Undabri Merino Stud Farm Sells For More Than $13 Million
A Queensland based property investor has paid more than $13 million for the former Undabri Merino stud farm in south-east Queensland.
Read moreReal Estate News
Housing affordability sidelined in Budget
Tuesday’s State Budget missed an opportunity to comprehensively address the issue of housing affordability, according to The Real Estate Institute of Queensland (REIQ).
Read moreRegional centres set Qld property market pace
If you want to find the star performers of the Queensland property market, you just need to look to the north and to the west.
Read moreREIQ wins Consumer Protection Award
The Real Estate Institute of Queensland (REIQ) has won a 2007 Queensland Consumer Protection Award.
Read moreHousing affordability strategy welcomed
The Real Estate Institute of Queensland (REIQ) welcomes the release today of the State Government’s housing affordability strategy.
Read moreRate rise blow for affordability
Housing affordability has taken another hit following the Reserve Bank of Australia’s (RBA) decision today to increase the cash rate by 25 basis points to 6.5 per cent.
Read moreBest vying for State’s top awards
Real estate agencies big and small, residential and commercial, as well as agents new and established are vying for the State’s most prestigious property awards.
Read moreInterest rate rise
The Reserve Bank of Australia’s decision today to increase the cash rate by 25 basis points to 6.75 per cent is not surprising following the release of inflation figures last month.
Read moreLend Lease to Defer Asset Sales
As previously advised Lend Lease Corporation (“Lend Lease”) is not a forced seller of assets and has no intention of selling assets at sub optimal values. Given current market conditions Lend Lease does not believe it is appropriate to sell certain assets, including some equity investments in Public to Private Partnership projects in the UK this financial year. Revised guidance after the removal of these items and other adjustments for the year ending 30 June 2009 is Net Operating Profit after Tax of circa A$300 million.
Read moreGenuine Savings Now Required For Most Mortgages
Many Australians are unaware that the vast majority of lenders now require loan applicants to provide evidence of regular, genuine savings and at least a 5% deposit outside of any grants or other incentives*.
Read moreMacquarie Leisure Delivers Solid Third Quarter Trading Results
Macquarie Leisure Trust Group (ASX:MLE) today announced unaudited total revenue and earnings results by division for the nine month period ended 31 March 2009.
Read moreBiggest IKEA in Southern Hemisphere Planned For Former Sydney Rubbish Tip
IKEA is set to build a 37,000 square metre megastore at Tempe, in Sydney’s south.
Read moreMacquarie CountryWide Sells Assets in Australia and the USA
Macquarie CountryWide Trust (ASX:MCW) today announced it has signed unconditional contracts for two disposals in Australia totalling A$14.7 million. A further settlement has also occurred on the US portfolio sale to an affiliate of Inland Real Estate Acquisitions Inc (Inland), with the completion of the sale of eight assets for US$144.1 million (A$198.9 million), bringing the total value of this transaction to US$264.1 million (A$380.8 million).
Read moreRBA Holds Official Cash Rate at May 2009 Meeting
The Reserve Bank of Australia (RBA) has announced today that the Official Cash Rate will remain unchanged this month. Therefore the Official Cash Rate continues at 3.00%.
Read moreDouble Bay Residents Protest 20-Level High Rise Towers
RESIDENTS of ritzy Double Bay, in Sydney’s eastern suburbs, were out in force on Sunday May 3, opposing the development of twin 15-storey towers, on the site of the Stamford Plaza Hotel in Cross Street.
Read moreAustraland Secures Refinancing Approvals
Australand has secured approvals from three domestic banks for a total of $350 million which, subject to documentation and together with existing undrawn facilities, will provide the Group with sufficient capacity to repay the $563 million CMBS facility maturing on 25 June 2009. Existing undrawn facilities and cash at bank as at 31 March 2009 was in excess of $560 million. Commitments have also been secured to renew $100 million of the existing $150 million of unsecured facilities expiring in 2009.
Read moreGE Voices Concerns at Rudd Bank Loophole
ONE OF the world’s biggest companies – and land owners – General Electric, has called for the Rudd Government to fix a loophole in the proposed $30 billion taxpayer-funded Australian Business Investment Partnership, otherwise known as the “Rudd Bank”.
Read moreWork to Start on 20,000 Social Houses
Federal Minister for Housing, Tanya Plibersek and NSW Premier Nathan Rees today announced that work can begin on the construction phase of the Rudd Government’s Nation Building Economic Stimulus Plan for an extra 20,000 social houses.
Read more$170 Million in Commercial Property Transactions This Week, Perth and Melbourne
LEND LEASE managed Australian Prime Property Fund has sold a half share of Melbourne’s 1 Spring Street office building in the Melbourne CBD for about $65 million, reportedly to a high net worth private investor.
