L67 Property Operators and Real Estate Services

CBA to cut lending for new homes

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Original article by Michael Bleby
The Australian Financial Review – Page: 10&8 : 10-Aug-15

The Commonwealth Bank of Australia plans to introduce restrictions on lending to first-home buyers and investors for property purchases in greenfield housing developments. The bank told brokers that the approval of finance for buyers of land lots would be delayed until all preliminary work on the project has been completed. Developers worry that the plan, if implemented, would have a negative impact on the housing sector.

CORPORATES
URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (VICTORIA), COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, FRASERS AUSTRALAND PTY LTD, HOUSING INDUSTRY ASSOCIATION LIMITED

Landlord nation: 18,000 own six or more rental properties

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Original article by Su-Lin Tan, Fleur Anderson
The Australian Financial Review – Page: 4 : 7-Aug-15

New figures show that some 16 per cent of Australian taxpayers owned a residential investment property in 2012-13. More than 110,000 taxpayers owned more than three rental properties, while about 18,000 had a portfolio of at least six. Shane Garrett of the Housing Industry Association says factors such as rising house prices and population growth means a lot more people probably now own at least one investment property.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED

Office tenants up but with eye on new supply

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Original article by Robert Harley
The Australian Financial Review – Page: 45 : 6-Aug-15

Sydney’s CBD office vacancy rate fell to 6.3 per cent in July 2015. Strong demand for office space is not limited to the CBD but is also evident in a number of metropolitan areas, including North Ryde, Chatswood and North Sydney. Stephen McNabb, the head of research at CBRE, expects this trend to continue for the next two to three years.

CORPORATES
CBRE PTY LTD, PROPERTY COUNCIL OF AUSTRALIA LIMITED, JONES LANG LASALLE AUSTRALIA PTY LTD, LPC AUSTRALIA PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, ASHURST AUSTRALIA, ERNST AND YOUNG, DEXUS PROPERTY GROUP – ASX DXS

Demand soars in big cities as mining eases

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 44 : 6-Aug-15

Recent data on Australia’s commercial vacancy rates suggest that non-mining sectors are expanding. The Property Council of Australia’s "Office Market Report" for July 2015 shows that Sydney’s vacancy rate fell to 6.3 per cent in July, from 7.4 per cent in January. Sectors that are particularly active in the office market include educational institutions, insurance companies, banks, fintech hubs and government departments.

CORPORATES
PROPERTY COUNCIL OF AUSTRALIA LIMITED, TYRO PAYMENTS, COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, MMJ REAL ESTATE PTY LTD, AUSTRALIAN TECHNICAL AND MANAGEMENT COLLEGE PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BANK OF QUEENSLAND LIMITED – ASX BOQ, KNIGHT FRANK AUSTRALIA PTY LTD, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG

New house sales may have peaked

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Original article by Michael Bleby
The Australian Financial Review – Page: 8 : 4-Aug-15

Sales of new detached homes across Australia topped 73,507 in 2014-15, compared with 72,706 in the previous financial year. Harley Dale of the Housing Industry Association says that while demand for detached homes will remain strong in 2015-16, sales are likely to be lower due to a dearth of land being released for development.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, MORGAN STANLEY AUSTRALIA LIMITED, RESERVE BANK OF AUSTRALIA

Buyers scoop up all 191 units in western Sydney project

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 5 : 3-Aug-15

Sydney’s residential property market boast an clearance rate of 78.8 per cent for the week ended 2 August 2015, according to CoreLogic RP Data. The clearance rate in Melbourne was 76.8 per cent, while the national clearance rate was 75.7 per cent. Meanwhile, First Point Projects and St Hilliers First Point sold every apartment on offer in the Thornton Central residential project in the Sydney suburb of Penrith on 1 August.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, FIRST POINT PROJECTS PTY LTD, ST HILLIERS PTY LTD, RESERVE BANK OF AUSTRALIA, AUSTRALIAN NATIONAL UNIVERSITY, HOUSING INDUSTRY ASSOCIATION LIMITED, McGRATH REAL ESTATE PTY LTD

Chinese top investors in commercial sites

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Original article by Mercedes Ruehl, Robert Harley
The Australian Financial Review – Page: 36 : 29-Jul-15

Colliers International estimates that Chinese investors have accounted for more than $A4bn worth of commercial property deals in Australia so far in 2015. Colliers’ Nerida Conisbee expects Chinese activity in the local market to keep increasing. Mark Wizel of CBRE also notes growing interest among Chinese investors, particularly office buildings priced below $A50m and hotels.

CORPORATES
COLLIERS INTERNATIONAL HOLDINGS (AUSTRALIA) LIMITED, CBRE PTY LTD, CHINA INVESTMENT CORPORATION, PROPERTYLINK PTY LTD, PROPERTY COUNCIL OF AUSTRALIA LIMITED, JLL HOTELS

Median house price in Sydney tops $1m

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 23-Jul-15

New data from Domain Group shows that the median house price in Sydney rose by 22.9 per cent in 2014-15, to a record high of slightly more than $A1m. The harbour city’s median house price was just $A814,285 in 2013-14. Meanwhile, Sydney’s median apartment price rose by 13.9 per cent to $A656,078. Housing remains more affordable in Melbourne, with the median price of houses rising by 10.3 per cent to $A668,030 and apartment prices rising by 4.5 per cent to $A443,549.

CORPORATES
DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ

Boom in large Melbourne apartments

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 40 : 21-Jul-15

Secret Agent has released data which shows that the median price of a one-bedroom apartment in Melbourne was steady at $A380,000 in 2014-15. However, the median price of two-bedroom apartments increased by 4.7 per cent to $A582,000, while the median price of apartments with at least three bedrooms rose by 7.2 per cent to $A950,000. The rising price of larger apartments is said to have been driven by demand from families and Baby Boomers who are downsizing their homes.

CORPORATES
SECRET AGENT PROPERTY SERVICES, THE REAL ESTATE INSTITUTE OF VICTORIA LIMITED

Sydney, Melbourne fast sellers

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 17-Jul-15

CoreLogic’s data for private treaty sales in April 2015 shows that houses in Sydney were sold an average of 26 days after being put on the market, compared with an average of 31 days in May 2014. Likewise, the average number of days required to sell a home via private treaty sale in Melbourne fell from 43 to just 32. CoreLogic also reports that some 17,282 residential properties are currently for sale in Sydney, while 26,987 are on the market in Melbourne.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