Queensland mortgage borrowers in arrears
Home owners in Queensland ranked as one of the regions with the most number of borrowers in arrears based on a FitchRatings report.
NSW property transfer tax may affect investment
The recent ‘ad valorem’ tax on property transfers implemented in July 1 that charges a 0.2 percent tax on transfers between $500,000 and $1 million, and 0.25 percent tax on transfers above $1 million was found to fall short of revenue expectations and may deter future investments in New South Wales.
Melbourne CBD prime retail space sold for $12 million
A landmark in the city’s central business district, the former McGill’s book store, was sold in a competitive auction for $12.04 million.
Centro shopping center sale attracts $13.3 billion worth of bids
Buyer interest for Centro Property Group’s shopping malls has garnered US$13.3 billion worth of bids as the first round ended last week.
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Median housing prices decline
Latest figures show that median prices for houses in the country decreased during the September quarter according to the Mortgage Choice Real Estate Market Facts report.
Eco-buildings eligible for tax breaks starting July 2011
Beginning July 1, 2011, buildings that make the necessary changes to cut down on energy consumption will be eligible for a one-off bonus tax deduction worth 50 percent of the cost of the eligible eco-assets or capital works.
Stockland given first national award for eco-office efforts
One of the country’s most top property groups, Stockland, has been given the inaugural CitySwitch signatory of the year award for improving office energy efficiency and cutting down carbon emissions by 800 tons annually.
Barangaroo South plan design revisions approved
New South Wales authorities have approved design revisions to Lend Lease's concept plan for Barangaroo South that will allow it to offer improved spaces for retail clients.
High housing prices to remain
As Australians become wealthier and the economy grows, high housing prices are expected to remain.
Construction industry struggling over debt, unfinished projects
Queensland construction industry is struggling as developers try to pay off interest charges on unfinished projects delayed due to the rainy season and upcoming holidays.
Ipswich city center's US$1 billion redevelopment approved
Ipswich city center's US$1 billion redevelopment is set to begin by the end of 2011 and scheduled to finish by 2016.
Sydney metro plan released
Sydney has released its latest Metropolitan Plan that maps out how the city will manage future employment, housing and population needs.
IMF assures housing prices correction to be orderly
A report made by the International Monetary Fund assures that while housing prices in Australia are rising, a collapse is unlikely.
Melbourne risks property oversupply
Apartment buyers in Melbourne are being warned of a possible apartment property glut as oversupply threatens funding.
Mansion in Victoria to sell for more than US$25 million
A 1930s Spanish mission-style home located in the Portsea cliff-top in Victoria is set to break records when it is sold for more than US$25 million.
More revisions sought for change of use charge
The ACT government has released the revisions on the Change of Use Charge (CUC) that will apply to the territory set for July 1 next year.
Melbourne prime office space demand robust
Demand for office space in Melbourne’s central business district remains robust and may force rents to rise as vacancies drop and supply is limited.
U.S. homes attract Australian buyers
More Australians are considering buying homes in the United States as the Australian dollar becomes at par with the U.S. dollar according to real estate executives.
Chinese company to invest in affordable Australian housing
Shanghai-based, Thakral Corporation, has announced new plans to invest in mid-sized residential developments in Australia and the Asia Pacific region.
Watpac bags One Central Park deal in Sydney
Australian contracting and property development company Watpac Limited has bagged the contract for the US$353 million construction of high-end ‘One Central Park’ residential and retail buildings located in Sydney.
Investor confidence returns to Western Sydney
Retail asset and development site sales were bolstered by investor confidence as more than US$120 million worth of properties were sold in Western Sydney this year by the CB Richard Ellis’ Parramatta Metro team.
Melbourne’s bulky goods sector to perform well in 2011
The Melbourne metropolitan bulky goods sector has maintained strong growth this year due to low vacancy numbers and solid demand from retailers.
Plans to convert state library to hotel causes uproar
Plans to build a five star hotel in the former State Library has sent a heritage group into uproar.
Housing loans rise amid credit card slowdown
Housing loans increased by 2.8 percent in October as new personal loans and credit card growth slowed down.
Charter Hall to focus on the Australian market
The Charter Hall Retail Real Estate Investment Trust is shedding its U.S. assets and focusing on the Australian market as it sold its 60 percent interest in a United States portfolio of 32 properties in the joint venture Desco and Regency groups for US$168 million.
Increasing stamp duty burdens homebuyers
A Residential Stamp Duty report from BankWest found that stamp duty rates in the country rose by 36 percent in the past five years with Victoria found to have the highest stamp duty charges among all the states.
More properties approved for the Australian market but outlook remains weak
Recent figures suggest that more properties are scheduled for the Australian market although overall outlook remains weak because of rising interest rates.
Sporting retailers buys Scoresby property for $4.35 million
Sporting retailer TNF Group bought prime office/warehouse space in Melbourne suburb, Scoresby, for $4.35 million
Australia leads in commercial property transactions in Asia
Australia along with Singapore and China led with the highest direct commercial property transaction volume in Asia-Pacific region amounting to US$18.2 billion, an increase of 14 percent compared to the previous quarter said an international real estate services consultant.
Perth real estate market struggling with slow sales
The Perth real estate market has had a challenging year with slow sales and properties taking about three months to get sold.
Foreign buyers return to office property investment
Foreign buyers and investment funds returned to the office property sector contributing US$481 million worth of investment or about 25 percent of total transactions for the year.
NBN policy boon to home buyers
The National Broadband Network decision to pay for the cost of installing fiber infrastructure into communities and new homes is a boon for home buyers as it avoids passing on any additional costs to consumers for broadband installation.
New South Wales properties sell for more than US$11 million
New South Wales properties worth more than US$11 million were sold in an auction garnering strong interest from investors.
Investors turn to real estate retail investments
Investors are focusing on retail assets as an estimated US$390 million worth of shopping centers have been sold this year despite lukewarm forecasts on the sector.
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