News
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Storm clients to target BoQ, ANZ, NAB and Westpac - February 2010
AFTER securing a historic deal with the Commonwealth Bank, clients of failed financial services
giant Storm Financial have vowed to take the fight to other banks who dealt with the firm...
Stapylton industrial site's secure future - February 2010
THE Beenleigh owners of a Stapylton industrial property expect it to fetch about $11 million at sale. The 4.6ha holding, at 9 Christensen Road, is held by Barbara and Graeme Haggar, who have developed three
buildings and a yard on the property...
MacBank Labrador sale - February 2010
RECEIVERS to two Macquarie Bank subsidiary companies are selling a landmark Labrador redevelopment holding.
The 7133sq m site was earmarked for Coast Marine Parade, an 11-storey residential project comprising 168
apartments...
Ashington assets targeted by Sam Alter - February 2010
MELBOURNE businessman Sam Alter is moving to gain control of high-profile assets held by the
troubled fund manager and property developer Ashington, in a deal believed to be worth less than half
their $220 million boom-time purchase price...
Pacific First avoids fire sale as CBA extends loan - January 2010
Fund manager BalmainTRILOGY says the new loan facility will now expire on June 30, 2010 and will be
renewable every year if CBA remains comfortable with the fund's performance...
Mortgage respite in sight for homeowners - January 2010
BANKS will not pass on the full increases in interest rates this year in a reversal which
would save home loan customers a combined $150 million a month...
Reno means centre won't miss the bus - January 2010
THE Gold Coast Council-owned Surfers Paradise Transit Centre is poised for a $1.8 million makeover in a bid to
attract new tenants.
The council has enlisted Bayliss & Samra Commercial Realtors to...
New owner looks at changing village plan - January 2010
A VICTORIAN company has paid $5.5 million for an Elanora property with approval for a retirement village in a
recently settled deal.
Beacon Builders, linked to Peter Beaconsfield, picked up the 9.49ha property at 2 Nollamara Drive after RSL (Qld)
War Veterans Homes Limited decided to sell the property last year...
Mortgage trusts: is there a future? - December 2009
It was just over a year ago that Australia's mortgage trust sector experienced a true, good old-fashioned panic run from investors, forcing many well-known fund managers to suspend their funds...
Homeowners may be spared February interest rate rise - December 2009
Homeowners may be spared a rate rise in February after a Reserve Bank official said
interest rates are now in a 'normal range'.
RBA deputy governor Ric Battellino also defended moves by the retail banks to raise
rates by more than the central bank, drawing an angry response from Treasurer
Wayne Swan...
Units eclipse sales record in Coomera - December 2009
THE sale of two commercial units in an Upper Coomera industrial hub has set a sales benchmark in the area.
Gold Coast-based development company Condev Constructions sold the industrial units in its Northward Street
development last month for an average of $2150/sq m...
$11m sales in building Raptis lost twice - November 2009
MELBOURNE property developer Drapac has racked up more than $11.2 million in strata-title deals in a Surfers
Paradise beachside retail and office building.
Drapac Management, linked to Michael Drapac, bought the Le Boulevard property late last year for $18.5 million
after Raptis Group entity Glennington was placed into receivership...
Rates will rise as economy recovers: RBA - October 2009
Reserve Bank of Australia (RBA) governor Glenn Stevens
says it would be a mistake to be "too timid" to raise interest
rates in response to a brighter economy.
Speaking at a breakfast function in Perth on Thursday, Mr Stevens said the period of greatest weakness in Australia
was "probably past" and the risks of really serious economic weakness had "abated"...
Storm adviser didn't care, argues barrister - October 2009
LAWYERS for the Storm Financial liquidators have accused
one of the company's former advisers of not caring if the
investment advice he provided to a retiring couple was based on inaccurate information...
Tweed development surges - October 2009
CONSTRUCTION activity in the Tweed is pushing ahead at an unprecedented level, with major planned projects
accounting for a significant percentage of the $11.75 billion of development pinpointed in the region, new research
from Colliers International shows...
Anniversary of Raptis Southport failure - September 2009
TODAY marks a year since the Gold Coast development industry was thrown into turmoil by receivers moving in on
the Raptis Group's Southport Central project.
