L67 Property Operators and Real Estate Services

Sydney home prices lead way with 3.4pc surge

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Original article by Michael Bleby
The Australian Financial Review – Page: 9 : 31-May-16

Data from CoreLogic shows that the capital city-average house price index rose by 1.6 per cent in May 2016, compared with 1.7 per cent in April. The data also shows that house prices in Sydney increased by 3.4 per cent in May, although SQM Research’s Louis Christopher believes that prices are growing at a slower pace. Meanwhile, Housing Industry Association data indicates that there was an 8.1 per cent decline in sales of new homes in New South Wales during April.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, SQM RESEARCH PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED

DomaCom, Lloyds in frame for Kidman sale

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Original article by Matthew Cranston
The Australian Financial Review – Page: 9 : 23-May-16

Lloyds Business Brokers and property crowdfunding group DomaCom have joined forces to submit a joint bid for the cattle station portfolio of S. Kidman & Company. Their $A370m bid values Kidman’s land holdings at $A210m, while its operating businesses are valued at $A160m. The Kidman sale has been re-opened after Treasurer Scott Morrison issued a preliminary ruling that its sale to Chinese investors was not in the national interest.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, LLOYDS BUSINESS BROKERS INTERNATIONAL PTY LTD, DOMACOM PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, DAKANG AUSTRALIA HOLDINGS PTY LTD, ERNST AND YOUNG, RIFA SALUTARY PTY LTD, ZHEJIANG RIFA HOLDING GROUP

Top-end sales and a lack of properties drive Sydney housing market

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 7 : 23-May-16

Preliminary data from CoreLogic RP Data shows that Sydney’s residential property market boasted an auction clearance rate of 74 per cent on the weekend of 21-22 May 2016, with 700 homes going under the hammer. The preliminary clearance rate in Melbourne was 70.7 per cent, with 825 properties auctioned. Some 1,900 homes were auctioned across Australia’s capital cities, with a national clearance rate of 70 per cent.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, BELLE PROPERTY PTY LTD, McGRATH LIMITED – ASX MEA

Apartments market warning

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Original article by Lisa Allen
The Australian – Page: 1 & 2 : 17-May-16

BPM CEO Jonathan Hallinan says the stricter lending requirements for apartment buyers has resulted in a downturn in off-the-plan sales in Melbourne. Matrix Property director Andrew Antonas adds that a crackdown on shifting money out of China and lending restrictions by Australian banks has reduced demand for apartments in Sydney among Chinese buyers. Some overseas developers are also seeking to offload their development sites due to the difficulty in obtaining financing.

CORPORATES
BPM PTY LTD, MATRIX PROPERTY GROUP PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RALAN PTY LTD

Foreign buyers and super push $1b beef boom

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Original article by Matthew Cranston
The Australian Financial Review – Page: 32 : 16-May-16

The growing demand for Australian cattle stations is being driven by superannuation funds and foreign investors. A number of local companies are also buying cattle farms in partnership with overseas pension funds, while the sector continues to attract interest from Chinese investors. It is estimated that almost $A500m worth of cattle stations have changed hands in recent weeks, and sales in the sector are on track to top $A1bn in 2016.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, PARAWAY PASTORAL COMPANY LIMITED, WESTERN GRAZING COMPANY, QIC LIMITED, NORTH AUSTRALIAN PASTORAL COMPANY, STICHTING PENSIOENFONDS ABP, PENSION PROTECTION FUND, QUEENSLAND. LONG TERM ASSET ADVISORY BOARD, HEWITT CATTLE AUSTRALIA, CANADA. PUBLIC SECTOR PENSION INVESTMENT BOARD, GUNN AGRI PARTNERS, ZHEJIANG RIFA HOLDING GROUP, RIFA SALUTARY PTY LTD, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, CBRE PTY LTD, DAKANG AUSTRALIA HOLDINGS PTY LTD, S KIDMAN AND COMPANY PTY LTD, THYNNE AND MACARTNEY

Westfield Corp will still call Australia home

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Original article by Matthew Cranston
The Australian Financial Review – Page: 30 : 13-May-16

US-focused Westfield Corporation has ruled out shifting its primary listing from the Australian sharemarket to the US, although the group will consider a dual-listed structure. Chairman Frank Lowy says the board decided that there would be minimal benefit from relocating Westfield’s primary listing at present, and said he does not intend to retire from the board. Meanwhile, Westfield has advised that specialty retail sales at its shopping centres rose by 4.4 per cent in the year to March 2016.

