Charter Hall snaps up Southgate Plaza for $60m

CHARTER Hall Retail has bought the Southgate Plaza Shopping Centre in Adelaide from Industry Superannuation Property Trust for $60 million, in a deal foreshadowed by The Australian. Charter Hall has also settled on the sale of its Polish properties for EUR174.5m ($246.7m), in a transaction it flagged at its annual results in August. The proceeds […]

Deagues to expand in Adelaide

MELBOURNE’S Deague family is planning a new hotel and apartment project in the Adelaide CBD after purchasing a development site from a joint venture between Goodman Group and Hills Industries for a price speculated at between $5 million and $6m. This week the Deagues’ Asian Pacific Group purchased the 1653sq m development site, located next […]

Dexus secures $290m equity from super fund

Dexus Property Group’s main wholesale property fund has secured a $290 million equity commitment from State Super Financial Services (SSFS). The move comes as Australian real estate investment trusts emphasise their capacity to raise third party capital, which provides them with a valuable fee stream and backing for their major projects. The capital secured from […]

State-by-state guide to first-home buyer grants as SA offers $23,500 new home carrot

South Australian first-home buyers have the chance to secure $23,500 from the state government, provided they build a new home. The $23,500 handout comprises a doubled first-home owner grant of $15,000 for contracts entered into on or after October 15 and up to a value of $575,000, plus a further $8,500 housing construction grant (HCG). The […]

Homeowners confident but luxury market loses lustre

Australia’s housing recovery in 2012 is likely to remain a “main street” affair for some time to come. Luxury homes worth more than $1 million in non-mining states, which represent less than 5 per cent of all sales, will face structural headwinds deriving from the downgrade in earnings expectations in the financial services sector. Based […]

Devine helps South Australian home buyers supersize their deposit

Leading developer Devine help ‘supersize’ homebuyer’s deposits in a bid to help South Australian buyers enter the property market quicker and more easily. Under the initiative, Devine will double buyers’ deposits by up to a maximum $10,000 on any new home in Devine communities in South Australia. Combined with the State Government’s new Housing Construction […]

RP Data identifies Australia’s Top 25 Richest Suburbs

In the weekly RP Data Property Pulse out yesterday, research director Tim Lawless revisits one of the all-time favourite property-related topics – Australia’s Property Rich List. Using median values analysis for houses rather than median prices, Mr Lawless identifies where the most expensive locations are in Australia for home ownership. In compiling the data, he has […]

Fillip for rising home prices

House prices, already rising at their fastest rate in more than two years, could gather more pace thanks to the Reserve Bank of Australia’s cut in interest rates. Capital city dwelling values rose by 2 per cent in the three months to September, according to RP Data-Rismark, in a sign the central bank’s easing of […]

Office rents ‘to fall as jobs drop off’

Office rents could fall 5 per cent over the next four years as white collar jobs growth outside the mining sector flags. The major office markets of Sydney and Melbourne will be among the worst hit with effective rents declining by between 8 per cent and 9 per cent, according to a Morgan Stanley analysis. Adelaide, […]

No suburbs with house prices under $420,000 within 20 kilometres of Sydney, Canberra and Darwin: RP Data

Buying a house in the cheapest suburb within 20 kilometres of the CBD will still cost at least $420,000 in Sydney, Darwin and Canberra, according to an RP Data report. Granville, south of Parramatta, is the cheapest suburb within 20 kilometres of Sydney’s CBD, with a median house price of $445,424. In Canberra, the cheapest […]

WA and Queensland housing markets to get demographic boost, but four years of cloudy skies for Victoria: BIS Shrapnel

Immigration trends, vacancy rates, housing undersupply and employment prospects all favour Queensland and Western Australia to lead the next phase of housing market growth over the next two to three years, according to BIS Shrapnel. But the stars are not lining up in Victoria, with BIS Shrapnel’s team of forecasters and economists tipping up to […]

Four reasons Australia can’t keep up with housing demand

The Reserve Bank released its September quarter bulletin, which included a superb article outlining the bank’s research around supply-side constraints across the capital cities of Australia.  The report identifies four factors that are impediments to a responsive housing supply across the country: Complexity of the planning process that can create uncertainty, lengthy delays and risk for developers […]

