Half-Demolished House Sells for Millions in Australia
A partially demolished house in New Farm, a riverside suburb in Brisbane, Australia, sold at auction earlier this month for A$3.85 million (US$2.48 million). Half torn down, the property sits on a more than 4,600-square-foot lot, and the buyer also got a more than 3,000-square-foot block of neighboring vacant land. The sale came with plans for two new luxury homes designed by Invilla, a Brisbane-based architectural firm, the listing said. Domain
Massachusetts Home Prices Hit Record in August
Massachusetts property prices broke records in August. The median sales price for a single-family home in the state rose 6.2% annually to $600,000, while the median sales price for a condo jumped 9.4% to $525,000, according to a report from the Warren Group, a real estate analytics firm. “The shrinking single-family inventory continues to push prices to new highs,” said Cassidy Norton, associate publisher and media relations director for the group. “Couple this with the fact that interest rates are nearly double where they were a year ago, and the home buying process is becoming more complicated—and expensive—for buyers.” Boston.com
Typical U.K. Homeowners Are Getting Older Fast
The median age of home movers in the U.K. has jumped 3.5 years in the last 12 months, underlining the impact that the cost-of-living crisis, skyrocketing interest rates and high house prices have had on younger generations. The typical age of those planning to move home in the next six months is now 52.5, according to data science firm Outra. The market “is now the preserve of the old and rich,” said the firm’s founder Giles Mackay. Property Industry Eye
House Made From Repurposed Rubble in Bangalore, India
In Bangalore, India, architecture studio CollectiveProject have repurposed the rubble from a demolished building to create a new house. Building blocks for the new home’s outer walls were made from the debris, which was broken apart by hand and mixed with lime, soil and cement before being casted in custom molds and dried in the sun. “Bangalore’s rapid urbanization and unregulated sprawl over the last 20 years came at the expense of natural resources,” said studio partner Eliza Higgins. “To address this problem, we questioned if building demolition debris could be considered a resource, instead of generating waste, to create new components for construction.” Dezeen