With just eight floors to go for completion, the action by project lender Capital Finance triggered a wave of anxiety
across the city and its army of
sub-contractors and building workers...
Banks could hike rates regardless - Swan - September 2009
FEDERAL Treasurer Wayne Swan has warned that banks may be forced to raise
interest rates independent of any action by the Reserve Bank.
While welcoming Australia's better-than-expected economic growth in the June quarter, Mr
Swan said global financial pressures were still having an impact...
Storm founder's desperate loan plea - September 2009
STORM Financial founder Emmanuel Cassimatis tried desperately to salvage his customer
base by offering to take over customers' spiralling debts as the global financial crisis took hold
last year, an inquiry has
heard...
'Fragile' economy helps keep interest rates on hold - September 2009
HOMEOWNERS can probably rest easy for another month after the Reserve Bank of
Australia left the cash rate unchanged for a fifth straight month after its monthly board
meeting...
Lend Lease sets up Aussie PPP business - August 2009
Property developer Lend Lease Corp has set up a new operation to originate
private public partnerships (PPP) with governments in the fields of health,
justice, defence and education in Australia...
Dexus Property Group posts $1.4bn loss - August 2009
DEXUS Property Group has posted a $1.46 billion full year loss as its portfolio value
plunged, and says it expects conditions to remain challenging in the coming year.
Dexus's net loss follows a net profit of $438 million in the prior financial year...
Reserve Bank says further rate cuts unnecessary - August 2009
THE Reserve Bank (RBA) says the improvement in the global and domestic economies
means further interest rate cuts are unlikely to be necessary.
Instead, if the improved prospects for economic growth prove accurate, the RBA says it will
need to lift the cash rate from the current 49-year low of 3 per cent...
Glades on the block - August 2009
PROPERTY group Thakral Holdings has moved to quit the Glades Residences development at Robina in
preparation for a major Surfers Paradise project.
The listed company has released the final 10ha of undeveloped land at the $500 million golf course community built around a Greg Norman-designed course...
Construction activity 'weakened in June' - July 2009
Building and construction activity has weakened for a 16th straight month as firms grappled with
delayed projects and difficult credit conditions, a survey shows.
The Australian Industry Group-Housing Industry Association performance of construction index (PCI) fell by 4.3 index
points in June to 42.6 point...
Grey invasion drives housing market - July 2009
POPULATION growth will drive the housing market over the next five years and Queensland
will lead the way with 100,000 new residents expected each year.
The Australia On the Move report released this week by the Residential Development Council estimates that nearly two-thirds of that population growth will be people aged 50 and over...
Tall Trees looks to future - July 2009
GOLD Coast company Usher Powell Developments has gained approval for a $48 million supported-living village
at Oxenford.
The company is set to begin work on the 124-home retirement enclave on a 1.3ha parcel fronting the Old Pacific
Highway, Oberon Way and Narracort Place.
Usher Powell, together with joint-landholder Avonlea Properties, applied to build the facility in 2007...
Cherry pickings - July 2009
PROPERTY identity David Cherry is testing the strength of the market with the release for sale of five significant
properties in the past three months.
The property mix, linked to Cherry Holdings and joint-venture partners City Pacific and New Zealand interests,
comprises three development-approved holdings, an office building and a holiday park...
Crash and tougher bank nearly scuppered home deal - June 2009
WHEN real estate agent Peter Taylor made the winning bid for a $3.3
million three-bedroom home in Bellevue Hill in September, he was
confident he would be able to come up with the cash to complete the sale...
900-home project slated for Ormeau - June 2009
STOCKLAND has unveiled bold plans to develop a massive 900-home residential community in Ormeau, the
first major development announced for the Gold Coast in recent months.
The listed company plans to start building the master-planned community once council approves it...
Indigo Group's loan failure could hurt CityPac - June 2009
CITY Pacific's balance sheet may face a further hit through its investment in its Indigo Pacific Capital joint
venture.
The company yesterday said it was awaiting an announcement by Indigo Pacific Capital over the likelihood it
may not be able to recover a loan forwarded to privately owned Brisbane developer, the Indigo Group...