CORPORATES
WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG

Global real estate group grabs historic Myer stake

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Original article by Ben Wilmot
The Australian – Page: 26 : 12-May-16

Myer Family Investments has secured a deal to sell its 33 per cent stake in Myer Holdings’ flagship department store in the Melbourne CBD. TIAA subsidiary TH Real Estate has previously acquired stakes in a number of retail properties in Australia as part of its plans to expand its presence in the country. The deal values the 39,923sq m Myer store at around $A450m. Its other owners are Vicinity Centres and Singapore-based GIC Real Estate.

CORPORATES
MYER FAMILY INVESTMENTS, MYER HOLDINGS LIMITED – ASX MYR, TIAA HENDERSON GLOBAL REAL ESTATE, TH REAL ESTATE, VICINITY CENTRES – ASX VCX, GIC REAL ESTATE PTE LTD, JONES LANG LASALLE AUSTRALIA PTY LTD, ISPT PTY LTD, THE BLACKSTONE GROUP LP, LASALLE INVESTMENT MANAGEMENT INCORPORATED, AMP CAPITAL INVESTORS LIMITED

Morgan’s property fight ends in stalemate

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Original article by Simon Johanson
The Age – Page: 32 : 11-May-16

The Supreme Court of Victoria has ruled that there are no grounds for either Roy Morgan Research or Impact Investment Group to terminate the former’s lease at 401 Collins Street, Melbourne. Justice Clyde found that neither party had breached the terms of the 10-year lease and are therefore not entitled to damages. The dispute centred on the replacement of the building’s elevators. Roy Morgan Research executive chairman Gary Morgan had withheld rent payments due to the dispute, which culminated in IIG locking the market research firm out of its premises.

CORPORATES
ROY MORGAN RESEARCH LIMITED, IMPACT INVESTMENT GROUP PTY LTD, SUPREME COURT OF VICTORIA

Rates cut, fiscal plan keep real estate ticking

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Original article by Michael Bleby
The Australian Financial Review – Page: 6 : 5-May-16

Angus Raine, the executive chairman of Raine & Horne, says the Reserve Bank’s move to reduce the cash rate to 1.75 per cent should attract first-time buyers back to the property market. Most experts do not expect the rate cut and the Australian Government’s May 2016 Budget to have much impact on activity in the residential market, but some suggest that the new rules on superannuation fund balance transfers will prompt increased demand for lower-priced commercial properties.

CORPORATES
RAINE AND HORNE PTY LTD, RESERVE BANK OF AUSTRALIA, CBRE PTY LTD, CENTURY 21 REAL ESTATE, RAY WHITE REAL ESTATE, SECRET AGENT PROPERTY SERVICES

RBA says rate cut won’t boost house prices

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 5 : 4-May-16

The Housing Industry Association has urged Australia’s major mortgage lenders to match the Reserve Bank’s 25 basis point reduction in the cash rate. Property industry experts say the new cash rate of 1.75 per cent will encourage first-home buyers to enter the property market, while LJ Hooker CEO Grant Harrod adds that it will bolster the housing markets of capital cities that are underperforming. The central bank does not expect the rate cut to significantly increase house prices.

CORPORATES
RESERVE BANK OF AUSTRALIA, HOUSING INDUSTRY ASSOCIATION LIMITED, LJ HOOKER (AUSTRALIA) PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, RATECITY PTY LTD, FINDER.COM.AU, MORTGAGE CHOICE LIMITED – ASX MOC, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, THE REAL ESTATE INSTITUTE OF QUEENSLAND LIMITED