The commercial auction market for September 2007 has shown mixed results, with New South Wales again failing to clear 50%, while Victorian clearance is up 6% points to over 70%, according to independent property analysts CPM Research.
A warehouse and office building in Bayswater, Victoria, has been purchased by an undisclosed buyer for $436/sqm. The building is situated on a 6775 sqm site which has a 61 metre street frontage.
Home building approvals are on the longest downturn in history, according to HIA, with national approvals slumping 1.7% in August to just 12,751. Apartment approvals fell by a staggering 7%.