REAL ESTATE

Australia's construction industry remained in the red in February, although the rate of contraction eased, with the Australian Industry Group Australian Performance of Construction Index (Australian PCI) in conjunction with the Housing Industry Association, edging up 4.4 points to 44.6. Readings below 50 indicate a contraction in activity.

Damaged infrastructure in Brisbane should have federal government support to help Queensland’s struggling property industry.

The forecast for Adelaide's industrial market is positive but cautious with smaller assets located in prime locations expected to show the strongest performance in the short term according to the latest CBRE Industrial MarketView report.

Melbourne architectural firm, Denton Corker Marshall, has bagged the global design prize under the Tall Buildings category at the 2011 MIPIM Architectural Review Future Projects Awards for its complex in Dubai.

Residential land spanning close to 50 hectares is now up for sale amounting to more than $30 million.

Office rental rates in Australia are expected to rise as the market finally shakes off the effects of the Global Financial Crisis.

The latest State of the Land Report released by the Urban Development Institute of Australia highlights the undersupply of housing right across the national housing market that is affecting housing affordability.

One of the most well known real estate agencies in the market, Ray White is selling their franchise for the Gold Coast market of Broadbeach after it was placed in receivership in 2010.

The number of new Australian owner-occupier mortgages hit a 10-year low in 2010, signaling continued consumer uncertainty about the property market, new data show.

New South Wales authorities' plans to make more land available via 30 percent increase in land sales from Landcom will address housing affordability issues.

Property development firm Stockland increased its full-year earnings guidance by more than three percent per share, predicting higher revenue based on the strength of commercial property rents and residential sales.

Dwelling approvals in the country rose by 8.7 percent in December after dropping by 3.9 percent during the previous month.

The number of mortgages in January was 40 percent lower that the average monthly figures recorded last year making it the lowest recorded so far since the Mortgage Index started in 2004.

The government's plan to shift offices and regional centers from the central business district to the suburbs may affect office demand in the business district says a Colliers International report.

The Azzura Group is planning to offer its shopping centers at Byron Bay and Southport to take advantage of strong investor interest for retail investments.

The bushfire that began on Sunday ended up razing 68 homes and 440 hectares in the Perth Hills is now under control.

Australia’s office market is showing signs of recovering from the setbacks brought on by the global financial crisis but the recovery will still be hinged on improved economic fundamentals.

The Queensland Reconstruction Authority is also establishing an office in North Queensland to help residents affected by the recent Tropical Cyclone Yasi.

The Docklands in Melbourne has maintained the lowest office vacancy rates in the central business district contributing about 38,278 square meters to the city's net absorption.

A 11.73 hectare parcel of land located in Officer and part of the VicUrban landholdings is now accepting expressions of interest.

Forty one properties were destroyed in Perth Hills and 19 other damaged on Sunday.

The general insurance industry in Australia has expressed its determination to set a standard definition for a flood to be able to offer improved flood cover through the National Flood Information Database.

Flood recovery aid for South West Queensland residents affected by Cyclone Yasi and the floods will still be available with more than $5 million in personal hardship assistance payments already made.

Organizations willing to make changes to improve energy efficiency are now qualified for a ACT Government rebate for CitySwitch Signatories on 50 percent of the cost of a NABERS energy rating.

Office vacancy rates in Melbourne’s central business district are the lowest of all city centers in the country with only 6.3 percent of total office space available for rent.

Canberra continues to report double vacancy rates in the last six months with figures slowing slightly to 13.4 percent from 14.1 percent reports the Property Council of Australia’s Office Market Report.

Strong performance for investment opportunities in Melbourne’s central business district is forecast for this year with stock surpassing demand says a CB Richard Ellis review.

Lower demand and higher interest rates have cut expectations for rental returns for Australian commercial properties based on a National Australia Bank Ltd. survey.

The Reserve Bank's decision to leave official interest rates on hold given the worsening state of housing affordability and the newest release of the House Price Index by the Australian Bureau of Statistics is considered offers respite for Australian home owners.