Reserve Bank leaves interest rates unchanged - June 2009
INTEREST rates have been left unchanged after the Reserve Bank of Australia decided the
official cash rate should not be lowered any further...
Banks squeeze home owners to save profits - May 2009
HOME owners face higher interest rates as the Big Four
banks try to protect their bottom lines from rising bad debts
and the higher cost of borrowing....
Battered City Pacific to face investors - May 2009
CITY Pacific has finally bowed to commercial reality and shaved 39 per cent off the value of its $1 billion First
Mortgage Fund.
Seven months ago, the company, when under the control of founder Phil Sullivan, wrote down just 5 per cent --
or $50 million -- in the value of its loans to $969 million after a horror year of market upheaval...
Rudd Bank 'a priority' - May 2009
ANZ has warned that the freeze in the $8 billion-plus
commercial mortgage-backed securities market represents a
bigger threat to the commercial property sector than the
possible exit of foreign banks...
Banks hike rates as RBA mulls further cuts - Apr 2009
Australia’s biggest banks have raised interest rates on fixed rate
mortgages amid ongoing concerns that homeowners are not getting the
full benefits of cuts in official rates...
RBA cuts interest rates to 3 percent - Apr 2009
The Reserve Bank of Australia has cut interest rates to 3 percent today, but there are still fears that commercial
banks will not pass on any reduction...
RBA delivers rate cut - Apr 2009
The Reserve Bank of Australia (RBA) has cut the cash interest rate by 25 basis points,
following its board meeting today...
RBA set to cut interest rates to all-time low - Apr 2009
The Reserve Bank could slash interest rates to an all-time low next week but there are growing concerns that
commercial banks may not pass any cut on to homeowners.
Economists expect the RBA to cut rates by 0.5 percent to 2.75 percent when it meets on Tuesday, in response to
last month's slew of gloomy economic data...
City Pacific claims fee cuts too costly - Apr 2009
CITY Pacific is urging its embattled First Mortgage Fund unit-holders to vote against a proposal to cut its
management fees in half.
The Gold Coast financier, which controls the frozen $880 million fund, said it would be prepared to cut its rates
from around 3 per cent to 2.5 per cent...
Raptis revival plan - Mar 2009
CREDITORS have approved a plan to get troubled Gold Coast developer, the Raptis Group, back on its feet.
The group went into voluntary administration under BRI Ferrier in January after several of its major
developments went bust, including the $700 million Hilton Hotel site in the heart of Surfers Paradise...
St George calls in receivers for Sheraton mirage - Mar 2009
AN impatient St George Bank has moved on the Raptis Group subsidiary that owns the Sheraton Mirage Resort.
Six months after the prized beachfront property was placed on the market, and after several of potential buyers
flirted with the resort, St George has called receivers to SP Hotel Investments...
Babcock creditors search for crumbs - Mar 2009
Creditors of the collapsed fund management group Babcock & Brown were meeting this morning to work out the next
steps as to the prospects of recovering any money from their exposed investments...
Storm misled creditors online court - Mar 2009
Storm Financial has misled creditors about their chances of
recuperating money, a court has been told.
During an application in the Federal Court in Brisbane on Tuesday, lawyers for the national securities watchdog
said an information memorandum published on Storm's website last week was "misleading and confusing" to
ordinary creditors of the embattled company...
Reserve Bank eyes all-time low for interest rates - Mar 2009
Interest rates could be slashed to an all-time low next month, the Reserve Bank has indicated, bringing relief to
hard-pressed homeowners across Australia.
The RBA said that it decided to hold fire on its run of rate cuts this month because it was waiting for the release of
key data - including economic growth and job loss figures...
RBA leaves cash rate on hold - Mar 2009
The Reserve Bank of Australia (RBA) has left the cash interest rate unchanged, after its monthly board meeting on Tuesday.
The cash rate remains at 3.25 per cent, in a decision that breaks a series of interest rate reductions made by the RBA since September last year...
Rate cut likely - but how much? - Mar 2009
The Reserve Bank is likely to deliver home-buyers another boost this afternoon when it announces its decision on interest rates.
