The Engel & Völkers News Brief: July 17, 2020

July 17, 2020

E&V News

Toronto Luxury Home Prices Up 11.9% in June From 2019: Report
Toronto Storeys
Engel & Völkers released its Mid-Year 2020 Canadian Market Report on Wednesday. The analysis found that as the COVID-19 curve has continued to flatten across the country, there has been a notable spike in demand for luxury real estate in Canada.

A Fully Restored 1856 House in Downtown Napa, California
Mansion Global
Explore this Carpenter Gothic-style house, listed by Agi Smith of Engel & Völkers Napa. As one of the oldest homes in Napa, it was rendered uninhabitable by the 2014 South Napa earthquake but has just emerged from a five-year historically accurate restoration and modern update.

This House For Sale In Ontario Comes With 100-Acre ‘Winnie The Pooh’ Woods
NARCity
Listed by James McGregor of Engel & Völkers Collingwood, and located in Ontario’s Georgian Bluffs township, this charming country home looks like a real-life fairy tale.

Americas

The best and worst places in the U.S. to invest in real estate during the pandemic
Fortune
Over the past decade, U.S. homeowners saw their cumulative home equity climb by $6 trillion. That massive gain—larger than the GDP of every nation with the exception of the U.S. and China—confirms that real estate is still a winning strategy for wealth building.

House prices bounced up 6.5% in June compared to last year, CREA says
CBC
The Canadian Real Estate Association said Wednesday that the average price of a Canadian resale home was $539,000, up 6.5 percent from the average price a year earlier. And it’s up by more than 10 percent from what it was just one month earlier, in May.

International

The $52 Trillion Bubble: China Grapples With Epic Property Boom
Wall Street Journal
After a brief pause during coronavirus lockdowns in February, a Chinese property boom in some megacities has resumed its upward climb, with prices rising higher and investors chasing deals despite job losses and other economic problems.

Luxury Living

Millennial Home-Buying Trends in the 2020 Luxury Real Estate Market
RISMedia
Millennial home-buying trends have become a hot topic in luxury real estate. This group now outnumbers baby boomers, and what they’re looking for in a home is drastically different than what their parents wanted when they entered the market.

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