L67 Property Operators and Real Estate Services

Melbourne cladding still in place after fire

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Original article by Michael Bleby
The Australian Financial Review – Page: 8 : 16-Jun-17

The tragic Grenfell Tower fire in London and the possible links to its external cladding has led to concerns about buildings with similarly dangerous cladding in Australia. Cladding on one such building, the Lacrosse building in Melbourne, was directed to be removed after it was affected by a potentially lethal fire in November 2014, but the cladding remains. Victorian Planning Minister Richard Wynne says many apartment buildings in Australia could have the same cladding problems as the Lacrosse building.

CORPORATES
VICTORIA. DEPT OF JUSTICE AND REGULATION, LU SIMON BUILDERS PTY LTD, VICTORIA. BUILDING APPEALS BOARD, VICTORIA. BUILDING COMMISSION, MELBOURNE METROPOLITAN FIRE BRIGADE, CSIRO, GREAT BRITAIN. NATIONAL HEALTH SERVICE, GREAT BRITAIN. OFFICE OF THE PRIME MINISTER, QUEENSLAND. DEPT OF HOUSING AND PUBLIC WORKS, ELENBERG FRASER PTY LTD, CHARTER HALL GROUP – ASX CHC, CITY OF PORT PHILLIP, CITY OF MELBOURNE, METROPOLITAN FIRE AND EMERGENCY SERVICES BOARD

Australia rises in house price index

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Original article by Michael Bleby
The Australian Financial Review – Page: 33 : 9-Jun-17

Iceland heads Knight Frank’s latest Global House Price Index, with annualised growth of 17.8 per in the March 2017 quarter. Of the 55 countries covered by the survey, 48 recorded house price increases, with 11 posting an annualised rise of more than 10 per cent. Australia ranks 20th in the list, with strong performances in the Melbourne and Sydney housing markets helping it to achieve annual growth of 7.7 per cent in the March quarter.

CORPORATES
KNIGHT FRANK, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

New home sales coming off peak

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Original article by Michael Bleby
The Australian Financial Review – Page: 34 : 5-Jun-17

New home sales all rose in New South Wales, Victoria and South Australia in April 2017, according to Housing Industry Association figures. Western Australian sales declined by 12.7 per cent, while Queensland sales fell for the fifth month in a row. Australia-wide, sales were up when compared to March, but were 3.3 per cent down on April 2016. HIA senior economist Geordan Murray notes its current forecasts for 2017-18 suggest new home starts will be down by about 10 per cent.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED

REITs at risk in housing slowdown

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Original article by Elizabeth Redman
The Australian – Page: 25 : 1-Jun-17

Data from CoreLogic shows that residential property values across five Australian capital cities fell by 1.1 per cent in May 2017. Analysts and fund managers warn that listed real estate investment trusts could be vulnerable to a slowdown in the housing market. Stuart Cartledge of Phoenix Portfolios notes that developers that have pre-sold apartments will not be hit by any downturn, although future sales volumes may be affected.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, PHOENIX PORTFOLIOS PTY LTD, STOCKLAND – ASX SGP, MIRVAC GROUP – ASX MGR, LEND LEASE GROUP LIMITED – ASX LLC, CEDAR WOODS PROPERTIES LIMITED – ASX CWP, AVJENNINGS LIMITED – ASX AVJ, VILLA WORLD LIMITED – ASX VLW, RESOLUTION CAPITAL LIMITED, CLSA AUSTRALIA PTY LTD, FOLKESTONE MAXIM ASSET MANAGEMENT LIMITED

Housing prices to drop 7pc, bank says

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Original article by Elizabeth Redman, Daniel Palmer
The Australian – Page: 1 & 6 : 4-May-17

Data from REA Group shows that housing demand in New South Wales declined by 7.8 per cent month-on-month in April 2017, while demand among house buyers in Victoria fell 1.6 per cent. Meanwhile, Citigroup has forecast that residential property prices could fall by up to seven per cent in 2018, with apartment prices in Melbourne and Sydney regarded as the most vulnerable to a correction. However, the investment bank adds that any downturn in the property market is unlikely to impact on the broader economy.