Most experts are predicting a cut - either a quarter of a percentage point or
half a percentage point - when the decision is announced at 2.30 this
afternoon...
Good buy paradise - Feb 2009
TOUGH FINANCIAL TIMES ADD UP TO FALLING PRICES IN THE QUEENSLAND HOLIDAY PROPERTY MARKET , WHERE BARGAINS BASK IN THE SUN.
Queensland’s resort towns , the usual holiday investment havens of cashed-up southerners, have been hit hard by the financial downturn with apartment prices declining by more than 8 per cent...
Banks lead by bad example - Feb 2009
Australia banks have never been known for their humility, so it would server no purpose to expect any now. They may be right to assert that they have avoided the worst excesses of their overseas counterparts, but they still have much to answer for...
Lend lease to cut 1700 jobs - Feb 2009
Australia's largest property developer Lend Lease said it will
cut 1700 jobs over the next six months, after it posted a loss of
almost $600 million for the first half.
Lend Lease chief executive Steve McCann said the company
has been targeting a head count reduction to 10,000, from
12,000, in order to cut costs as market conditions deteriorate...
Market of contrasts - Feb 2009
The residential real estate market may seem mired in misery but the property specialists say now could be the right time to buy for those investing for the long haul.
Low interest rates, lower dwelling prices and fewer buyers in the market mean buying conditions are the best they have been for some time...
RBA cuts cash rate by 100 basis points - Feb 2009
The Reserve Bank of Australia (RBA) has slashed its official cash rate by a
further 100 basis points following Tuesday's board meeting.
The cash rate is now 3.25 per cent, the lowest level in 45 years.
Economists had expected a cut of at least 75 basis points given the rapid
deterioration in the global economy since the central bank last cut the rate
in December....
Obama's $1.2 trillion bill gets the green light - Jan 2009
The Democratic-controlled US House of Representatives has approved an
$US819 billion ($1.23 trillion) economic stimulus package critical to
President Barack Obama's plan to revive the economy.....
Lenders Close to the Limit - Jan 2009
THE Rudd Government's new $4 billion property finance joint venture with the major banks
was needed because some Australian banks were close to their lending limits to the
property industry....
Greed blamed for damage to Storm Financial - Jan 2009
A LAWYER for more than 350 clients of collapsed investment adviser Storm Financial
says the greed of the company and the banks caused hundreds to lose the fruits of their
life's work....
Raptis hole deepens - Jan 2009
ADMINISTRATORS to Raptis Group's troubled construction arm Rapcivic Contractors have laid bare the inner
workings of the company, saying the first sign of problems emerged as early as May last year.
In his report to creditors, Brian Silvia, of BRI Ferrier, said that was when the ANZ Bank pulled its funding for the
second tower of Raptis Group's Surfers Paradise Hilton...
CBA to split business arms - Jan 2009
COMMONWEALTH Bank has finally decided to split its CommSec online
trading arm from its institutional banking unit, as part of a shake-up of one
of its biggest business units....
UK unveils second bank rescue package - Jan 2009
Britain unveiled a second bank rescue package worth tens of billions of
pounds on Monday aimed at kick-starting lending to homeowners and
businesses and curbing an alarmingly deepening recession.
Prime Minister Gordon Brown said the measures, including an insurance
scheme to protect banks from so-called toxic assets, were crucial to free
up credit to get the economy moving again....
Trouble ahead if foreign banks call in debts - Jan 2009
NOW that the share market's taken last week's much expected breather, it's worth taking
a measured look at some of the surprises that might yet be in store for the Australian
economy in 2009...
B&B still battling to resolve crisis - Nov 2008
LAST-DITCH talks were under way last night between Babcock & Brown and its banking syndicate to try to resolve the financial crisis that could plunge the beleaguered asset management group into administration.
Both sides were still hopeful of finding a way out of the impasse, which would require a further lending lifeline to be extended by the group's 25 banks in exchange for a faster repayment of its $3.1 billion of corporate debt...
Credit growth sluggish amid slowdown - Nov 2008
Companies turning to banks for funding in the global financial crisis have kept Australian credit growth steady in the past month despite consumers staying out of the housing market.
