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Beckham Peltz family feud: Brooklyn, Nicola in love but Victoria, David clashing with parents

It’s like Miami’s own version of dynasty.

Amid rumors of tension between Victoria Beckham and her new daughter-in-law, Nicola Peltz, Page Six is ​​told the trouble within the Beckham and Peltz clans is more widespread.

“Victoria and Nicola are just collateral damage. It’s not just about two women — it’s two families coming together,” said one highly placed source.

“It’s pretty obvious there’s an issue between the two families. Everybody needs to find their place. They’re just not quite connecting yet.”

The problems are not said to be between Brooklyn, 23, and his new in-laws, billionaire investor Nelson Peltz and his wife, Claudia.

In fact, Nelson’s is offering to back his son-in-law in whatever venture he wants.

According to the source, the chatter in Palm Beach is that the young couple could create their own empire, à la Brooklyn’s parents’ “Brand Beckham”.

It’s believed that Brooklyn and Nicola, a 28-year-old actress, would love to follow in the Beckhams’ footsteps by launching clothing, beauty and perfume lines.

“There is a very deliberate move orchestrated by Nicola and her mom and funded by Nelson. There is a reason why Brooklyn and Nicola are now ‘Peltz Beckham’. It’s all about branding,” the highly-placed source said.

“I think that Nicola and her mom come up with ideas, Nelson can fund anything and he says yes! But for David and Victoria, it has to have some substance.”

Among the Beckham brands are Victoria’s fashion and beauty range, as well as David’s $139 million lifetime deal with Adidas, endorsements including Tudor watches and his own whiskey with Diageo Haig Club.

Earlier this year, the 47-year-old British soccer star, who co-owns the Inter Miami CF team, signed the biggest deal of his life, with Authentic Brands Group (ABG) — which will co-own and manage his global brand , DB Ventures. CNBC reported that the company paid $269 million for a 55 per cent stake.

“The Beckhams are quite old-fashioned. They believe that everyone should make their own way up in the world,” said another source in the know. “Although they’ll always give their kids a leg up in terms of support and endorsement, they famously made Brooklyn work in a cafe to teach him about work ethics and to get some values. They really were keen to support his passion for photography, so they helped him get internships; then he got into cooking, and they’ve supported that.”

The Beckhams were unavailable for comment.

“There are cultural differences between the two families,” the source in the know added.

Reps for Nelson and Nicola did not comment.

Immediately after the wedding, Brooklyn, who has more than 14 million Instagram followers, changed his account handle to @brooklynpeltzbeckham, while Nicola is now @nicolaannepeltzbeckham.

Another family source said: “Brooklyn has become so, so close to the Peltzes, and to Nicola’s dad, especially. For Victoria, who is extremely close to Brooklyn, that has to be difficult.”

And as Brooklyn is close to Victoria, 48, Nicola is said to be just as tight with her mom, Claudia, who reportedly joined her on the movie set of “Lola James,” which Nicola wrote, co-directed and stars in. It’s not yet known when the film will be released.

“Claudia pulls a lot of the family’s strings.” said one Florida society source.

There’s also a bit of snobbery in the mix, according to multiple sources.

“The Peltzes may have thought, (the Beckhams) ‘will be easy’. The Beckhams are just a pop star and a footballer, but they’ve been doing this for 25 years — they’re very astute,” said the Florida society source.

“They can’t be controlled with the Peltz money.”

David’s fortune is now at around $750 million, Page Six is ​​told by an insider. Nelson, meanwhile, is reportedly worth $1.8 billion.

The Daily Mail last month pointed out how the initial love affair between Victoria and Nicola had seemed to cool down.

Back in 2021, Victoria liked 25 of Nicola’s Instagram posts in a three-month period, and Nicola liked 20 of hers in the same time frame.

Now, Victoria hasn’t liked a single post by Nicola since May 27 — but she has been active on the platform, posting photos of her latest fashion designs, as well as of her husband and other children.

While Nicola posted on Instagram from her honeymoon with Brooklyn, spent on a yacht with her family in Italy, Victoria liked none of them.

The newlyweds took Nelson, 80, and Claudia, 67, on their Italian honeymoon.

The Beckhams were holidaying at the same time on another yacht nearby and it was not clear whether the families saw each other.

The young couple wed in April at her family’s $103 million home in Palm Beach, with the bash covered by fashion bible Vogue.

As a sign of just how much the Peltz clan was in control of the wedding, there was reportedly a Wendy’s burger truck at the bash — Nelson is chairman of the board. Said the Palm Beach source: “The wedding was very much a Peltz production.”

Each family had their own table at the lavish reception, while the newlyweds sat at a separate table, Page Six is ​​told.

“Let’s face it, weddings are hard enough, but particularly tough when you’re dealing with two big wealthy, high-profile and complicated families,” said the highly-placed source.

Last Friday, Nicola shared a melodramatic selfie on Instagram in which she appeared to have tears running down her face.

“Sometimes I find it hard to show the sad bits of me,” she wrote, explaining that, growing up in a large family, her “strong parents” had “hammered it into me to not let people bring me down or hurt my heart .”

She then thanked her followers for their support the next day.

“Look, whatever happens, Nicola and Brooklyn are clearly crazy about each other — and that’s what matters right now,” said the source in the know. “Families go through these things, frankly, everyone thinks it will all sort itself out.”

This article was originally published by Page Six and reproduced with permission

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Australian house prices: 300 suburbs that have significantly dropped in value

As skyrocketing interest rates smash the Australian housing market, a dozen suburbs have already seen property prices fall by more than $500,000 since March.

