Commercial and residential property news
Developer Stephen Roche has been left with a swag of property in the village of Penguin, Tasmania, after failing to sell a package of development sites – effectively the whole central business district of the picturesque but sleepy town.
Read moreWhen will the options for an inner city apartment end?
With Melbourne’s recent trend of building up, rather than out – another inner city apartment tower has started construction, this time in St Kilda Road.
Read moreLend Lease Corporation Limited (“Lend Lease”) today announced that its subsidiary, Bovis Lend Lease Limited (“Bovis Lend Lease”), has been appointed Managing Contractor by the Department of Finance and Deregulation for the design and construction of a new central office building for the Australian Security Intelligence Organisation.
Read moreCanberra mansion Cranleigh has regained the title as the territory’s most expensive property, after selling for almost $4.6 million to an as-yet-undisclosed party.
Read moreMADONNA has reportedly spent between $US33 and $US40 million for a home in New York’s ritzy Upper East Side.
Read moreTHE WIDOW of television producer Aaron Spelling is selling her Californian mansion, in a deal expected to be worth $US150 million – and set a new record price for the country.
Read moreLend Lease Corporation Limited (”Lend Lease”) today announced that its UK public private partnerships (“PPP”) business, Catalyst Lend Lease, has been selected as preferred partner to deliver the £1.2 billion (A$2.7 billion) Building Schools for the Future (“BSF”) project for the City of Birmingham, Europe’s largest metropolitan council.
Read moreStockland today announced the $87.5 million sale of its Stockland Parabanks shopping centre, as it looks at re-investment opportunities in key strategic growth areas.
Read moreDiversified property group Devine Limited (ASX: DVN) has today announced the strategic acquisition of a prime 30 hectare land parcel in Meadows, 40 minutes
drive south of the Adelaide CBD.
The rental market has tightened in Adelaide with the residential vacancy rate dropping below 1% in the month of December, according to the Real Estate Institute of SA (REISA).
Read moreRegional South Australia is proving a lucrative investment with house prices soaring in many areas over the December quarter, according to the Real Estate Institute of SA (REISA).
REISA President Robin Turner said the median house price for SA had broken through the $300,000 mark for the first time in December and prices in regional areas had played a big part.
As the rental market prepares for its busiest period of the year, Adelaide’s vacancy rate eased slightly to 1.63% for the month of November, according to the Real Estate Institute of SA (REISA).
Read moreJingle bells are ringing for South Australian homeowners after the Reserve Bank of Australia decided not to raise interest rates at its December meeting, the Real Estate Institute of SA (REISA) said.
Read moreDB RREEF, on behalf of its direct property mandate with AXA Wholesale Australia Property Fund (WAPF), today announced it had entered into the South Australian retail market with the acquisition of a property in Modbury for $18.5 million.
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The rental market in Adelaide has tightened again with the vacancy rate dropping to 1.06% for the month of October, according to the Real Estate Institute of SA (REISA).
This is down from 1.49% during the month of September and reflects what agents have been seeing in the marketplace.
Read moreAdelaide’s tight rental market is continuing through to the colder months with April recording a low residential vacancy rate of 1.01%.
Read moreHomeowners have survived the first half of 2007 without an interest rate rise after the Reserve Bank of Australia left rates unchanged at its June meeting.
Read moreThe Real Estate Institute of SA said they were disappointed that no taxation relief had been offered to homebuyers in this year’s State Budget, particularly for those hoping to buy their first property.
Read moreAdelaide’s tightest rental market in decades is showing signs of easing after the month of May recorded a vacancy rate of 1.44%, according to the Real Estate Institute of SA (RESIA).
Read moreThe Real Estate Institute of SA (REISA) was pleased to host the national Institute today to talk about national real estate issues and the strength of the South Australian market.
Read moreHomeowners have had a welcome start to the new financial year with interest rates remaining unchanged in July, the Real Estate Institute of South Australia (REISA) said today.
Read moreRECEIVERS have been called in for the developers of a prominent apartment project on Perth’s western fringe.
Read moreSouth Australia’s regional housing markets have continued their strong growth, according to the latest real estate statistics released today by the Real Estate Institute of SA (REISA).
Read morePerth still holds the title of the tightest CBD office market in the world, however Brisbane has slipped down the rankings from number 2 to number 6, according to Colliers International’s biannual Global Office Real Estate Review Midyear 2008.
Read moreThe Adelaide real estate market is red hot with no signs of abating, according to the latest June quarter housing figures released today by the Real Estate Institute of SA (REISA).
Read morePreliminary data by the Real Estate Institute of WA suggests Perth’s housing market was flat-lining in the December Quarter of 2007, with no movement either up or down for the last three months of last year.
However, REIWA President Rob Druitt said he expected the data to show a small overall increase once final settlements are processed.