CORPORATES
REA GROUP LIMITED – ASX REA, REALESTATE.COM.AU, CITIGROUP PTY LTD, GENWORTH MORTGAGE INSURANCE AUSTRALIA LIMITED – ASX GMA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, UBS HOLDINGS PTY LTD, STOCKLAND – ASX SGP

‘Calling the top’ of the boom in property

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Original article by Matthew Cranston
The Australian Financial Review – Page: 1 & 3 : 24-Apr-17

UBS is of the view that the Australia housing market may have reached its peak, although any easing will amount to a correction rather than a collapse. Auction clearance rates on the weekend of 22-23 April 2017 suggest that UBS’s forecast may be on the mark, with Sydney recording its lowest auction clearance rate since the beginning of the year. However, not everyone agrees with UBS, with analyst Louis Christopher saying it is too early to tell.

CORPORATES
UBS HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CORELOGIC AUSTRALIA PTY LTD, RAY WHITE REAL ESTATE, DOMAIN.COM.AU, DEVINE REAL ESTATE HOLDINGS PTY LTD, BELLE PROPERTY PTY LTD

Aussie mango farm sales surge

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 33 : 10-Apr-17

Herron Todd White has reported a significant rise in the sale of Australian mango farms over the past year. Most of Australia’s mangoes are grown in Queensland and the Northern Territory, with the value of yearly output being around $A140 million. About 50,000 tonnes of mangoes are grown in Australia each year, with about 10 per cent being exported to countries such as Singapore, New Zealand and the United Arab Emirates.

CORPORATES
HERRON TODD WHITE AUSTRALIA PTY LTD, PERFECTION FRESH AUSTRALIA PTY LTD

Confidence in property hits two-year high

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Original article by Matthew Cranston
The Australian Financial Review – Page: 7 : 12-Jan-17

A survey by the ANZ Bank and the Property Council of Australia has found that confidence in the nation’s residential and commercial property markets has risen to its highest level in two years. The Property Confidence Index has risen by two points to 130 points for the March 2017 quarter, and Western Australia is the only state that has not recorded a rise in confidence. Interest rate expectations over the next 12 months have also risen significantly, particularly nationally and in New South Wales.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, PROPERTY COUNCIL OF AUSTRALIA LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UNITED STATES. FEDERAL RESERVE BOARD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Housing approvals post small rise but trend points downwards

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 8 : 10-Jan-17

Data from the Australian Bureau of Statistics shows that there was seven per cent growth in dwelling approvals in November 2016, in seasonally-adjusted terms. House approvals were consistent with the data for October, although there was 17.3 per cent growth in approvals for units. Meanwhile, in trend terms dwelling approvals declined in the six months to November.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, COMMONWEALTH SECURITIES LIMITED, HOUSING INDUSTRY ASSOCIATION LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, JP MORGAN AUSTRALIA LIMITED, UBS HOLDINGS PTY LTD

One listing definitely not in White’s plans

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Original article by Damon Kitney
The Australian – Page: 15 : 9-Jan-17

Ray White Real Estate chairman Brian White has ruled out an IPO. CFO Andrew Jamson says White hopes Australia’s largest real estate firm will remain a family-owned company into the fifth generation. Meanwhile, McGrath Limited’s shares are trading at around $A0.90, compared with an issue price of $A2.10 in late 2015, while founder John McGrath resigned as CEO in August 2016. Another family-owned real estate firm, LJ Hooker, dropped plans for an IPO in 2016.

CORPORATES
RAY WHITE REAL ESTATE, McGRATH LIMITED – ASX MEA, LJ HOOKER (AUSTRALIA) PTY LTD, BELL POTTER SECURITIES LIMITED, JP MORGAN AUSTRALIA LIMITED, LEIGHTON HOLDINGS LIMITED, RAMS HOME LOANS PTY LTD