Read moreTop Ten Complaints of Apartment Living, New South Wales Office of Fair Trading Analysis
A bedroom-based trout farm, a horse kept in an apartment, and an owners’ corporation deadlocked over taking action against a nudist neighbour – these are just a few of the strangest complaints received by the Office of Fair Trading about strata living in NSW.
Read moreBanks Not Passing Interest Rate Falls on, Because They Have Increased Market Dominance Recently
Federal Shadow Minister for Housing and Local Government, Scott Morrison, said today’s official housing finance figures for February show the banks have increased their market share of new housing loans to the highest level on record, creating a new low point for competition in our home mortgage market.
Read moreStockland Sells Sydney North Shore Development Sites to Meriton, at a $7 Million Loss
PROMINENT Sydney-based developer Harry Triguboff has paid $17.15 million for a residential development site on Sydney’s North Shore.
Read moreRBA Drops Official Interest Rate by 25 Basis Points, to 3 Per Cent, at April Meet
THE RESERVE Bank of Australia has decreased Australia’s official interest rate by 25 basis points, to 3 per cent, its lowest rate since March 1960.
Read moreNSW Needs Planning Reform, Says HIA
According to analysis released by the Housing Industry Association today, delays in planning approval processes for single detached houses are costing mum and dad applicants thousands of dollars, stifling housing activity, impacting on employment and dampening the state’s economic health.
Read moreMore Pressure on Housing Starts in NSW
The HIA New South Wales Outlook, the state’s most comprehensive report card on the residential sector, points to a rough short term outlook for housing before an improved picture hopefully emerges from mid 2009.
Read moreGPT Sells Three Assets Including Tasmania’s Cradle Mountain Lodge
The beleagured General Property Trust has sold three assets for $47 million.
Read moreHIA Housing Report Card: No NSW Recovery in Sight
HIA, Australia’s largest building industry association, today released the most comprehensive report card available on the New South Wales residential sector.
Read moreLiquidators Called For Miller Homes, But Wincrest Homes Back in Business
SYDNEY-based home builder Wincrest Homes has resumed construction of almost 200 homes, after going into voluntary administration on January 2 this year.
Read moreKit Home That Sat Alongside Opera House For Sale
It sat alongside Sydney’s Opera House for a month, and now it can be yours – as long as you pay to relocate it.
Read moreSlight improvements fail to dent NSW rental crisis
Sydney recorded a slight improvement of 0.2 percent in June driven largely by a half a percent improvement in rental vacancies in the inner suburbs.
However in outer Sydney the outlook remains poor with only marginal increases in the number of vacancies in the middle and outer suburbs of the city.
Read moreLend Lease Wins Major Property Contract with BP International
Lend Lease Corporation Limited (“Lend Lease”) has today announced the execution of a new contract with BP International Ltd (“BP”). The new contract continues Bovis Lend Lease’s 12 year alliance with BP to provide project management services for the construction and maintenance of BP’s retail network across 10 European countries.
Read moreReal estate agents you can trust
The most innovative and professional real estate agents in NSW have been revealed with the announcement of the finalists of the REINSW Awards for Excellence.
The Awards recognise excellence in service, creativity and commitment in categories including residential sales, property management, auctioneering, marketing and community service.
Sydney only getting worse for renters
Sydney renters face an even bleaker future with vacancy rates falling yet again according to the latest figures released by the Real Estate Institute of NSW
Read moreAustralian House Prices Unlikely to Collapse, RBA Says
THE RESERVE Bank of Australia said strict lending conditions by Australian Banks, will prevent Australia’s housing market following the same southward direction of major countries overseas.
Read moreSydney Businessman Pays Record $20m for Potts Point Apartment
An undisclosed Sydney businessman is believed to have smashed the record price paid for an apartment in Australia.
Read moreAustralian Hotels Dominate in Global Survey
PERTH is the world’s strongest performing hotel market, according to a new global survey from adviser Deloitte.
Read moreColliers Opens Penrith Office
Colliers International has announced an expansion of the company’s operations in Penrith, Western Sydney with the addition of a specialised commercial agency team and the appointment of a new Director to bolster and expand the existing Consultancy and Valuation business.
Read moreGPT May be Close to Appointing New CEO
FORMER ST George Bank executive Michael Cameron has emerged as the possible next chief executive of the beleagured General Property Trust group. The Australian Financial Review reports GPT wants to appoint someone to the position before the groups’ annual general meeting in May.
Read moreWater harvesting innovation at Greystanes
DEXUS Property Group today announced it had signed an innovative agreement with Boral to provide stormwater harvesting and ground water facilities to the Cumberland Country Golf Club from its new 47.4 hectare industrial development site in Greystanes NSW.
