REAL ESTATE – VICTORIA – RESIDENTIAL

36,000 home hangover for Melbourne market: SQM Research

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Original article by Nathan Mawby
news.com.au – Page: Online : 9-Jan-19

SQM Research has reported that there were over 36,000 homes still up for sale in Melbourne at the end of 2018. This represents an increase of 25 per cent when compared to the end of 2017, when around 29,000 homes were on the market. SQM Research head Louis Christopher says the increase in unsold homes shows that sellers are not prepared to accept "low-ball" offers for their homes. He says that quite a number of vendors have withdrawn their homes from the market altogether, and that these sellers would put their houses back on the market in 2019.

CORPORATES
SQM RESEARCH PTY LTD

Alarm bells in housing as losses widen

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Original article by Elizabeth Redman
The Australian – Page: 17 & 21 : 30-Oct-18

UBS has reported that the percentage of capital city apartments that are being resold at a loss when compared to their previous purchase price has risen to 14.3 per cent, the highest since the 1990s. UBS also notes one in three homes sold off the plan in Sydney have a lower valuation at settlement when compared to the original sale price. Meanwhile, Fragrance Group has abandoned plans for an apartment project at 555 Collins Street in Melbourne. The site has been sold to a Charter Hall fund with the expectation that it will now be used for an office tower.

CORPORATES
UBS HOLDINGS PTY LTD, FRAGRANCE GROUP LIMITED, CHARTER HALL GROUP – ASX CHC, MOODY’S ASIA-PACIFIC LIMITED, AMP CAPITAL INVESTORS LIMITED, MORGAN STANLEY AUSTRALIA LIMITED

Units are now selling faster than houses in downturn-hit Sydney

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Original article by Michael Bleby
The Australian Financial Review – Page: Online : 11-Sep-18

Domain figures reveal that homes and apartments in Sydney were both on the market for an average of 67 days in August. The figure for homes represents an increase of 20 days when compared to the same time in 2017, while apartments were only taking nine more days to sell. Homes in Melbourne were taking an average of 55 days to sell in August, compared to 44 in August 2017. Melbourne apartments were taking an average of 77 days to sell in August, down from 88 days for the same time in 2017.

CORPORATES
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, WESTPAC BANKING CORPORATION – ASX WBC

Bitcoins OK for purchase of mansion

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Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 29-Nov-17

The vendor of a home at Mt Macedon in Victoria is happy to accept payment for the property in bitcoin, with the six-bedroom home available at $A2.5 million in "fiat currency terms". Dominic Romeo from Unique Estate, which is selling the property, believes it could start a trend that other vendors around Australia are likely to follow. However, property owner Paul Hosking is not quite so certain, saying that being prepared to accept bitcoin for your home is not something he would recommend without first carefully researching the topic.

CORPORATES
UNIQUE ESTATE, LONDON WALL

Melbourne ‘not oversupplied’

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 33 : 24-Jun-16

Asian Pacific Group CEO Will Deague claims that there is no oversupply of apartments in Melbourne, and in fact not enough apartments are being built in the Victorian capital. Asian Pacific Group’s Melbourne developments include the Whitehorse Towers apartment project in Box Hill and the Collins House project in the CBD. The latter is a joint project with another developer.

CORPORATES
ASIAN PACIFIC GROUP PTY LTD, FAR EAST CONSORTIUM HOLDINGS (AUSTRALIA) PTY LTD, PONTIAC LAND GROUP

Cbus, Brookfield team up in $150m apartment plan

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 33 : 23-Nov-15

Cbus Property and Brookfield Property Partners will undertake two upmarket apartment projects in the inner-city suburb of East Melbourne. The projects comprise an 11-storey apartment building at 178 Wellington Parade and the conversion of Mosspennoch House at 22 Clarendon Street into six apartments. A seven-storey apartment building will also be developed on the latter site.

CORPORATES
CBUS PROPERTY PTY LTD, BROOKFIELD PROPERTY PARTNERS LP, ACCOR ASIA PACIFIC, PULLMAN ON THE PARK, BATES SMART ARCHITECTS PTY LTD, THAKRAL HOLDINGS GROUP, HILTON HOTELS CORPORATION

Call for suburbs to grow up, not out

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Original article by Michael Bleby
The Australian Financial Review – Page: 58 : 29-Oct-15

Changes must be made to zoning rules for established suburban areas in Melbourne. Victorian Planning Minister Richard Wynne has announced a review of rezoning decisions made by predecessor Matthew Guy, but he must proceed cautiously because of possible opposition from municipal councils. Leonard Teplin of real estate agency Marshall White says denser residential development is needed in suburbs to accommodate population growth.

CORPORATES
VICTORIA. DEPT OF TRANSPORT, PLANNING AND LOCAL INFRASTRUCTURE, MARSHALL WHITE AND COMPANY PTY LTD, MIRVAC GROUP – ASX MGR

Apartment owners burnt by cladding cost

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Original article by Michael Bleby
The Australian Financial Review – Page: 39 : 27-Oct-15

The City of Melbourne’s Municipal Building Surveyor has ruled that cladding panels on the exterior of a Docklands apartment building must be replaced within 12 months. The imported cladding used on the 23-storey LaCrosse tower does not comply with the Building Code of Australia’s fire-safety standards. The full cost of replacing the cladding must be met by apartment owners and the building’s body corporate.

CORPORATES
CITY OF MELBOURNE, VICTORIA. DEPT OF TRANSPORT, PLANNING AND LOCAL INFRASTRUCTURE

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