Building approvals were down by 2.8 per cent in October due to a 10.4 per cent dip in the multi-unit segment. Detached house approvals posted a very small rise of 0.9 per cent to a level of 9,458.

Macquarie Office Trust (ASX:MOF) today announced an update of the Trust’s activities outlining leasing success and capital management initiatives for the period since 1 July 2007 and providing an outlook supporting continued solid performance from the Trust’s portfolio.

Valad Property Group has made $42.9 million selling two industrial Melbourne industrial assets it bought two years ago.

Former Australian fast bowler Craig McDermott could be forced into bankruptcy with reports his development company Maxen owes failed property group Bridgecorp more than $22 million in personally guaranteed loans.