Adelaide’s rental vacancy rate has stabilised at 1.34% for the month of June, according to the Real Estate Institute of SA’s monthly survey.
Read moreReal estate agents and property mangers are urging prospective tenants to be patient as the annual rental crush resurfaces in Perth.
President of the Real Estate Institute of Western Australia, Rob Druitt, said seasonal factors and the low vacancy rate for accommodation was causing stress with many over worked agencies struggling to keep up with enquiries.
Read moreHomeowners will be forced to tighten their belts in the wake of this month’s interest rate rise, the Real Estate Institute of South Australia (REISA) said today.
Read moreThe Real Estate Institute of Western Australia said today’s lift in the official cash rate by the Reserve Bank was not surprising but was disappointing.
REIWA President Rob Druitt said the WA property market was ‘cool and stabilising’ after the boom and did not require any further brakes applied to it.
Read moreREISA President Mark Sanderson said that winter had brought some much-needed relief to struggling tenants with the vacancy rate at 1.4% for the month of July.
Read moreSpecialist direct property funds management group Ray White Invest and private retail developer Blair Group today announced the joint acquisition of the Currambine Marketplace in Perth from Woolworths Ltd for in excess of $50m with proposed expansion plans to significantly increase the value of the property.
Read moreToday’s announcement by the Reserve Bank of Australia to leave interest rates unchanged is a relief after last month’s rise, the Real Estate Institute of South Australia (REISA) said.
Read moreResidential rental vacancy rates have averaged an all-time low of 1.9 per cent across Australia for the past two and a half years, according to data published today in the Mortgage Choice/Real Estate Institute of Australia (Canberra), Market Facts report, September quarter edition.
Read moreAdelaide’s residential vacancy rate has stabilised at a healthy 1.5% for the month of August, according to the Real Estate Institute of South Australia.
Read moreThe Real Estate Institute of Australia, based in Canberra, released its annual summary of the residential and commercial real estate market on 19 December 2007, providing a unique insight into what the market had done over the 2006-07 financial year.
Read moreThe Real Estate Institute of South Australia (REISA) has today welcomed the announcement to leave the official cash interest rate unchanged for the month of October.
Read moreThe Real Estate Institute of Western Australia has questioned the methodology and sales figure used in a recent international survey which claims Mandurah to be the most unaffordable city in Australia.
Read moreHouse prices in regional South Australia have eased in the September quarter but are still showing strong long-term growth, the Real Estate Institute of South Australia (REISA) says.
Read morePerth house prices increased by 1.1 per cent in the December quarter 2007.
This follows a 1.3 per cent rise in the September quarter. Together these quarterly increases have clawed back all of the fall in prices experienced in the June quarter.
Read moreHouse prices in Adelaide have gone from strength to strength in 2007 with the median house price reaching $320,000 in the September quarter.
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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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The Real Estate Institute of Western Australia does not support the recent interest rate rise by the Reserve Bank, believing it will adversely impact on first home buyers.
Read moreThe Real Estate Institute of South Australia held its Annual General Meeting yesterday evening, at which Mr Robin Turner was elected as the President for 2007/08.
Read moreFirst home buyers and mortgage-stressed families will be the first to feel the full force of today’s interest rate rise, the Real Estate Institute of SA (REISA) said.
Read moreReports out this week that property taxes have already smashed Treasury’s May budget forecasts, come as no surprise to the Real Estate Institute of Western Australia.
Treasury forecasts predict that property-related tax collections will rake in a staggering $2.04 billion from the 2005-06 financial year. This is up from $1.8 billion on previous estimates.
Read moreConfidence is booming in Adelaide’s real estate market as prices, rental demand and investment returns continue to flourish, according to the Real Estate Institute of South Australia (REISA).
Read moreThis year REIWA held its annual Awards for Excellence presentations at the gala dinner for the Insight Conference.
President of the Real Estate Institute of Australia, Mr Graham Joyce, presented the awards which give official recognition to the property industry’s top performers.
There are 14 overall categories, but the judges are not obliged to choose a winner in each category if they feel the relevant criteria has not been fully met by nominees.
Read morePerth’s resilient property market has bounced back from its modest slump in June, showing 2.4 per cent growth in price for the September quarter.
Data released today by the Real Estate Institute of Western Australia, is expected to show the current median price of $450,000 for the June quarter climbed to around $460,000, up by about $10,000 and marginally below the $465,000 median reached in the March quarter.
Read moreThe Property Council is today calling on local government across South Australia to support a
five point action plan that will green the built environment and reduce greenhouse gas
emissions.
Property Council Executive Director, Nathan Paine said, “A recently released report by the
Australian Sustainability Environment Council (ASBEC) shows that 23 per cent of Australia’s
total greenhouse gas emissions can be attributed to the built environment and its users.
