Real Estate & Commercial News in Australia from Propertyshowrooms.com

Australian commercial property market "stable"

Fri, 4 May 2012 00:00:00 GMT

There has been little change in the performance of the Australian commercial real estate sector in the first quarter of 2012, compared to the final three months of last year.

This is the finding of the Royal Institution of Chartered Surveyors (Rics) Oceania Commercial Property Survey, which described the country's market as "stable", noting both occupier demand and the amount of available space have remained steady.

However, investment enquiries climbed substantially during the first quarter of this year, with Rics anticipating interest in the Australian market will grow in the short to medium term.

According to the research, this is a positive sign, with the report stating: "Capital value expectations remain flat, but could begin to pick up in the coming three months if the surge in investor demand is anything to go by."

National Australia Bank's latest quarterly commercial real estate survey revealed retail is the weakest performing sector, while office property in central business districts and the hotel industry are more robust markets.

Australian office rental markets 'growing'

Wed, 14 Mar 2012 00:00:00 GMT

Two of Australia's office markets made it into the top ten in a list of the world's most expensive places to rent this type of commercial space.

Perth and Sydney both performed well in the final quarter of 2011, according to a study conducted by Knight Frank.

The firm is predicting further rental rises in Perth over the course of 2012, with the average cost of leasing real estate in the city's central business district (CBD) currently standing at £55.96 per sq ft per year.

Perth is in seventh position and this is the first time the city has climbed into the top ten of the Knight Frank survey, with the organisation commenting this is due to "strong rental growth on the back of demand generated by Western Australia's booming resources sector and the falling availability of prime space".

Sydney, meanwhile, is in tenth position, with the average price of renting an office standing at £53.45 per sq ft per annum.

Brisbane and Melbourne are the two other Australian commercial property markets to feature lower down the table, at 15th and 21st respectively.

Western Australia is one region for investors to watch, after Australian Property Investor magazine named the destination as one of the country's hotspots in 2012, AAP reported earlier this month.

Australian offices 'set to outperform other commercial assets'

Mon, 20 Feb 2012 00:00:00 GMT

The value of offices down under has been predicted to rise above other commercial property in Australia.

A survey from National Australia Bank (NAB) showed that capital city office values will grow by three per cent in the next couple of years, including a 1.6 per cent rise by December 2012, Bloomberg revealed.

Despite this boost for office properties, the report showed retail real estate values will drop by 0.5 per cent by December, while the industrial property market will be static.

Confidence in Australian business has risen recently, reaching an eight-month high last month, at the same time that consumer confidence rose as well, according to figures published by the news provider.

This comes after CB Richard Ellis (CBRE) Australia reported earlier this month that foreign investors will carry on putting money in office real estate in the nation.

It stated demand for commercial investment opportunities will continue to provide a boost to property sales.

Australian commercial property market 'broadly flat'

Fri, 10 Feb 2012 00:00:00 GMT

The commercial real estate sector in Australia stabilised in the final quarter of 2011, with capital value growth, investor demand and occupier and owner sentiment all "broadly flat".

According to the Royal Institution of Chartered Surveyors (Rics) Oceania Commercial Property Survey, vacancy rates in the nation fell and, despite tenant demand continuing to slide, it did so at "a noticeably slower pace" in the final three months of last year.

Kaye Herald, managing director of Rics Asia Pacific, commented: "The expectations for the first quarter of this year seem to suggest that this stability may result in some better results going forward."

Demand from investors for Australian commercial property remained in negative territory, although the organisation stated there are clearly fewer fluctuations on this side of the market than there have been previously.

Earlier this month, the Property Council of Australia revealed that vacancy rates in offices in the country's main central business districts fell to 7.9 per cent in the six months to January 2012, bringing them to their lowest level in three years.

Confidence in Australian property market 'broadly positive'

Mon, 16 Jan 2012 00:00:00 GMT

Confidence levels across the Australian real estate sector remain in positive territory, a new survey has revealed, although some areas are faring better than others.

This is one of the findings in the Property Council-ANZ Property Industry Confidence Survey December 2011, which noted the Northern Territory (NT) saw the greatest improvement in sentiment among real estate professionals.

A new gas deal with INPEX is expected to boost the economy in the NT, with the Property Council's division president in the state Brendan Dunn describing it as a "game changer" for the region.

However, respondents in New South Wales and Victoria - which are home to the country's largest property markets - took a more negative outlook in the final quarter of 2011 than they did in the previous three-month period.

Meanwhile, Warren Hogan, ANZ global chief economist, was optimistic about the future of the nation's commercial real estate sector.

"Tight vacancies, limited capacity expansion and attractive yields will support growing investor interest and are laying the groundwork for a marked increase in valuations as rents rise and yields compress," he stated.

Asia-Pacific office rents climb

Tue, 15 Nov 2011 00:00:00 GMT

The Asia-Pacific region is leading the pack in terms of office rental growth during the third quarter of 2011, new research shows.

A report published by Jones Lang LaSalle found that seven out of the top ten office markets were in this area, with two Australian destinations making an appearance.

Perth and Sydney both experienced increases in the amount charged for office space, recording a 10.5 per cent and 6.6 per cent rise respectively.

Melbourne and Adelaide both made it into the top 50 with marginal hikes, while in Brisbane, the market was flat and Canberra saw rents decline by 2.3 per cent.

However, this indicates that the Australian commercial property sector is performing relatively well in comparison to some of the other established office markets around the world.

Dr Jane Murray, head of research for Asia-Pacific at Jones Lang LaSalle, commented: "The picture across Asia-Pacific is diverse, reflecting varying conditions within markets [...] We expect rents to increase in most markets over the short term."

A survey released by the Royal Institution of Chartered Surveyors earlier this month revealed that many professionals are positive about rental expectations in the nation for the rest of this year, although respondents predicted that investor sentiment and tenant demand will slip by the end of 2011.

Australia's commercial property sector 'slowing'

Mon, 7 Nov 2011 00:00:00 GMT

The commercial property market in Australia is exhibiting signs of a slowdown, new data has revealed.

A survey carried out by the Royal Institution of Chartered Surveyors (Rics) covering the outlook for the Oceania region in the fourth quarter of 2011 recorded a slide in both tenant demand and investor sentiment.

However, the organisation noted that rental expectations for the final months of this year remained positive.

In its report, the institution stated that the figures "should be seen in the context of an extended period of strong economic growth and a healthy performance from the real estate sector".

Kaye Herald, managing director at Rics Asia Pacific, commented that the Oceania area is "following the global trends as economic conditions cool".

Research published by Savills at the end of October found that transaction volumes in Sydney's central business district increased markedly during the third quarter of 2011.

As a result, this is the highest number of sales recorded in the city since the second quarter of 2006.

Australian auctions maintain strength

Tue, 15 Dec 2009 00:00:00 GMT

The rate of sales success in Australian residential property auctions has continued to exceed 70 per cent, it has been revealed.

Figures from Australian Property Monitors indicated that in the week to December 12th, 71 per cent of homes made available this way were traded.

This followed levels of between 71 per cent and 73 per cent being sold over the previous four weeks.

Such a steady rate may indicate that the market is solid and stable, something that could interest those who are looking to buy in the country.

Last week's total saw 505 out of 676 lots sold, with the median price being AUD590,000 (GBP331,000).

Figures from the recent Knight Frank Global House Price Survey showed Australia has had one of the best-performing markets in recent months, with prices rising 6.2 per cent in the year to the end of October.

It also revealed a jump in values of 4.2 per cent during the third quarter of 2009.

Developer abandons wharf hotel plans

Thu, 29 Jan 2009 00:00:00 GMT

Plans for a new 60 suite hotel on Hobart's waterfront have been abandoned by the consortium Hunter Developments...

Wincrest Homes in liquidation

Thu, 29 Jan 2009 00:00:00 GMT

Building company Wincrest Homes has announced the company is going into voluntary administration...

Australian apprentices benefit from skilled migrants

Wed, 5 Nov 2008 00:00:00 GMT

An Aussie recruitment firm is sponsoring up to 100 temporary overseas workers in areas of skills shortage under the nation's 457 visa scheme...

