Archive | October, 2015

Melbourne building activity

Increase in building activity in Melbourne

As the movement to build residential apartment towers in Melbourne gains even more momentum, another property has traded as a residential development site. The properties at 256-260 City Road, Southbank reportedly changed hands last week for $27 million in a deal arranged by Lemon Baxter of Melbourne. The vendor was Apex Vic Pty Ltd, privately […]

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Eastern Melbourne Cityscope Quarterly Sales

Commercial Market Update – Eastern Melbourne Cityscope

The latest research from Eastern Melbourne Cityscope shows property sales have increased in the past three months. Sales recorded in the quarter ending October 2015 totalled $188.8 million, an increase from the $44.3 million recorded in the three months to July 2015, and an increase from the $164.9 million recorded to April 2015. This data brings the […]

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Docklands Cityscope Quarterly sales

Commercial Market Update – Docklands Cityscope

The latest research from Docklands Cityscope shows property sales have increased dramatically in the past three months, the result of several large sales. Sales recorded in the quarter ending October 2015 totalled $164.2 million, a substantial increase from the $11.2 million recorded in the three months to July 2015, but a decrease from the $220.5 million recorded […]

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2015_10_23_Auction_Table

Commercial Auction Results – Week ending 25 October 2015

Auction volumes fell over the week, with 19 commercial auction results recorded compared to 45 last week and 61 at the same time last year. The preliminary clearance rate across the 19 results was 47.4 per cent, lower than both the previous week at 55.6 per cent and one year ago at 60.7 per cent. […]

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Norwest Cityscope Quarterly Sales

Commercial Market Update – Norwest Cityscope

The latest research from Norwest Cityscope shows a substantial increase in the total value of sales over the last quarter. This increase is primarily due to the settlement of the property at 7 Maitland Place, Baulkham Hills. For the three months to October 2015, there were 38 sales at a total value of $73.5 million, […]

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AuctionPreview04

Sydney’s clearance rate drives down the capital city clearance rate, while Melbourne’s auction volumes show a temporary fall

CoreLogic RP Data National Auction Preview, week ending 1 November 2015 The final auction clearance rate last week fell to 64.9 per cent, down from 67.4 per cent the previous week and similarly, lower than one year ago (68.1 per cent). The fall in capital city clearance rate can be largely attributed to a weaker […]

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Chart 5

Inflation adjusted home values: CPI came in low over the September 2015 quarter and real home values remain below their previous peak in all capital cities other than Sydney and Melbourne

The Australian Bureau of Statistics (ABS) released quarterly Consumer Price Index data for September 2015 earlier today.  The data showed that headline inflation was recorded at 0.5% for the quarter and was 1.5% higher over the year. As the above chart shows, at 1.5%, headline inflation is below the Reserve Bank’s target range of between […]

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Table

New listings still increasing, however, less stock is being added to the market than one year ago

As at the week ending 25 October 2015, a total of 240,384 residential properties were listed for sale across the country.  Just over 40 per cent of these (103,852) were situated in one of the 8 capital cities. In comparison to the same period last year, total listings are -2.6 per cent lower nationally and […]

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20151026 Sydney

Melbourne’s clearance rate falls below 70 per cent for the first time since mid-February

The number of homes taken to auction this week increased to 3,086, up from 2,858 over the previous week, while the preliminary clearance rate of 66.6 per cent is down from 67.4 per cent last week, making this week the second lowest clearance rate recorded all year. The clearance rate has now been below the […]

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2015-10-26--NOTW

Sussex street office tower sold for nearly $60 million

At a price of approximately $60 million, the office tower at 160 Sussex street, Sydney has been sold. The sale was conducted by Simon Fenn and Ben Azar of Savills and Vince Kernahan and James Barber of Colliers International who put the property to market via an expressions of interest campaign that closed September 3rd, 2015. The […]

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