THE SUPREME Court will decide whether a Victorian sheriff acted unconscionably when he sold a $630,000 Braybrook house for $1000 at a no-reserve auction.
In an extraordinary deal conducted at the Carlton sherrif’s office in December 2010, retailer Zhiping Zhou had his imposing near-new, six-bedroom home (pictured, right) sold to settle a $93,000 debt – reportedly accrued by another man Zhou had gone guarantor for, who is now based in China.
The court had directed the sheriff sell home be sold at a no-reserve auction after it failed to sell some years ago, Channel Seven reports.
Read moreMELBOURNE-based developer Drapac is understood to be in negotiations to buy a large Queensland farm.
Read moreSt Hilliers Contracting has been appointed to construct one of southeast Queensland’s $150 million mixed-use Mon Komo project, on the Redcliffe Peninsula.
Read moreSKATEBOARD king Stephen Hill is reported to have sold his Nobby Beach home to Melbourne-based pokies king, Bruce Mathieson, for an estimated $18 million.
Read moreMELBOURNE business identity Peter Rowsthorn has sold a horse racing property in Queensland for about $20 million.
Read moreA 208,000 hectare cattle station in Queensland’s Channel Country is expected to make more than $10 million for vendor the North Australian Pastoral Company.
Read moreProperty 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.
Read moreCB Richard Ellis had recruited leading property professional Bruce Baker to take on the role as Senior Managing Director of the firm’s Queensland operations.
Read moreInternet magnate Daniel Tzvetkoff has paid a "bargain price" of $28 million for a prestigious Gold Coast mansion, offloaded by former Sydney Swans ruckman and Breakfree founder Tony Smith.
Read moreCB Richard Ellis has been appointed to sell the prestigious Royal Pines Resort on the Gold Coast, in a move expected to attract significant interest from major developers and hotel investors.
Read moreQueensland has won three awards at the 2008 Real Estate Institute of Australia (REIA) National Awards for Excellence, held in Melbourne last night.
Read moreONE of the most prominent private heritage residential refurbishment projects ever to be undertaken in south-east Queensland, is attracting serious attention both locally and nationally.
Read moreThe Reserve Bank of Australia’s decision on 4 March to increase the cash rate by 25 basis points to 7.25 per cent will hurt many homeowners and lock out an increasingly number of first home buyers from the market.
Read moreQueensland’s residential property market may have finished 2007 on a high but more modest growth is expected this year, according to the Real Estate Institute of Queensland (REIQ).
Read moreQueensland’s unit and townhouse residential property sector mirrored the State’s house market last year with healthy price growth recorded across most parts of the Sunshine State.
Read moreQueensland’s Deputy Premier and Minister for Planning and Infrastructure, Paul Lucas, today visited the Vision site in Mary Street to inspect progress on the 79 level tower, which will be the city’s tallest building on completion in 2011.
Read moreAfter less than 100 days in office, the Rudd Labor Government is ending 12 years of neglect by delivering a $700 million injection of funds for the Ipswich Motorway.
Read moreCairns, Australia, 25 February, 2008: As Multiplex Living’ s Bluewater master planned community at Trinity Beach, 20 minutes north of Cairns, continues to rapidly take shape, sales to date have made it one of North Queensland’s most highly sought after lifestyle developments.
Read moreDB RREEF today announced that global mining group Rio Tinto has signed on as the major tenant for its new premium office development, 123 Albert Street, Brisbane, QLD.
Read moreThe GPT Group is pleased to announce the demolition of Indigo House and the construction of a new 44-level commercial office tower located at 77 Eagle Street in the Brisbane CBD.
Read moreListed diversified property group Trinity (ASX: TCQ) and its wholly owned development subsidiary Consolidated Properties today announced plans for their latest project in thriving Far North Queensland, a $25 million housing estate at Cooktown.
Read moreDB RREEF Wholesale Property Fund (DWPF) today announced it had received development application (DA) approval from Thuringowa City Council to proceed with its $70 million redevelopment at Willows Shoppingtown in Townsville, QLD.
Read moreThe 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.
Read moreWith 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.
Read moreNine 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.
Read moreNine 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.
Read moreListed property developer Devine Limited (ASX: DVN) has entered into a contract to sell its exclusive Hideaway @ Currumbin site on the Gold Coast for $75 million.
Read moreA private consortium associated with the developers of Casuarina Beach in northern NSW has settled its $53 million purchase of part of Hope Island Resort on the Gold Coast from Mirvac Group.
Read moreISPT has acquired the 40,429 square metre tower located at 345 Queen Street for a purchase price of $385 million (excluding acquisition costs). The property has 34 upper levels and a 5 level annex building with separate entrance to Queen Street. Parking for 270 cars is provided over 4 basement levels.
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