Southern California home sales and prices rose in September as the market remained strong in the face of the Covid-19 pandemic. The region’s median price rose 15.3% year over year to a record $ 612,750 last month. This is based on data released by DQNews on Wednesday. Meanwhile, the number of sales increased by 22.3%. However, the number of properties for sale is lower than last year, which is one of the factors behind the price increases. Los Angeles times

Australia’s Perth faces a “rental crisis”

Western Australia’s top real estate association has warned Perth that it is in a “rental crisis” as the city’s vacancy rate fell below 1% for the third time in 40 years. “I suspect we likely won’t have all of the real estate available by early 2021,” said Damian Collins, president of WA’s Real Estate Institute. He said the rate was falling rapidly and was on track to hit the all-time low of 0.8% recorded in March 2007. Abc.net

To take advantage of Stamp Duty Holiday, shoppers in the UK need to move quickly

According to the Legal & General Mortgage Club, house hunters looking to take advantage of the current UK stamp duty vacation should start by November 1st. Although the holiday that affects the first £ 500,000 ($ 657,287) of a property’s value runs through March 31, it takes longer for transactions to complete. Before the pandemic, it took less than two weeks (61%) to offer a mortgage application under simple circumstances. Consultants say the process now takes much longer – 30% said it takes three to four weeks, another 32% say it takes four to eight weeks. PropertyWire

Cape Cod with record prices

The Cape Cod area of Massachusetts had another record month in September, according to the Cape Cod and Islands Association of Realtors. The median sales price for single-family homes in the area, a popular vacation spot for Northeasters – especially Bostonians – hit an all-time high of $ 550,000 in September, up $ 100,000 year over year. CEO Ryan Castle said the total inventory continued to decline. Despite unclear stock prospects, the association is forecasting a strong October for sellers. CapeCod.com

AROUND NEWS CORP

Susan Sarandon receives full price for New York apartment [The Wall Street Journal]

Confessions from first-time buyers: “How we hit 32 offers and got the house” [realtor.com]

South Yarra Marble Mansion with Terracotta Warrior Pool for Sale [news.com.au]

New photos reveal the glamorous California Digs of Prince Harry and Meghan Markle [New York Post]

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