Total credit provided to the private sector rose 0.6% in October, following a revised 0.8% increase in September, the Reserve Bank of Australia said today, marking the ninth consecutive month in which credit growth remained below 1%.
Analysts were expecting credit to grow by 0.5% in October...
Pre-Christmas rate cut to stir shoppers - Nov 2008
Official interest rates are tipped to be slashed before Christmas as the worst global financial crisis in decades stirs fears about a possible recession in Australia next year.
All 18 economists surveyed by AAP expect the Reserve Bank of Australia to cut interest rates next Tuesday.
Eleven expect the cash rate to be slashed by a 75 basis points, following the RBA's December 2 monthly board meeting. Five economists tip a 100-basis point reduction...
RBA's still pulling on the reins - Nov 2008
There are three major events on the card tomorrow - a Reserve Bank board meeting, the US Presidential election and the Melbourne Cup. The result of one is a sure thing, another is odds on, while the horse race remains anyone's guess - so that's the one we all bet on...
Babcock founder resigns as director - Nov 2008
Babcock and Brown founder Jim Babcock has resigned as a director of the merchant bank, two months after falling on his sword as the bank's chairman...
Fund managers to meet Government - Oct 2008
FUND managers will meet the Federal Government in Canberra today to try to find a way to end the problems the industry has experienced since the introduction of the bank deposit guarantee scheme a fortnight ago.
At least 13 of Australia's 20 investment and mortgage funds, including funds such as AXA, Perpetual and Challenger, have frozen almost $12 billion in assets in the wake of a run on institutions not covered by the Government's bank deposits guarantee announced on October 12...
Westpac-St George merger approved by Treasurer Swan - Oct 2008
WESTPAC has cleared the last regulatory hurdle to its proposed merger with St George Bank, after Canberra approved the $17 billion scrip deal....
Private investors remain active in the great 2008 sales drought - Oct 2008
2009 will be the biggest year of change the Australian property industry has seen for 16 years.
That was the message delivered today at CB Richard Ellis’s annual Market Outlook breakfast in Brisbane
by the company’s Executive Director of Research & Consulting Kevin Stanley. ....
Rental market strengthens but investment activity continues to slow in South East Queensland - Oct 2008
A growing imbalance between supply and demand is expected to put continued pressure on residential
rents in South East Queensland according to new research from CB Richard Ellis.
The CBRE ResiLine report highlights that there will be unmet demand for more than 1,000 dwellings in
Queensland in 2008 following a recent slowdown in new construction associated with the higher cost of
land, labour and raw materials...
Strong demand ensures Adelaide office vacancy remains at record low - Oct 2008
An imbalance between supply and demand will continue to drive up office rentals in Adelaide, with rents
tipped to spike by 9.3% this year before rising by a further 6.2% in 2009.
New research from CB Richard Ellis highlights that Adelaide’s record low vacancy rate is driving rental
growth, amid forecasts that vacancies could fall even further in the next 12 months. ...
Vacancy rates hit a record low in the Sydney CBD retail market - Oct 2008
The retail vacancy rate in the Sydney CBD has dropped to an historic low of just 1.07% according to new
research from CB Richard Ellis.
However, that could be as good as it gets given the ructions in the global financial markets and issues
such as surging fuel costs which have put a dampener on household spending and impacted retailer
confidence according to CBRE’s new Sydney Retail MarketView. ...
US House rejects Wall St bailout - Sep 2008
THE U.S. House of Representatives today rejected a Wall Street bailout bill that would have authorised the Treasury Department to spend up to $US700 billion to purchase soured mortgage-backed assets from banks with the goal of jump-starting stalled capital markets....
Development Industry Sounds Warning Bell - Sep 2008
A rapidly declining inventory of land approved for development and inadequate data
available to plan future land release should be seen as warning signs that Queensland’s
continued economic growth is in danger. ....
Measures To Enhance The Functioning Of Financial Markets - Sep 2008
Today the RBA is announcing two measures to contribute to the smooth functioning of domestic financial markets:
- A foreign exchange swap facility with the Federal Reserve to address the elevated pressures in US dollar short-term funding markets in the Asian time zone;
- A domestic term deposit facility to further enhance the flexibility of domestic liquidity management operations.
