L67 Property Operators and Real Estate Services

Minister denies plan is social engineering

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Original article by Kim Macdonald
The West Australian – Page: 9 : 22-Sep-14

The Western Australian Government has been criticised over public housing sales. After it was revealed that 55 state-owned properties are valued at over $A1 million, Housing Minister Bill Marmion said that high-value properties are usually sold. Shadow housing minister Fran Logan said that selling the properties was social engineering to keep poor people out of wealthier areas. He said that the land should be rezoned for public housing

CORPORATES
WESTERN AUSTRALIA. DEPT OF HOUSING, AUSTRALIAN LABOR PARTY

Planning disputes at VCAT take fall as price rises

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Original article by Clay Lucas
The Age – Page: 14 : 19-Sep-14

The Victorian Civil & Administrative Tribunal heard 2,186 planning disputes in 2013-14, down from 3,443 the previous year. However, its annual report revealed that it received nearly $A1 million more. Fees rose significantly from July 2013. Victorian Attorney-General Robert Clark said that changes to planning laws led to the drop in applications. The Opposition and a lawyer said that people could not afford the high fees

CORPORATES
VICTORIA. CIVIL AND ADMINISTRATIVE TRIBUNAL, VICTORIA. OFFICE OF THE ATTORNEY-GENERAL, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF TRANSPORT, PLANNING AND LOCAL INFRASTRUCTURE

Higher yields attract capital

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Original article by Robert Harley
The Australian Financial Review – Page: 37 : 16-Sep-14

Australia has attracted more than its share of global investment in commercial real estate since 2005. CBRE reported that Australia has attracted five per cent of investment, while accounting for only two per cent of the global economy. Stephen McNabb, of CBRE, said that Australia’s stable economic conditions led to higher interest rates and yields. He expects the trend to continue for 12-18 months

CORPORATES
CBRE PTY LTD, GIC REAL ESTATE PTE LTD

Woolworths’ pub fund lightens load with $603m property sale

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Original article by Ben Wilmot, Richard Gluyas
The Australian – Page: 17 : 9-Sep-14

Real estate funds management group Charter Hall and industry superannuation fund HOSTPLUS will jointly pay $A603m via a new unlisted vehicle to acquire pub assets. The seller of the freehold properties is the ALH Group linked to bottle shops and pubs operator Woolworths. The latter, through its venture with entrepreneur Bruce Mathieson, will lease back the 54 sites. The real estate holdings divestment by Woolworths has now reached $A2.9bn in value

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, CHARTER HALL GROUP – ASX CHC, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, BRUANDWO PTY LTD, HOST-PLUS, MH CARNEGIE AND COMPANY PTY LTD, AUSTRALIAN PUBS FUND, DAN MURPHY’S, BWS – BEER WINE SPIRITS, SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP – ASX SCP, LAUNDY HOTELS PTY LTD, TELSTRA STAFF SUPERANNUATION SCHEME, ALE PROPERTY GROUP – ASX LEP, HOTEL PROPERTIES INVESTMENTS – ASX HPI, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES

Correction in housing market ‘inevitable’

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Original article by Damon Kitney
The Australian – Page: 21 : 3-Sep-14

Residential real estate prices have risen an average 15% in a year in the Australian state and territory capital markets, while auction clearance rates in late August 2014 are around 70%. Australian Prudential Regulation Authority data also indicate that the main four banks are taking on riskier mortgage loan borrowers. However business leader David Gonski says while an eventual price decline is a certainty in the housing market, the banks are able to manage their lending strategies

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, SCHULTE RESEARCH INTERNATIONAL

Agents deny Asian rorts in blue-chip buys

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Original article by Larry Schlesinger
The Australian Financial Review – Page: 8 : 2-Sep-14

The Australian Parliament’s housing inquiry has heard claims about overseas buyers in the residential real estate market trying to circumvent Foreign Investment Review Board regulations. However, this is being dismissed by McGrath Real Estate Agents founder and CEO John McGrath and First National Real Estate CEO Ray Ellis. They argue against any push to lift stamp duty rates for such investors. Melbourne-based buyers’ agent David Morrell had alleged that Asian bidders were inflating prices by as much as 30% and acting illegally as they were not permanent residents