Online residential listings rise 1.5% in August to 373,510, led by Melbourne, Sydney and Canberra

Vendors appear hopeful of better fortunes this spring selling season with the total number of residential properties listed for sale online rising 1.5% over August to reach 373,510, according to figures from SQM Research. This contrasts starkly with the same time last year, when listings fell 3.8% from 377,213 in July 2011 to 362,740 in […]

August puts a stop to national dwelling value growth: RP Data-Rismark

Dwelling values across Australia were unchanged in August, after values recovered slightly in June and July following the RBA’s back-to-back rate cuts. “During the seasonally slower month of August, value growth flat-lined,” RP Data research director Tim Lawless says. While Adelaide was the strongest performer during August, it was not among the seven of Australia’s eight capital cities registering capital gains […]

Mixed results as property took longer to sell in July than in June in all state capitals: APM

The average number of days property is lingering on the market increased in all state capital cities in July, according to APM. The increase was most dramatic in Hobart, where properties took an average of 185 days to sell in July, compared with 146 in June. Darwin in the Northern Territory was the only city […]

Queensland and NSW dominate the RP Data suburb locations where it is cheaper to buy than rent

There are between 238 and 1,759 suburbs across Australia where it’s potentially cheaper to buy than rent, according to RP Data research. Queensland and NSW dominate the comprehensive list, as do regions over capital city suburbs. It’s the outcome of home values being 5.9% lower than their previous highs and rental rates having continued to […]

Perth nudges out Sydney as the capital with the highest-priced land per square metre

In real estate there is no truer commodity than vacant land.  Houses and units inherently show a qualitative bias; the value of a house or unit is influenced by various factors such as the size of the home, the state of repair, the architecture, the attributes of the home such as number of bedrooms and […]

Housing affordability at highest level since September 2009, led by improvements in Perth and Adelaide: HIA/CBA index

Perth and Adelaide have led a sixth straight quarter of improving housing affordability in the June quarter, taking the HIA-Commonwealth Bank Housing Affordability Index to its highest level since September 2009. The index improved by 1.1% (0.7 points) in the June 2012 quarter to be 10.6% (6.0 points) higher over the year with an index […]

Melbourne and Sydney lead 4.9% monthly drop in online residential listings suggesting market may be entering “recovery mode”: SQM Research

An almost 5% drop in residential properties listed for sale online over July, led by big monthly falls in Melbourne and Sydney, may indicate the housing market may be close to entering “recovery mode”, according to SQM Research. SQM Research calculated that online residential listings fell by 4.9% in July led by falls in Melbourne […]

Investor’s must-know guide to Australia’s top 50 rental suburbs

Brisbane’s Fortitude Valley has topped the list of suburbs with the highest proportion of rentals, with 70% of dwellings occupied by renters. It narrowly pipped Canberra’s City at 69.7% and Perth’s Northbridge at 69.3%. The other 30% of Fortitude Valley is made up of 20.6% owned with a mortgage, 6.7% owned outright, 2.3% not stated […]

Queensland and Tasmania the most extreme buyers’ market, with conditions balanced in Victoria and the ACT: CBA-RP Data

Buyers still hold the balance of power when it comes to buying homes according to the May quarter update to the Commonwealth Bank-RP Data Home Buyer’s Index (HBI) with Sydney still rated as a buyers market while Melbourne is rated as balanced. While conditions favour buyers, the latest index shows a modest improvement over the […]

Property investors guide to the suburbs dominated by tenants – highlighting private and government landlords

By Tim Lawless Friday, 20 July 2012 The proportion of dwellings that are rented has remained fairly consistent across Australia over the past decade, based on figures from the 2011 census. Rented dwellings comprised 27.6% of all occupied homes back in 2001; 10 years later the proportion had risen by only slightly more than one […]

Lang Walker Strikes Again- the counter cyclical guru snaps up DA approved Milton site.

SYDNEY-BASED billionaire Lang Walker is in the final stage of negotiations to sell industrial properties to Tony Pitt’s 360 Capital Property Group for close to $150 million. Yesterday, in a separate deal, Mr Walker’s Walker Corporation announced it had bought land in Brisbane’s inner west to embark on a new a $100 million-plus development with […]