L67 Property Operators and Real Estate Services

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

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