CORPORATES
MORRELL AND KOREN PTY LTD, McGRATH REAL ESTATE PTY LTD, FIRST NATIONAL REAL ESTATE GROUP, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, PROPERTY COUNCIL OF AUSTRALIA LIMITED, HOUSING INDUSTRY ASSOCIATION LIMITED, LIBERAL PARTY OF AUSTRALIA

Outer suburbs join $1m club

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Original article by Shane Wright, Liam Croy
The West Australian – Page: 9 : 26-Aug-14

Nearly 50 suburbs in Perth have a median house price of at least $A1 million in 2014. RP Data-Rismark reported that the most expensive suburb was Peppermint Grove, with a median price of over $A3.7 million. Other expensive suburbs are Dalkieth, Cottesloe, City Beach, Applecross, Swanbourne and Mosman Park. However, the prices of houses in some suburbs on the outer fringes have increased. The median price for a house at Mariginiup is $A1.3 million

CORPORATES
RP DATA LIMITED, CORELOGIC AUSTRALIA PTY LTD, RISMARK INTERNATIONAL PTY LTD, PEARD AND ASSOCIATES REAL ESTATE

Landlords hit by glut of apartments

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Original article by Michael Bleby,Samantha Hutchinson
The Australian Financial Review – Page: 5 : 21-Aug-14

The growth of the apartment market in Sydney and Melbourne has prompted a sharp downturn in rental income for landlords. RP Data notes that there has been a 6.4 per cent fall in weekly advertised rents for apartments in Melbourne’s Southbank precinct in the last year, and a 3.6 per cent fall in the Docklands. Property consultant Margaret Lomas says demand for apartments in Melbourne is significantly outpacing supply

CORPORATES
RP DATA LIMITED,CORELOGIC AUSTRALIA PTY LTD,DESTINY PROPERTIES PTY LTD,VICTORIA. DEPT OF TRANSPORT, PLANNING AND LOCAL INFRASTRUCTURE

Apartment appeal on the up

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Original article by Rebecca Thistleton
The Australian Financial Review – Page: 41 : 19-Aug-14

There is strong demand for apartment development sites in inner Melbourne. A vacant site in Carlisle Street in St Kilda, with a permit for a 68-unit project, was sold for $A6.8 million. A site at 30 Inkerman Street in St Kilda, with a permit for a 54-unit development, was sold for over $A6 million. Another site at 71 Inkerman Street, with a permit for a 22-unit development, is also for sale

CORPORATES
HAYBALL PTY LTD, ELEMENT FIVE PTY LTD, CBRE PTY LTD, BUILDCORP COMMERCIAL PTY LTD, ALPHA14 PTY LTD

Investors queueing for elusive dairy farms

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Original article by Matthew Cranston
The Australian Financial Review – Page: 39 : 18-Aug-14

The Australian Dairy Farms Group plans to list on the Australian sharemarket in October 2014. However, there are relatively few opportunities for investors to buy into companies that own dairy farms, despite the strong growth in demand for dairy products in recent years. Corporate and Chinese investors account for more than 50 per cent of investors who will attend the Australian Dairy Farm Investment Forum in September

CORPORATES
AUSTRALIAN DAIRY FARMS LIMITED, BELL POTTER SECURITIES LIMITED, BELL FINANCIAL GROUP LIMITED – ASX BFG, WARRNAMBOOL CHEESE AND BUTTER FACTORY COMPANY HOLDINGS LIMITED – ASX WCB, PACTUM DAIRY GROUP PTY LTD, HARVEY FRESH, DAIRY AUSTRALIA, KIDDER WILLIAMS LIMITED, ACE FARMING PTY LTD, VALAD PROPERTY GROUP, BLACKSTONE REAL ESTATE ADVISORS LLC, DUXTON ASSET MANAGEMENT PTE LTD, NORCO CO-OPERATIVE LIMITED