Stock of CBD strata continues to dwindle - Aug 2008
Sydney, NSW (19 August 2008)
A shortage of strata offices in the Sydney CBD is expected to put increased pressure on strata prices,
according to new forecasts from CB Richard Ellis.
Challenges and opportunities for NZ commercial property sector- Aug 2008
Auckland, NZ (20 August 2008)
After seven years of sustained growth, the NZ commercial property sector is facing challenging times in
light of concerns about short terms adjustments to pricing and valuations.
However, opportunities remain for savvy investors according to CB Richard Ellis forecasts at the firm’s
annual Market Outlook breakfast presentation in Auckland.
Brisbane market fundamentals remain strong- Aug 2008
Brisbane, QLD (6 August 2008)
The fundamentals underpinning Brisbane’s office market remain sound, despite a small rise in vacancy in
the first half, according to CB Richard Ellis Director, Office Services, Campbell Tait.
The latest Property Council of Australia vacancy statistics show that the Brisbane CBD vacancy rate
increased from a record low of 0.7% to a still low 1.2% in the first six months of 2008.
Australian share market up as banks gain- Aug 2008
THE equities market was up at noon on the back of financials, property trusts and healthcare, although the utility and gold sectors played laggards.
World's banks come out fighting- July 2008
A GROUP of the world's largest banks has unveiled reforms to deal with the financial market turmoil stemming from a US home mortgage crisis that flared a year ago.
Application of the proposed measures "will help to restore confidence'' in the financial services industry, the Institute of International Finance (IIF) said after releasing a 200-page report, the result of a study done last October.
Sydney beats Melbourne as commercial capital- July 2008
SYDNEY has outranked Melbourne as Australia's top financial hub, in an index of the world's most influential commercial centres.
Sydney was ranked 14th out of 50 cities in the first Mastercard Worldwide Centres of Commerce Index. Melbourne was 34th. Sydney was fifth in the Asia-Pacific region and Melbourne seventh.
Oil, food rises hurt world growth - G8- June 2008
WORLD finance chiefs warned today runaway oil prices could imperil global economic growth, calling on producers to open the taps and for a probe into market swings.
High oil and food prices pose "a serious challenge to stable growth worldwide" and may worsen poverty and stoke global inflation, Group of Eight finance ministers warned after two days of talks here.
South Brisbane infrastructure: height ‘no brainer’- June 2008
An audit of the infrastructure destined for South Brisbane has found further support for increased building heights in this section of the city.
Figures from Urbis shows more than $3.6 billion worth of social and transport infrastructure investment has been committed for South Brisbane, making it the most infrastructure rich urban area in Queensland.
Strong outlook for Brisbane hotel market - May 2008
Brisbane, QLD (8 May 2008)
The Brisbane hotel market is poised for strong growth with room rates to rise by as much as 10% in
2008 and 2009, according to new forecasts from CB Richard Ellis.
Commercial property strong: Deloitte - May 2008
Opportunities in the commercial property sector are still strong despite the global credit crunch, according to financial services firm Deloitte.
Deloitte said in its 2008 Real Estate Capital Markets Industry Outlook report released Tuesday that commercial property globally was still stable and performing strongly.
Landmark Queensland resort listed for sale - April 2008
Gold Coast, QLD (7 April 2008)
CB Richard Ellis has been appointed to sell the prestigious Royal Pines Resort on the Gold Coast, in a
move expected to attract significant interest from major developers and hotel investors.
CBRE Directors George Nicholas and Mark Witheriff will steer the sale of the landmark Queensland
resort on behalf of Morgan Stanley Real Estate.
Development industry calls on government to justify taxes - April 2008
The Queensland development industry has called on the State Government to justify any new taxes or charges which add to the cost of a new home through an affordability impact statement and to immediately delay implementation* of the increased payroll tax charges put through parliament this week.
Urban Development Institute of Australia (Qld) president Brett Gillan said it was imperative the government quantified the economic effect of any new legislation on new homes.
Two Queensland developments judged best in Oz- March 2008
Two Queensland developments were judged the best of their kind at the 2008 Urban Development Institute of Australia (UDIA) National Awards for Excellence gala dinner last night (6 March) in Melbourne.
