The Westpac Melbourne Institute of consumer confidence plunged by 8.3 per cent this month, to land at 103.1 point, its lowest point for more than a year.

A new survey released this week suggests business travellers could pay up to 14 per cent more for hotel rooms in Sydney, and up to 4 per cent in Melbourne for their local accommodation.

Stockland today announced the sale of its 50 per cent interest in three New Zealand shopping centres to AMP New Zealand Property Retail Limited (AMP) for A$322 million, as it looks at re-investment opportunities in key strategic growth areas in Australia and the UK.

Stockland Halladale, the recently established diversified property group created through the acquisition of Halladale Group plc by Stockland, announces it has agreed to purchase 3-8 St Andrew Square, Edinburgh, for £21.25M.