Australand cuts apartment exposure
AUSTRALAND Property Group will continue to reduce its exposure to the soft apartment sector, even though it believes conditions for the Sydney and Melbourne property markets will improve.
Australand today reiterated its strategy of the past few years as it posted an 80 per cent jump in its first half net profit [...]
Vendor tax blamed for house sales slump
The New South Wales Opposition has blamed the drop in homes sales in the state on vendor tax.
June figures from the Housing Industry Association show a 38 per cent drop in annual housing sales, the lowest level for 15 years.
The association says interest rate rises and high household debt [...]
• Property developers building inner city apartments will tell you that a lot can change in three years. Back in 2002, real estate markets around the country were booming and so too were the pockets of those who took problem buildings and blocks of land and converted them into glamour inner city accommodation.
Promises of fantastic [...]
There’s no shortage of willing punters in million-dollar stakes
HOUSE prices have flattened, construction has peaked and growth in mortgage debt has slowed from the unsustainably high levels recorded a couple of years ago.
That’s not newspaper talk but comes straight from the mouth of ANZ Bank, which can hardly be accused of having an interest in [...]
Auctions raise bar… slightly
The dearth of commercial property auctions improved ever so slightly last week with more than $20 million worth of sales, according to leading property research house Australian Property Monitors.
In all, APM’s Commercial Price Guide, reported 42 commercial auctions Australia wide with 25 selling under the hammer with a clearance rate of [...]
Woolies looks at selling Australian centres
Woolworths, Australia’s biggest grocer, is considering selling distribution centres valued at up to A$1 billion ($1.1 billion) to raise money, after spending A$3.8 billion on acquisitions in the past year.
Woolworths has hired JPMorgan Chase & Co to advise on the possible sale of 11 of its 32 distribution [...]
Heritage seeking Australian partner
The Heritage Property Investment Trust is the latest US group to run its rule over Australia, with plans for a $US175 million ($232 million) joint venture with a local player.
If successful, it would join a growing line of similar joint ventures between US real estate investment trusts and Australian listed property trusts [...]
First home buyers flock back into market
First home buyers are coming back - and fast. As the house price bubble slowly deflates, the number taking out loans for first homes in Victoria has grown by more than half so far this year.
Lending data from the Australian Bureau of Statistics last week shows that nationally 2000 [...]
US hears the pop of our housing bubble
On Thursday we made it on to page one of The Wall Street Journal. The reason is that Wall Street is worrying about a US housing bubble and the consequences if it bursts.
The heading explains the interest in Australia: “Safe Shelter Australia Suggests End of Home Boom [...]
Homeowners the big winner
ANZ and NAB have no plans to cut their advertised interest rates but offer discretionary discounts on home loans / File HOMEOWNERS will gain from an interest-rate war among the major banks and analysts expect more lenders to join the fight for customers as the property market slows.
But beware of hidden fees [...]