PropTrack’s automated valuation model (AVM) data show more than 300 suburbs across the country where dwelling values ​​have experienced six-figure falls over the quarter.

In percentage terms, the worst-performing suburb in the country was South Hedland in WA’s Pilbara region, where units dropped by 24.81 per cent to a median value of $213,791 in June 2022 – a loss of more than $70,000.

That was closely followed by Booval in Queensland, where unit prices were down 24.64 per cent, or more than $121,000, to $370,231.

But it was wealthy suburbs in the capital cities that experienced the largest falls in dollar terms, with parts of Sydney’s northern beaches and eastern suburbs, Melbourne’s Mornington Peninsula, as well as inner-city Perth and Canberra all experiencing falls in excess of half a million dollars.

Former Prime Minister Malcolm Turnbull’s eastern suburbs home of Point Piper recorded the biggest fall in dollar terms, with units there losing nearly $715,000 in value – a 14.82 per cent fall from $4.82 million to $4.11 million.

Manly came in second place with losses of nearly $680,000 in house prices, representing a 13.8 per cent fall from $4.92 million to $4.25 million.

Ingleside on Sydney’s northern beaches saw house prices fall nearly $610,000 to $2.77 million, while Flinders in Melbourne suffered a $600,000 fall to $2.51 million.

Other suburbs where house prices fell by more than $500,000 include Clontarf, Dover Heights, North Bondi, Bronte, Rose Bay and Bondi Beach in Sydney, Peppermint Grove in Perth and Griffith in Canberra.

Close behind in the $400,000 range were the likes of Double Bay and Tamarama in Sydney, Red Hill – both in Victoria and Canberra – and Mulgoa at the foot of the Blue Mountains.

“Price falls are largely being led by the ‘high end’ of the market and higher value suburbs,” said PropTrack senior economist Eleanor Creagh.

“Manly and Tamarama in Sydney have all posted declines in quarterly values.

“Previously popular suburbs in the Central Coast and Melbourne’s Mornington Peninsula have also seen values ​​decline.

“It’s often the case that the upper end of the market experiences larger price declines, and at the moment it’s the suburbs that are home to more expensive properties that are seeing bigger price falls than more affordable properties.”

It’s not all bad news for homeowners, however.

House prices in some suburbs are still rising, led by Balmain East in Sydney’s inner west, which saw house prices rise more than $329,000 over the quarter to $3.48 million.

New Farm in Brisbane was second with house price growth of more than $295,000 to $2.65 million, followed by Coledale in NSW’s Illawarra region, which was up nearly $289,000 to $2.47 million.

Other suburbs where dwelling values ​​rose more than $200,000 were Newcastle East, The Rocks and Waterloo in Sydney, and Brisbane’s Bowen Hills, Tenerife, Highgate Hill and West End.

“While the current cycle of exceptional price growth is winding down Australia-wide, there are some parts of the country bucking the falling price trend,” said Ms Creagh.

“Parts of Brisbane, Adelaide and regional Australia are proving more resilient.

“With the pandemic driving a boom in remote working, housing markets in parts of regional Australia have emerged, with sea and tree changers looking for lifestyle locations, larger homes, and beachside living.”

The ongoing low supply of properties available for sale, combined with relative affordability advantages driving heightened demand, are causing prices to continue to rise in some regional areas or only just beginning to fail as the impact of higher interest rates weighs on the market.

“As the home price cycle has matured and interest rates are now rising, some suburbs in previous regional hot spots on the Sunshine Coast, and in the Southern Highlands and Geelong regions are starting to see larger price falls, with affordability advantages having been eroded since the pandemic onset,” Ms Creagh said.

“Suburbs like Lorne, Sunshine Beach, Minyama and Noosa Heads have all seen quarterly declines in unit or house values.”

She added it was a similar picture in the capital cities, with markets that led the upswing like the “lifestyle and coastal locations of the northern beaches and eastern suburbs now seeing larger price falls”.

It comes after the Reserve Bank hiked interest rates for the fourth month in a row on Tuesday.

The 50 basis-point increase at the central bank’s August meeting brings the official cash rate to 1.85 per cent, up from the record low 0.1 per cent it was up until May.

Governor Philip Lowe said the RBA had made the decision to raise the rates in a bid to drive down the current 6.1 per cent inflation figure.

In a statement, he said the path to returning to inflation under 3 per cent while keeping the economy on an even keel was something that would take time.

“The path to achieve this is a narrow one and clouded in uncertainty, not least because of global developments,” Dr Lowe said.

“The outlook for global economic growth has been downgraded due to pressures on real incomes from higher inflation, the tightening of monetary policy in most countries, Russia’s invasion of Ukraine, and the Covid containment measures in China. Today’s increase … is a further step in the normalization of monetary conditions in Australia.”

Already, the rise in interest rates has pushed house prices down in most major cities as borrowers stare down the barrel of higher monthly payments.

PropTrack’s Home Price Index shows a national decline of 1.66 per cent in prices since March, but some regions have seen much sharper falls.

“As repayments become more expensive with rising interest rates, housing affordability will decline, prices pushing further down,” Ms Creagh said earlier this week.

Last week, the Australia Institute’s chief economist, Richard Dennis, told NCA NewsWire the RBA was one of the biggest threats to the economy at the moment.

“If we keep increasing interest rates because inflation is higher than we’d like, we might cause a recession,” he said.

“Increasing interest rates won’t help us prepare for a slowing global economy … but they might actually further dampen the Australian economy.”

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– with NCA NewsWire

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