Original article by Paige Taylor
The Australian – Page: 2 : 14-Jul-20
Billionaire miner and philanthropist Andrew Forrest and his wife Nicola have bid to buy two adjoining cattle stations in the Kimberley region of Western Australia. Traditional owners of the Fitzroy also bid for the Jubilee Downs and Quanbun Downs stations, but they bid $25 million, while the Forrests are believed to have bid $30 million. The Yanunijarra Aboriginal Corporation has asked WA Lands Minister Ben Wyatt to intervene in the transfer of the leases of the two stations to the Forrests, and a spokesperson for Wyatt says transfers of pastoral leases are subject to a public interest test if they result in the holder of the lease exceeding 500,000 hectares.
YANUNIJARRA ABORIGINAL CORPORATION, WESTERN AUSTRALIA. DEPT OF LANDS
Original article by Nila Sweeney
The Australian Financial Review – Page: 31 : 9-Jul-20
Some residential property developers have reported a sharp rise in sales since the federal government announced its six-month HomeBuilder scheme in June. Cedar Woods’ chief financial officer Leon Hanrahan has warned that some developers could overbuild in response to the scheme, resulting in an oversupply of new housing. Jeremy Sheppard of Select Residential Property says the risk of an oversupply is particularly high at housing estates in the outer suburbs of capital cities.
CEDAR WOODS PROPERTIES LIMITED – ASX CWP, SELECT RESIDENTIAL PROPERTY
Original article by Nila Sweeney
The Australian Financial Review – Page: 33 : 16-Jun-20
Housing Minister and Assistant Treasurer Michael Sukkar says there is a lot of interest in the federal government’s HomeBuilder scheme. He says there have been more than 296,000 visits to the HomeBuilder website and over 23,000 people have registered their interest in the scheme. However, mortgage brokers claim that they have not yet been able to get any borrower processed under the scheme, as the states have not yet signed up to it. Homeloanexperts.com.au MD Otto Dargan says it is still waiting to hear from the appropriate state government bodies on advice as to how the scheme will work.
AUSTRALIA. DEPT OF THE TREASURY, HOMELOANEXPERTS.COM.AU
Original article by Brad Norington, Ben Wilmot
The Australian – Page: 1 & 4 : 22-May-20
Citigroup has forecast that the value of office buildings in Australia’s major CBDs could fall by more than 15 per cent in the wake of the coronavirus pandemic. Demand for centralised office space is likely to fall if the shift to working from home is sustained once the crisis abates. This in turn could put downward pressure on office rents. Meanwhile, JLL has forecast that the total amount of vacant office space across the nation’s CBDs will rise from 1.46 million square metres prior to the pandemic to about 1.88 million square metres by the end of 2020.
CITIGROUP PTY LTD, JONES LANG LASALLE AUSTRALIA PTY LTD
Original article by James Kirby
The Australian – Page: 20 : 14-May-20
The Commonwealth Bank of Australia has warned that house prices could fall by 32 per cent over the next three years if there is a prolonged economic downturn. This worst-case scenario is based on the unemployment rate exceeding nine per cent. CBA’s base case downturn scenario is for house prices to fall by 11 per cent. The bank has identified unemployment, underemployment, changes to income and house prices as the key drivers for the housing market.
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA
Original article by Hannah Ross
The New Daily – Page: Online : 11-May-20
Real Estate Institute of New South Wales president Leanne Pilkington expects the COVID-19 pandemic will result in increased demand for rural and regional properties. Pilkington says the virus has made people realise how easy it is work from home, and that they do not need to live in big cities any more for their work. Regional and urban planner Bette O’Brien says regional economies will get the biggest benefit from a post-pandemic migration if people from all age groups relocate from urban areas.
THE REAL ESTATE INSTITUTE OF NEW SOUTH WALES
Original article by Michael Bleby
The Australian Financial Review – Page: 32 : 23-Apr-20
Many companies in the property sector meet the turnover reduction thresholds for the JobKeeper scheme, but their corporate restructure means they may be ineligible. Such companies are split into an operating arm that generates income and a services arm that actually employs their staff, but the turnover test will be applied to each entity separately. These structures are widely used by companies such as retail property managers and student accommodation providers. Operators of retirement villages may also be ineligible for the scheme.
AUSTRALIAN TAXATION OFFICE, PROPERTY COUNCIL OF AUSTRALIA LIMITED, LENDLEASE GROUP – ASX LLC, STOCKLAND – ASX SGP, MERITON APARTMENTS PTY LTD
Original article by Mackenzie Scott
The Australian – Page: 2 : 8-Apr-20
SQM Research MD Louis Christopher says confidence in the housing market will recover if coronavirus-induced restrictions are eased by the end of May. He warns that residential property prices could fall by up to 30 per cent in Sydney and Melbourne if there is a second wave of coronavirus infections during winter and the restrictions have to remain in place. Christopher adds that the closure of the nation’s borders will reduce underlying demand for housing; he expects this to be one of the last restrictions to be lifted.
SQM RESEARCH PTY LTD
Original article by Mackenzie Scott
The Australian – Page: 16 : 3-Apr-20
Economists generally expect Australia’s residential property prices to decline by 5-20 per cent due to the impact of the coronavirus pandemic. UBS analysts have declined to forecast the likely effect of the health crisis on house prices, although they have warned that governments may need to step in with measures such as stamp duty cuts if the housing market falls too far. The investment bank adds that the ban on auctions and open houses is likely to prompt a sharp decline in sales volumes in the near-term.
UBS HOLDINGS PTY LTD
Original article by Larry Schlesinger
The Australian Financial Review – Page: 35 : 13-Mar-20
Sydney and Melbourne hotel rooms experienced vacancy falls of around 20 per cent in the first week of March when compared to the same time in 2019, according to research company STR. STR was making a presentation on the impact of COVID-19 thus far, with hotels in Asia and parts of Europe seeing a much greater impact than Australian hotels. However, STR expects COVID-19 to have a much greater impact on the Australian hotel sector in coming months, due to the likelihood of major events being cancelled and the prospect of restrictions being imposed on domestic travel.
STR GLOBAL LIMITED