L67 Property Operators and Real Estate Services

House buyers flock back to revitalise Sydney clearance rates

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 2 : 8-Feb-16

CoreLogic RP Data reports that Sydney’s residential property market boasted an auction clearance rate of 70.2 per cent on the weekend of 6-7 February 2016. This compares with a clearance of just 44.9 for the previous weekend, although the number of homes that were auctioned rose from 61 to 265. The clearance rate in Melbourne was 80.1 per cent, compared with 69.9 per cent one week earlier.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, WARWICK WILLIAMS REAL ESTATE, SQM RESEARCH PTY LTD, RESERVE BANK OF AUSTRALIA

NAB tips unit prices to fall

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 4-Feb-16

National Australia Bank’s latest quarterly survey of the housing market suggests a rise of one per cent in house prices for 2016. Apartment prices are expected to fall by 1.2 per cent. Houses in capital cities experienced average price growth of 7.8 per cent in 2015. The survey is based on the responses of 250 real estate professionals, fund managers, property owners and investors.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Four malls to go in Vicinity sale

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Original article by Mercedes Ruehl, Nick Lenaghan
The Australian Financial Review – Page: 32 : 3-Feb-16

JLL will market four shopping centres on behalf of Australian-listed Vicinity Centres, which revealed plans for up to $A1bn of asset sales in late 2015. The properties to be sold are the Forest Hill Chase and Brimbank shopping centres in Victoria and the Clifford Gardens and Toombul shopping centres in Queensland. Vicinity boasts some $A23 billion worth of assets under management.

CORPORATES
VICINITY CENTRES – ASX VCX, JONES LANG LASALLE AUSTRALIA PTY LTD, FOREST HILL CHASE, BRIMBANK SHOPPING CENTRE, CLIFFORD GARDENS SHOPPING CENTRE, TOOMBUL SHOPPING CENTRE, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, BIG W DISCOUNT STORES, KMART AUSTRALIA LIMITED, SCENTRE GROUP – ASX SCG, THE BLACKSTONE GROUP LP, CHALLENGER LIMITED – ASX CGF, NOVION PROPERTY GROUP

Plea for NSW tenancy laws to embrace email

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Original article by Michael Bleby
The Australian Financial Review – Page: 39 : 2-Feb-16

The New South Wales’ Residential Tenancies Act 2010 should be amended to reflect the growing popularity of electronic conveyancing. The state’s Real Estate Institute CEO Tim McKibbin says new forms of communication, such as electronic mail and text messages, are ubiquitous and this fact should be recognised by legislators. The institute expressed its views on this matter in a submission to the state’s residential tenancy laws review.

CORPORATES
THE REAL ESTATE INSTITUTE OF NEW SOUTH WALES

Trusts on track for good profit season

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 32 : 1-Feb-16

The Australian sharemarket shed more than five per cent during January 2016, although the S&P/ASX 200 A-REIT index achieved a total return of more than one per cent. Meanwhile, Goodman Group and Vicinity Centres are among the listed property trusts that have reported a rise in the value of their portfolios. Investors will be awaiting the February reporting season, which among other things will show how the trusts’ retail tenants performed during the Christmas sales period.

CORPORATES
STANDARD AND POOR’S ASX 200 A-REIT INDEX, GOODMAN GROUP – ASX GMG, VICINITY CENTRES – ASX VCX, DEXUS PROPERTY GROUP – ASX DXS, SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION – ASX WFD, PHOENIX PORTFOLIOS PTY LTD, MORNINGSTAR PTY LTD, INVESTA OFFICE FUND – ASX IOF, MIRVAC GROUP – ASX MGR, STOCKLAND – ASX SGP

Charter Hall’s Southon to go as MD

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Original article by Mercedes Ruehl
The Australian Financial Review – Page: 34 : 29-Jan-16

Some analysts do not expect Charter Hall Group to be significantly affected if co-founder David Southon vacates the role of MD, which he shares with David Harrison. The two executives have been joint MD since 2004, and they are also joint CFO of the Australian-listed property group. While Charter Hall has yet to confirm that Southon will step down, it is believed that he will do so when the group releases its 2015-16 interim financial results in February 2016.

CORPORATES
CHARTER HALL GROUP – ASX CHC, CIMIC GROUP LIMITED – ASX CIM, LEIGHTON PROPERTIES PTY LTD, COLES GROUP LIMITED, RESOLUTION CAPITAL LIMITED, STANDARD AND POOR’S ASX 200 A-REIT INDEX

Gold Coast property ‘the pick’ for 2016

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Original article by Matthew Cranston
The Australian Financial Review – Page: 2 : 25-Jan-16

Ray White Group’s joint chairman Brian White is upbeat about the outlook for the Gold Coast’s residential property market in 2016. He notes that the region is attracting growing interest from interstate buyers. Ray White sold more than $A27m worth of Gold Coast properties on 23 January, at the annual auction known as "The Event". The clearance rate was 53 per cent.

CORPORATES
RAY WHITE GROUP, SQM RESEARCH PTY LTD

Lowy to tap into shop-top living

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Original article by Turi Condon
The Australian – Page: 3 : 21-Jan-16

Westfield Corporation intends to build apartments above or near its shopping centres. Steven Lowy, co-CEO of the Australian-listed group, said Westfield has received approval to build more than 3,000 apartments at its Westfield London, Stratford City and Croydon shopping centres in the UK. It has also gained approval for more than 300 apartments in San Diego.

CORPORATES
WESTFIELD CORPORATION – ASX WFD, GOODMAN GROUP – ASX GMG

Five legal battles to watch in 2016

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 30 : 13-Jan-16

Some high-profile legal disputes in the Australian property sector will be contested in court during 2016. A tenancy dispute between Roy Morgan Research and Impact Investment Group will return to court in February. The Gary Morgan-led market research firm was briefly locked out of its offices in Melbourne’s Collins Street in late December 2015, before a court ordered Impact to grant access to the building. Construction, Forestry, Mining & Energy Union officials John Setka and Shaun Reardon will defend blackmail charges arising from an industrial dispute with Grocon that subsequently embroiled Boral. Sunland Group faces a damages claim by former employee Marcus Lee, while litigation is continuing between Grocon and APN Property Group.

CORPORATES
ROY MORGAN RESEARCH LIMITED, IMPACT INVESTMENT GROUP PTY LTD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, GROCON PTY LTD, BORAL LIMITED – ASX BLD, SUNLAND GROUP LIMITED – ASX SDG, APN PROPERTY GROUP LIMITED – ASX APD, SUPREME COURT OF VICTORIA, FEDERAL COURT OF AUSTRALIA, WESTPAC BANKING CORPORATION – ASX WBC, HIGH COURT OF AUSTRALIA, LEND LEASE GROUP LIMITED – ASX LLC, PRIME RETIREMENT AND AGED CARE PROPERTY TRUST, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Two more years of pain for Perth

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Original article by Jonathan Barrett
The Australian Financial Review – Page: 5 : 5-Jan-16

Residential property values in Perth declined in the fourth quarter of 2015, according to the CoreLogic RP Data Home Value Index, although home prices rose during December. Meanwhile, Satterley Property Group founder Nigel Satterley expects Perth’s residential market to continue to struggle over the next two years. Satterley Property Group typically sells 2,500-3,000 housing lots in Perth each year, but this is forecast to fall to 1,800-2,000 in 2016.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, THE SATTERLEY PROPERTY GROUP PTY LTD, REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA