blog.buysellrealestate.com.au

A residential development site at Prospect in Sydney’s west has been
sold at an intensely competitive auction by agents of CB Richard Ellis.

Demand for Australian office space has moderated, resulting in the
first national vacancy rate increase since January 2004, according to
the Property Council’s latest Office Market Report research.

Office vacancies in the CBD have eased slightly in the past six months
on the back of a big increase of new office space being added to the
market according to the Property Council of Australia’s latest Office
Market Report.

Challenging times are ahead for the Brisbane office market, according
to the Property Council of Australia’s July 2008 Office Market Report,
despite good performances over the past six months, though Knight Frank
has predicted a return to a balanced market.

Vacancy levels in the Melbourne CBD office market have dropped to a
record low in the six months to July 2008, according to the Property
Council of Australia’s Office Market Report released today.

Supply additions and negative demand caused the vacancy rate in
Canberra to increase from 2.2% to 6.1% in the six months to July 2008,
according to the Property Council of Australia’s Office Market Report.

Office vacancies in Parramatta have reached their lowest levels in over
four years according to the Property Council of Australia.

According to the Property Council of Australia’s July 2008 Office
Market Report, new stock additions are contributing to a culture of
growth on Queensland’s Gold Coast.

Ongoing speculation and perceptions of possible large and widespread
price drops in the residential property sector are creating unwarranted
fear and confusion amongst owners and investors, according to Braxton
Chase.