blog.buysellrealestate.com.au

It had to happen eventually. After 20% growth last year, this year looks like a return to normal, with the median house price rising by just 2% between December ‘07 and March ‘08 (source: homepriceguide.com.au/media_release/APM_HousePriceSeries_MarchQ08.pdf” target=”_blank”>Australian Property Monitors). Apartment prices actually dropped 2%, possibly caused by investors pulling out of the market.

I heard someone say today that the really big investors are pulling out of stocks and property and just waiting until things stabilise one way or the other. So until we know for sure what’s going on with property prices and interest rates, investors will stay clear, prices will remain steady or decline, and the buyers will be the ones in the box seat. So long as you can afford the mortgage repayments

The heritage-listed 1889 No.2 Railway Goods Shed in Docklands,
Melbourne, is set to undergo redevelopment with the creation of a new
village-style precinct comprising of shops and cafes.

Research by Knight Frank has indicated that the four major business
parks in Sydney, namely Macquarie/North Ryde, Homebush/Rhodes,
Mascot and Norwest, now account for 12% of Sydney’s total office stock.

Although Queensland experienced the greatest increase in population
last year according to the ABS, it is losing market share, in terms of
population growth, to other states.

This looks good:

"Prime city land will be transformed into hundreds of new affordable apartments under a $260 million project to bring key workers, priced out of the property market, closer to their work."
- Sydney Morning Herald

It’ll take about 5 years to complete, and will be partly funded by government and private housing sales. Much, much more needs to be done to get more affordable housing back into the major cities. If this works, it could provide a working model for other governments.

According to Terry Ryder, owner of Hotspotting.com.au , you should avoid buying real estate in places like Queensland’s Sunshine Coast and Mt Isa, the Victorian town of Shepparton, and suburban Bankstown in Sydney. Generally it has something to do with a high crime rate, overdeveloped and overpriced markets, or excess traffic congestion.

In some ways he has a fair point to make, and I think the bagging he’s been getting from some of those towns mentioned in the "anti-hotspot" report is an example of denial. We always like to think of our own backyard as being the perfect place to live, and sometimes we don’t like it when some bloke from out of town sends a bit of criticism our way. But I think it can be good to get an outsider to assess things, and point out a few negatives, especially if local government is not doing anything about it. Perhaps those towns should now take up the challenge, turn things around, and get themselves onto everyones list of hot places to live.

You can read more about it in the Herald-Sun , or go and buy yourself a copy of the report from Terry’s website.

One of the most prominent and visible buildings in Melbourne’s Southbank has sold at a 4.2% yield through an Expressions of Interest process conducted by Kliger Wood Real Estate.

Axiom Properties Limited has sold out of its 50% interest at the $300 million 100 St George’s Terrace office building Perth that it held with Industry Superannuation Property Trust.

A Woolworths petrol station with a long term lease in Kingston,
Queensland, has sold at auction well above the reserve price following
intense bidding by several parties.

A brand new McDonalds with the latest fit-out in Benalla, Victoria, has sold at an auction that was conducted by Burgess Rawson.