Commercial property in hot demand

The Real Estate Institute of Western Australia this week released its inaugural Commercial Property Commentary on industrial sales and activity in the state.

The report shows that while the total value of reported sales over the last financial year reached $3.78 billion, the number of sales actually dropped by 16 per cent on the previous year.

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Land Values Boom Around Eastlink Freeway

AVERAGE industrial land values in Melbourne’s eastern suburbs increased a staggering 41 per cent in the 2006-07 financial year in anticipation of the opening of the EastLink toll road next year. Industrial land values in the east now average $325 a square metre, up from $230 a square metre this time last year.

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Stubborn office owners press yields to record lows

OWNERS of Melbourne CBD office buildings held onto their properties in the 2006-07 financial year, on the back of rising rents and capital values, and a lack of alternative investment options. The gridlocked environment has resulted in record low yields being achieved for what limited major office buildings have become available.

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