Original article by Nila Sweeney
The Australian Financial Review – Page: Online : 3-Jan-20
Australian home values rose by four per cent in the December quarter, according to the latest CoreLogic Home Value Index. The increase was the highest quarterly increase in a decade, although housing values in December only rose by 1.1 per cent. Sydney and Melbourne both recorded annual growth of 5.3 per cent for 2019, while the combined capitals recorded growth of three per cent in 2019.
CORPORATES
Original article by Nila Sweeney
The Australian Financial Review – Page: Online : 31-Dec-19
Sydney home values rose by 1.7 per cent in December, according to CoreLogic, while Melbourne home values increased by 1.4 per cent. This compares to growth of 2.7 per cent for Sydney and 2.2 per cent for Melbourne in November. Tim Lawless from CoreLogic expects that Sydney and Melbourne will record overall growth rates of 5.3 per cent in 2019; Sydney values fell by 8.9 per cent in 2018, while Melbourne values declined by seven per cent. CoreLogic expects Melbourne home values to increase by up to 14 per cent in 2020, while Sydney home values are predicted to rise by up to 12 per cent.
CORPORATES
CORELOGIC AUSTRALIA PTY LTD
Original article by Euan Black
The New Daily – Page: Online : 11-Dec-19
The Australian Housing & Urban Research Institute has warned that the shortage of affordable rental housing has risen since 2011 and will continue to worsen in coming years. The AHURI estimates that the shortage of affordable homes for the lowest 20 per cent of income earners now tops 212,000. The lead researcher, Swinburne University’s Professor Kath Hulse, says that neither the public or private sector are building enough affordable homes. The AHURI has concluded that the federal government needs to build at least 200,000 affordable homes over the next 10 years.
CORPORATES
AUSTRALIAN HOUSING AND URBAN RESEARCH INSTITUTE, SWINBURNE UNIVERSITY OF TECHNOLOGY
Original article by Peter Eavis
The Age – Page: Online : 22-Nov-19
Co-working pioneer WeWork has confirmed that it will shed staff, although the initial job cuts as not as severe as some media reports had forecast. The 2,400 jobs to be shed equates to almost 20 per cent of WeWork’s global workforce. WeWork also intends to sell or shut down non-core business units, which will further reduce its global headcount by about 1,000. A similar number of employees will be transferred to JLL in December, when cleaning and building maintenance work is outsourced to the real estate services group.
CORPORATES
WEWORK, JLL
Original article by Ingrid Fuary-Wagner
The Australian Financial Review – Page: 32 : 21-Nov-19
Media reports in the US have suggested that co-working pioneer WeWork will retrench 6,000 employees, which is nearly half of its global workforce. Meanwhile, WeWork’s Australian arm is believed to have cancelled deals to lease 20,000sq m of office space in the Sydney CBD and up to 50 per cent of an office building at 100 Queen Street in Melbourne. Sources have also indicated that a proposed deal for WeWork to acquire 401 Collins Street in Melbourne from Impact Investment Group is also unlikely to proceed. It would have been WeWork’s first real estate acquisition in Australia. The company currently has 16 co-working sites in Australia.
CORPORATES
WEWORK, WEWORK AUSTRALIA PTY LTD, IMPACT INVESTMENT GROUP PTY LTD, SOFTBANK CORPORATION, MIRVAC GROUP – ASX MGR, CHINA INVESTMENT CORPORATION, GPT GROUP – ASX GPT
Original article by Duncan Hughes
The Australian Financial Review – Page: 11 : 18-Nov-19
Real estate agents have warned that underquoting is again becoming widespread in the industry, as the residential property market rebounds from the recent downturn. Underquoting was rife during the previous housing boom, and some agents are concerned that the practice is undermining buyers’ confidence. Hoskins Real Estate and one of its directors were recently ordered to pay almost $890,000 in penalties and compensation for underquoting.
CORPORATES
HOSKINS REAL ESTATE
Original article by Nila Sweeney
The Australian Financial Review – Page: 33 & 39 : 14-Nov-19
SQM Research MD Louis Christopher expects growth in housing prices in Australia’s capital cities to average 11 per cent in 2020. The latest edition of Christopher’s Housing Boom and Bust Report forecasts that dwelling prices in Melbourne will rise by up to 15 per cent, while Sydney’s housing market will record growth of 10-14 per cent. However, the Darwin market is expected to buck the trend, with a two per cent downturn in 2020. Christopher says the housing market rebound is unlikely to be sustained over the longer term.
CORPORATES
SQM RESEARCH PTY LTD, AMP CAPITAL INVESTORS LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY
Original article by Nick Lenaghan
The Australian Financial Review – Page: Online : 8-Nov-19
Lendlease has sold its 50 per cent stake in Adelaide’s Westfield Marion to Singapore-listed SPH REIT for $670 million. Westfield Marion is one of the largest shopping centres in Australia and has the 13th highest turnover, while Scentre Group is the centre’s co-owner. SPH REIT is sponsored by media conglomerate Singapore Press Holdings, while the purchase was brokered by Colliers International and CBRE.
CORPORATES
LENDLEASE GROUP – ASX LLC, SPH REIT, SCENTRE GROUP – ASX SCG, SINGAPORE PRESS HOLDINGS LIMITED, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, CBRE PTY LTD
Original article by Nila Sweeney, Larry Schlesinger
The Australian Financial Review – Page: 29 : 7-Nov-19
Real estate developers note that their recent land releases in new housing estates have attracted strong demand among people who are buying their first home. Nigel Edgar of Frasers Property says first-home buyers now account for 35-45 per cent of its sales, compared with just 15 per cent when the residential market was at its peak in 2017. Likewise, Luke Fryer of Metricon says sales to first-home buyers increased by 25 per cent in the three months to September. Off-the-plan apartments are also attracting interest among first-home buyers.
CORPORATES
FRASERS PROPERTY AUSTRALIA PTY LTD, METRICON HOMES, HIGHLAND PROPERTY GROUP, VIRGATE, WOLFDENE, BIS OXFORD ECONOMICS PTY LTD, JINDING DEVELOPMENTS
Original article by Michael Bleby, Matthew Cranston
The Australian Financial Review – Page: 7 : 1-Nov-19
Official data shows that residential building approvals rebounded in September, with overall growth of 7.6 per cent in seasonally adjusted terms. Approvals for detached dwellings increased by 2.6 per cent, and approvals apartments and townhouses rose 16 per cent. Meanwhile, dwelling approvals totalled 176,638 in the year to September, compared with 179,924 in the year to August. Separate data from the Reserve Bank shows that there was an 0.2 per cent increase in housing credit in September, and annual growth of 3.1 per cent.
CORPORATES
RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BIS OXFORD ECONOMICS PTY LTD
ABIX 