oversized pivot door sits a large structural column wrapped in gold leaf, setting the tone for the rest of the residence. The three-storey layout offers a choice of multigenerational spaces, from the ground-floor everyday living level to the accommodation wing on the top floor and the large basement “clubhouse.”
At the heart of the home, a gourmet kitchen features a dramatic island bench, high-end appliances, and a full butler’s pantry. Multiple spaces feed off the kitchen, including a vast dining area and a large living room, which both spill out through full-height glazed doors to either a side barbecue terrace or the poolside deck to the rear.
Even the downstairs entertainer’s room – also known as the club – is effectively poolside thanks to an innovative glass viewing window framing swimmers and cleverly connecting the subterranean level to the rest of the home. This games room also houses a sophisticated bar, a wine cellar, integrated night club style lounge seating and a full bathroom.
Additionally, the lower floor features a hidden laundry room, two store rooms, direct access to a huge five-car garage with a convenient turning circle, and an extra bedroom or home office.
Via the private elevator, the top floor is dedicated to after-hours living. It has four spacious bedrooms, each with its own ensuite and walk-in wardrobes. In the luxurious primary suite, there is a hotel-inspired ensuite with a unique kidney-shaped freestanding bath and a dressing room.
Rumah’s added extras include warming indoor and outdoor fireplaces, automatic blinds, feature lighting, marble accents, bespoke wallpaper, built-in bedheads, an external spa and low-maintenance landscaped gardens.
Positioned on the corner of William and Halifax Sts, the 21st-century beach house is opposite William St Reserve, close to Brighton Primary School.
Rumah at 91 William St, Brighton is on the market via private sale with Kay & Burton Bayside and has a sales guide of $10.5 million and $11.5 million.
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