Did You Know?

DID YOU KNOW? Discount broker Purplebricks said it would pull out of the U.S. market in the latest setback for the struggling British online estate agent which is already preparing to exit Australia. Purplebricks, which also operates in Canada, entered the USA in 2017 confident of replicating its performance in Britain. But in May, the company apologized to shareholders for its disappointing performance and said it had slashed U.S. marketing and other expenses and was reviewing whether it can run a “materially scaled back U.S. business” there. (Reuters)
DID YOU KNOW? While homes in London valued above $12.6 million saw prices decline 2.5% in the year to June, the decrease was the smallest seen by any price bracket, while the drop for homes valued between £1 million and £2 million was 4.8%. The largest price declines were seen on homes valued below £1 million. When paired with currency changes, the price declines mean that the effective discounts afforded to some international buyers are particularly prominent. (Mansion)

DID YOU KNOW? By 2100, academics estimate, 80% to 90% of the population will live in cities and it isn’t just people streaming into cities – capital is flowing there too. Housing is in demand as an “investment good,” not just for shelter. Importantly, investors can be foreign as well as domestic. That means that “house prices in the cities thus not only reflect the local factors such as supply constraints, regulations and zoning, but also global trends. (Marketwatch)

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