Read moreAffordability at Near Record Lows, Reform Urgent, Says HIA
The HIA-CBA First Home Buyer Affordability Index improved by 4.1 per cent in Sydney during the March quarter.
Read moreChadstone Beats Several Westfield Contenders to Remain Country’s Best Performing Shopping Centre
DESPITE the gloomy economic backdrop, Australians spent more than $14 billion within the country’s top 20 centres last year, considered a strong result.
Read moreAustralian Unity & Australand Lodge DA for Bowral Retirement Village
Joint venture partners Australian Unity and Australand have lodged a DA with the Wingecarribee Shire Council in the Southern Highlands for a new retirement living community on the 17 hectare site of the former Our Lady of the Sacred Heart centre on Centennial Road, in Bowral.
Read moreCity Pacific Posts $74.3 Million First Half Loss. Releases Financial Results.
City Pacific Limited (City Pacific or the Company) today announced a net loss of $74.3 million for the half year ended 31 December 2008.
Read moreRichmond-Tweed Heads Region, NSW, Fastest Growing Precinct in State
Data showing that population growth in the Richmond-Tweed region has been faster than any other part of NSW in the past two years is evidence that Australians are prepared to move in search of a better lifestyle according to the Real Estate Institute of New South Wales (REINSW). It also accords with the latest property prices released by the Institute, which show house prices in the area grew 11% in the last quarter – among the highest of any regional location.
Read moreThree Agricultural Properties Sell
THREE agricultural properties have sold recently, including New South Wale’s Gundy farm and homestead, which sold to local farmers for $5 million.
Read moreWoollam Constructions Secures $11 Million Tweed Heads Aged Care Redevelopment Site
Woollam Constructions has been appointed to undertake the $11 million redevelopment of Southern Cross Care’s Aged Care Facility at Tweed Heads South in northern New South Wales.
Read moreABC Learning Centre Given a Month to Mediate $100 Million US Dispute
THE RECEIVERS of failed child care operator ABC Learning Centres have been given another month to settle a $US100 million dispute with US developer RCS Capital Developments.
Read moreStockland Swaps North Sydney Tower for Sydney CBD Office Building
Stockland has successfully finalised the $450 million swap of its mixed use Northpoint building in North Sydney, for a Castlereagh Street office building in the Sydney CBD.
Read moreAuction Clearance Rates Fall in Sydney and Melbourne, according to APM
AUCTION clearance rates fell in both Sydney and Melbourne this weekend, according to new research from Australian Property Monitors.
Read moreCity of Sydney Sustainable Sydney 2030 Initiative
The City of Sydney is planning now to ensure we achieve the Sydney we want by 2030.
Read moreAustralia’s Population Could Reach 42.5 Million by 2056
AUSTRALIA’s population is expected to hit at least 30 million by 2056, even using the most conservative estimates from the Australian Bureau of Statistics, latest Social Trends reporting has found.
Read moreSt Hilliers readies $30M industrial property for new fund
St Hilliers Property is readying a new industrial warehouse facility in Smeaton Grange, south western Sydney as a seed asset for St Hilliers Funds Management Limited’s fourth property fund.
Read moreGerry Harvey Cancels Property Revaluations
HARVEY NORMAN founder Gerry Harvey said he will not revalue the company’s $1.25 billion Australian property portfolio, despite evidence values in the commercial property sector have fallen.
Read moreThe GPT Group officially unveils Rouse Hill Town Centre
Rouse Hill Town Centre combines the traditional values and streetscape of a contemporary market town with the latest in shopping, dining and lifestyle choices.
Read moreMacquarie CountryWide Trust Sells Five Assets For $92.6 Million
Macquarie CountryWide Trust (ASX:MCW) today announced it has entered into unconditional contracts with various parties for the sale of five assets (four in Australia and one in the US) for A$92.6 million [1], reflecting an average initial yield of 7.7%. The sale proceeds will be used to reduce debt and position the Trust to meet its refinancing obligations in the second half of 2009.
Read moreFKP Buys a Piece of East Sydney History
FKP Property Group’s Funds Management division today announced it had purchased historic Chard House at 171 William Street East Sydney for $7.15 million.
Read moreCB Richard Ellis Appoints New Director Asset Services
CB Richard Ellis’s former Auckland Managing Director Warren Hutt has relocated to Sydney to head the company’s Asset Services division in the Pacific Region.
Read moreTelstra Renews Office Leases in Sydney and Melbourne
TELSTRA has renewed its office leases at three major office buildings on Australia’s east coast.
Read moreGPT Announces New Building For Pyrmont, Sydney
The GPT Group is pleased to announce workplace6, an 18,000 sqm waterfront office complex in Pyrmont, Sydney, currently being developed by the Group in conjunction with the Citta Property Group, has been awarded the first 6 Star Green Star – Office Design v2 Certified Rating by the Green Building Council of Australia.
