Australia’s Population Boom Continues, We’re Now at 22.5 Million

AUSTRALIAN Bureau of Statistics show the nation’s population surged 1.4 per cent last year to 22.5 million.

Victoria led the population surge recruiting 75,000 new residents in the way of immigration, more babies and a net increase from other states. The state now has 5.6 million people.

Mining states Western Australia (which gained 67,400 residents) and Queensland (66,500) were the next fastest growing states.

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Village Fair SC, Queensland, Sells For $17.5 Million on 8.9 Per Cent Yield

QUEENSLAND’s Village Fair Shopping Centre, in Regents Park, sold today for $17.5 million.

The centre sold on a yield of 8.9 per cent, based on the annual rental of $1.55 million.

Village Fair includes a Supa IGA supermarket and 26 specialty stores.

A statement released by the selling gent this week is copied below:

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Cromwell Offers Stake in Brisbane Property

Property trust and funds manager Cromwell Group (ASX: CMW) has launched a PDS to raise up to $91 million in its new unlisted Cromwell Riverpark Trust.  The Trust has entered into conditional agreements with FKP Property Group to acquire the site at 33 Breakfast Creek Road Newstead, Brisbane on which construction of a 30,904 sqm, A-Grade commercial office and retail building has commenced.

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Affordable suburbs star performers

The latest Real Estate Institute of Queensland (REIQ) figures confirm that the State’s most affordable suburbs are also some of its star property performers.

REIQ figures show that in the 12 months to the end of September 2007, the majority of affordable suburbs in each major regional centre not only had median house prices under $300,000 but also recorded double digit percentage growth.

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Units record double digit growth

With median house prices in many parts of Queensland now more than $400,000, it is still possible to buy a unit or townhouse for less than $250,000 in one third of the State’s major centres.

And Real Estate Institute of Queensland (REIQ) figures released today show that this segment of the residential property market is continuing to perform well with double digit percentage growth recorded in many parts of the State.

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Resources boom underpins top suburbs

Nine of the top 10 performing Queensland suburbs over the past year are located in or close to resource-rich areas, according to the Real Estate Institute of Queensland (REIQ).

Queensland’s residential property market has recorded its fourth consecutive quarter of consistently healthy price growth.

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