L67 Property Operators and Real Estate Services

Sydney’s bleak outer west the outlier in record home auctions

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Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 21-Mar-16

Data from APM PriceFinder shows that Sydney’s residential property market recorded an auction clearance rate of 75 per cent on the weekend of 19-20 March 2016, with 911 dwellings going under the hammer. Andrew Wilson of Domain notes the wide variation in clearance rates across Sydney, with the clearance rate in western Sydney remaining at around 40 per cent. The clearance rate in Melbourne eased from 76 per cent to 74 per cent, with 1,600 properties listed for auction.

CORPORATES
AUSTRALIAN PROPERTY MONITORS PTY LTD, DOMAIN.COM.AU, DEVINE REAL ESTATE HOLDINGS PTY LTD, PLACE ESTATE AGENTS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Nation’s wealthy line up for slice of Kidman

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Original article by Sue Neales
The Australian – Page: 1 & 2 : 17-Mar-16

A decision on whether the sale of the S Kidman & Company rural property business to foreign buyers can proceed is likely in early April 2016. Three overseas consortiums were shortlisted to buy the Kidman assets, but it has been revealed that a number of potential Australian buyers have since been permitted to undertake due diligence. There have been suggestions that the decision was politically motivated, due to concerns about the sale of large landholdings to foreign interests.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, ERNST AND YOUNG, SHANGHAI PENGXIN GROUP COMPANY LIMITED, GENIUS LINK ASSET MANAGEMENT GROUP, AUSTRALIAN COUNTRY CHOICE PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, LINFOX PTY LTD, MOON LAKE INVESTMENTS PTY LTD, VAN DIEMEN’S LAND COMPANY, TASFOODS LIMITED – ASX TFL, KATHMANDU HOLDINGS LIMITED – ASX KMD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES

‘Very messy end’ to the apartment boom predicted

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Original article by Robert Harley
The Australian Financial Review – Page: 2 : 11-Mar-16

BIS Shrapnel’s MD Robert Mellor forecasts that Australian dwelling starts will peak in the March 2016 quarter, driven by growth in apartment developments. However, he has warned that the apartment boom is also approaching its peak, and New South Wales will be the only state that does not have a dwelling oversupply by 2016-17. Mellor forecasts that Melbourne and Brisbane will be hardest hit by the downturn in the apartments market.

CORPORATES
BIS SHRAPNEL PTY LTD

Rate of investor home loans plummets

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 10-Mar-16

Figures from the Australian Bureau of Statistics show that total lending to residential property investors fell by 14.8 per cent to a seasonally adjusted $A11.36 billion in January 2016. This is the fastest rate of decline in seven years. Total lending to owner-occupiers increased by 15.9 per cent in the 12 months to January 2016.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, HSBC AUSTRALIA HOLDINGS PTY LTD, MIRVAC GROUP – ASX MGR, AMP CAPITAL INVESTORS LIMITED, UBS HOLDINGS PTY LTD

Sydney auction success slips, but Melbourne holds its own

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Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 7-Mar-16

Sydney’s residential property market boasted an auction clearance rate of 73.3 per cent on the weekend of 5-6 March 2016, compared with 76.9 per cent one week earlier. The clearance rate in Melbourne rose from 75.3 per cent to 75.8 per cent, and Andrew Wilson of Domain expects a large rise in auction listings for the "super Saturday" ahead of the Easter break.

CORPORATES
DOMAIN.COM.AU, AUSTRALIAN PROPERTY MONITORS PTY LTD, ABERCROMBYS REAL ESTATE PTY LTD, SIMEON MANNERS PROPERTY, JP MORGAN AUSTRALIA LIMITED, TOGA PTY LTD

Crowdfunding gay retirement village

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 34 : 4-Mar-16

DomaCom intends to use crowdfunding to raise funds for the construction of a gay and lesbian retirement village near Ballan in Victoria. CEO Arthur Naoumidis says crowdfunding for property development is a form of internet-based syndication. The proposed development involves constructing 120 dwellings on a 30-acre block of land, at a cost of $A10 million to $A12 million.

CORPORATES
DOMACOM LIMITED, S KIDMAN AND COMPANY PTY LTD

House-boom paradox may signal a structural change

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Original article by Robert Harley
The Australian Financial Review – Page: 42 : 3-Mar-16

CoreLogic has identified a paradoxical trend in the real estate market in Australia. Since 2003, the value of housing sales has risen by more than 30 per cent in Sydney and Melbourne while the number of sales has declined by nearly 20 per cent. In 2015, 482,000 houses and apartments were sold, worth a record $A293 billion. In 2003, more than 621,000 properties were sold, worth $A200 billion.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD

No ‘Big Short’ house price crash in auction results

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 3 : 29-Feb-16

Preliminary data shows that Sydney’s residential property market boasted an auction clearance rate of 73.3 per cent on the weekend of 27-28 February 2016, with 872 homes going under the hammer. The clearance rate in Melbourne was 75 per cent, with 1,327 properties up for sale. CoreLogic RP Data notes that the combined capital city clearance rate was higher than 70 per cent for the fourth week in a row.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN PROPERTY MONITORS PTY LTD, VARIANT PERCEPTION, APT CAPITAL MANAGEMENT PTY LTD, LF ECONOMICS

Westfield posts US$2.3bn net profit in first full year

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 25-Feb-16

Australian-listed Westfield Corporation has posted a net profit of $US2.3bn ($A3.2bn) for calendar 2015. The real estate investment trust was created in 2014 via a restructuring of the Westfield Group. The US and Europe-focused Westfield has reported funds from operations of $US783.4m for 2015, which equates to $A0.377 per security.

CORPORATES
WESTFIELD CORPORATION – ASX WFD

Scentre posts steady growth, higher fees

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 24-Feb-16

Australian-listed shopping centres landlord Scentre Group has reported that its funds from operations rose by 3.8 per cent to $A1.199bn in calendar 2015, which equates to $A0.2258 per security. The real estate investment trust expects funds from operations to increase by three per cent in 2016. Investors will receive a full-year distribution of $A0.209 per security, which is forecast to rise to $A0.213 in 2016.

CORPORATES
SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION – ASX WFD, MORGAN STANLEY AUSTRALIA LIMITED