Read moreStockland December 2008 Half Year Results
STOCKLAND DECEMBER 2008 HALF YEAR RESULTS
Read moreProperty a safe bet in uncertain times
Investors looking for a sound alternative to the stockmarket would be wise to consider residential property according to the Real Estate Institute of New South Wales (REINSW).
Read moreDistressed Sales on the up, Colliers Says
A GROWING number of distressed property assets are the focus of Colliers International in 2009 who have stepped in to manage portfolio’s savaged by the global financial crisis.
Read moreHome ownership is worth any initial pain
Sydney’s ranking as the 11th least affordable city in a survey of international housing is due its popularity and the resulting high demand for property, but buyers should not be put off as housing realises excellent capital growth according to the Real Estate Institute of New South Wales (REINSW).
Read moreRBA Drops Cash Rate by 1 Per Cent at February 2009 Meeting
The Reserve Bank of Australia has reduced the country’s cash rate by 100 basis points to 3.25 per cent at its February meeting. This sees the cash rate hit a 45 year low. The next RBA meeting is scheduled for March 3.
Read moreLand taxes need cutting
The Real Estate Institute of New South Wales has called on the State Government to further reduce land taxes on residential properties as a means of bringing sorely needed property investors back into the market.
Read moreSydney apartment market kicks into action
New housing data released by the Australian Bureau of Statistics shows that the Sydney market is gathering pace, fuelled by a demand for apartments significantly outstripping that for single dwellings. In November, approvals were granted for the building of 1805 apartments in Sydney, more than tripling the October figure.
Read moreOccupancy down in key Australian hotel markets: ABS
In the latest release from the ABS for the September quarter 2008, the overall trend is a widespread fall in occupancy in Australia’s hotel markets.
Read moreBecton Acquires Two Sydney Industrial Properties for $38.45 Million
Becton Property Group (“Becton”) today announced that its Becton Industrial Fund (or “Fund”) has acquired two industrial properties in Sydney for a total of $38.45 million.
Read moreTips to Take Charge of Your Mortgage
Mortgage Choice hopes to restore some consumer confidence in the New Year with top tips to help Australians take charge of, and better manage, their mortgage in 2009.
Read moreREINSW Sets up Holiday Rental Chapter
The Real Estate Institute of New South Wales (REINSW) is supporting agents who manage holiday and short term residential properties in the State by setting up a Holiday Rental Chapter which will develop best practice guidelines for holiday rental operators.
Read moreStockland Sells Four Shopping Centre Sites For $44 Million
Stockland today announced the conditional sale of four retail development sites to a private development group for a total consideration of $44 million.
Read moreCouncils crying poor while hoarding hundreds
The Property Council of Australia has criticised advertisements by the Local Government Association of NSW and Shires Association of NSW calling on the NSW Government to delay reforms which would stop councils hoarding taxpayers’ money as a misguided attempt to preserve an unsustainable and unfair funding system.
Read moreMacquarie DDR Announces Strategic Review
The Board of Macquarie DDR Management Limited, Manager of the Macquarie DDR Trust (ASX:MDT) today announced it will initiate a strategic review of MDT with the specific objective of seeking to maximise unitholder value, which may include realising assets and returning capital to unitholders.
Read moreSydney Prestige Residential Round up
Sydney’s top end was on fire this weekend, with around $27 million of real estate on the prestigious north shore
Read moreRBA Drops Cash Rate to 4.25 Per Cent at December Meet
The Reserve Bank of Australia (RBA) today announced the Official Cash Rate will drop 100 basis points.
Read moreGlobal Television Leases in Sydney
Television services provider Global Television has agreed to lease about 10,00 square metres of space at the $123 million Television Production Complex, being developed on the Australian Technology Park in Sydney’s southern suburb of Redfern.
Read moreLand Release the Key, Says HIA and RP Data
HIA, Australia’s largest building association and RP Data, Australia’s leading property information service have formed an alliance to produce a new land report that will help fill the gap in understanding of vacant land markets across Australia.
Read moreBuilding a Bridge in NSW
The New South Wales government has announced plans for the development of a bridge similar to the Iron Cove Bridge, which links Sydney’s inner western suburb of Drummoyne to Rozelle.
Read moreMajority of ABC Learning Centres to Continue Trading in 2009
The Receiver of ABC Learning Centres Ltd, Mr Chris Honey of McGrathNicol, has written to ABC parents and staff today confirming that a majority of the Group’s child centres will continue operating in 2009.
Read moreRental situation at crisis point
Sydney’s year-long rental drought has worsened with vacancy rates in the city falling to 0.9% in October, the lowest level recorded by the Real Estate Institute of New South Wales (REINSW) in the seven years it has been collating data on the availability of rental properties.