Pacific Harbour at Bribie Island took out the residential development category and Sunrise at 1770 took out the environmental excellence category.
Australia’s office markets running hot - February 2008
The January 2008 Office Market Report, released this week by the Property Council of Australia, shows a strong performance from most Australian office markets in the second half of 2007.
It reveals vacancy rates are as low as they have ever been and continue to fall in most major markets.
Property this year: where to next? - February 2008
With the recent interest rates rise, ailing US housing market and international stock market crash, the local development industry will turn out in force this week for the opportunity to hear from National Australia Bank (NAB) senior treasury economist, Spiros Papadopoulos.
Market Outlook 2008 - January 2008
Investment activity in commercial real estate will remain strong in 2008, according to new forecasts from
CBRE’s Executive Director of Research for the Pacific Region, Kevin Stanley.
Mr Stanley has tipped that commercial sales will remain close to the long term average of $10 billion to
$12 billion, despite recent increases in the cost of capital.
Canberra sale sets new Australia auction record - December 2007
Canberra’s landmark Section 63 development site has been sold under the hammer by CB Richard
Ellis for a record Australian auction price of $92 million.
The price smashes the previous Australian auction record of $69 million, which was set in 1988 with
the sale of Transport House in Sydney’s Macquarie Street.
Office rents Soar around the world - Nov 2007
Brisbane has stolen Sydney’s mantle as the most expensive office market in the country, according to the latest Global Market Rents Survey from CB Richard Ellis.
The month in Review - Nov 2007
We advise. You decide.
- Property Valuations
- Tax Depreciation Schedules
- Research reports and other services
Canberra’s most significant development site attracts international interest - Oct 2007
The ACT Government has announced the release of the much anticipated Section 63 development in Canberra City.
Development boom for Brisbane’s emerging Near City precinct - Oct 2007
Strong tenant demand in Brisbane has led developers to propose a staggering 66 new office projects in the city’s emerging Near City precinct.
At a Market Outlook presentation in Brisbane today, CB Richard Ellis’ regional director of research Kevin Stanley said cheaper rents and a lack of new supply in the CBD had pushed the pipeline of Near City development to a record 640,000 square metres, including stock proposed for the emerging Kelvin Grove and Herston precincts.
New dynamics drive Brisbane’s strongly performing industrial market - October 2007
New industrial construction in Brisbane is reaching record levels, with more than 1 million square metres of industrial space to be completed this year
Outlook strong for South East Queensland retail sector - October2007
Overbuilding remains one of the few threats to South East Queensland’s strongly performing retail sector, according to new forecasts from CB Richard Ellis.
Pradella to undertake first office development in South Brisbane - October 2007
The strength of the Brisbane office market has led Queensland developer Pradella to amalgamate a major site in South Brisbane to undertake an iconic office development.
Reserve Bank to increase the cash rate twice - 24 October 2007
Our forecast has been that a 0.9%qtr rise in the core
measure would be enough to trigger a rate hike on
November 7. We have forecast that the November move
would not be the end of the cycle, with another 25bp by
March 2008.
RBA rate hikes in November & December - peak to be 7.25% in 2008 H1 - 1 November 2007
We expect there is little doubt that the RBA will announce a
0.25% rate hike at 9:30am on November 7 pushing the
overnight cash rate to 6.75%.
Residential market overview - 30 August 2007
Economic indicators & key statistics
New test of Brisbane strata office market - September 2007
The value of strata office space in Brisbane is expected to be tested through the sale of an entire strata floor with views of the Brisbane River.
CBRE Metropolitan Investments Director Trevor Weinert said a critical shortage of strata office space in the CBD and strong buyer demand had reputedly pushed values as $10,000 a square metre for strata in the yet-to-be-built 110 Mary Street project – a level virtually in line with Sydney valuations.
Development boom forecast for bulky goods retail market - September 2007
A development boom has been forecast for the bulky goods retail sector, with more than 1 million square metres of space to be constructed across Australia and New Zealand in the next two years.
Banks need a clear strategy for managing the broker channel
Banks need a clear strategy for managing the broker channel -
RMs leading the charge to satisfaction