Centro Properties hit by failed deal

Tue, 16 Sep 2008 00:00:00 GMT

The prospects of Centro Properties clawing its way back from financial ruin were dealt a blow on Monday when the heavily indebted Australian shopping mall owner said a...

Lehman Brothers takes quarterly loss of $US3.9b

Wed, 10 Sep 2008 00:00:00 GMT

US investment bank Lehman Brothers have announced an estimated loss of $US3.9 billion ($4.81 billion) in the third quarter (June-August), but did not unveil plans for an injection of fresh capital for the ailing firm...

Australian banks' historic deal

Mon, 8 Sep 2008 00:00:00 GMT

Australian bank St George agrees a takeover by Westpac Banking, the biggest banking acquisition in the country's history...

Garrett rejects Shoalwater Bay coal terminal proposal

Fri, 5 Sep 2008 00:00:00 GMT

The Federal Environment Minister Peter Garrett has rejected a proposed rail line and coal terminal at Shoalwater Bay in central Queensland...

Property developers face earnings threat

Fri, 8 Aug 2008 00:00:00 GMT

PROPERTY developers face more volatile earnings under a proposed change to accounting standards...

Britons flee to Australia

Wed, 6 Aug 2008 00:00:00 GMT

A growing number of British nationals are choosing to relocate and set up home in Australia, it has been revealed.

According to figures from The Emigration Group, the country has attracted 23,906 people from the UK in the last year.

The organisation believes this is because Australia offers both lifestyle and financial benefits, such as good weather, lower taxes and more affordable house prices.

Paul Arthur, director of the Emigration Group, added that that expats can often get paid more than they would in the UK.

Speaking to the Daily Star, he commented: "What it boils down to is you get more for your pound down under."

Mr Arthur added that the Australian government has revised its immigration policy in order to attract skilled workers from overseas.

The comments follow figures from HiFX which revealed a recent surge of interest in buying property in Australia.

According to the firm, the country was the subject of ten per cent of the enquiries it received into moving abroad in April 2008.

Public to bear Lend Lease’s £500m Olympic costs

Fri, 1 Aug 2008 00:00:00 GMT

But it is understood that the Australian developer will be able to buy back into the scheme by financing construction at a later date...

Austrian Milton Gate interest signals tentative City revival

Fri, 1 Aug 2008 00:00:00 GMT

Fund places £150m scheme under offer as German and Middle Eastern investors look at buying...

Australia’s Mining Boom and Property

Wed, 30 Jul 2008 00:00:00 GMT

The Minerals Council of Australia is now predicting that the mining sector will need another 87,000 more workers over the next decade...

Work begins on Port Botany expansion

Thu, 24 Jul 2008 00:00:00 GMT

Construction has begun on the $1 billion, 60-hectare expansion of Port Botany in south Sydney, one of the biggest infrastructure projects in Australia...

Find could spark new Victorian gold rush

Wed, 23 Jul 2008 00:00:00 GMT

Victorian scientists have identified a patch of land between Bendigo and the Murray River which they believe contains $32 billion worth of gold...

No word on Brooke St Pier plans

Fri, 11 Jul 2008 00:00:00 GMT

The business consortium behind a planned redevelopment of Hobart's Brooke Street Pier is refusing to comment on its proposal for the site...

US 'faces great challenge' as global power shifts

Fri, 11 Jul 2008 00:00:00 GMT

Wealth and innovation are bubbling up in the most unexpected places. The tallest buildings, the biggest dams, the highest grossing movies, some of the most advanced technologies: they're all being created outside of the United States. It's called "the rise of the rest", and as global power shifts, Washington will face its greatest challenge: it'll have to learn how to share power...

Business, tourism backs Hobart waterfront plans process

Thu, 10 Jul 2008 00:00:00 GMT

Tasmania's business community has backed the State Government's handling of plans to redevelop a prime piece of land on Hobart's waterfront...

Residential or Commercial - which is the right investment for you?

Mon, 7 Jul 2008 00:00:00 GMT

Would you like to get a rental return of six, seven or even 10 per cent, instead of the three or four per cent you are currently receiving? Would you like your tenant to pay all the outgoings, and perhaps even sign a three or five-year lease? As attractive as it sounds on the surface, the decision between commercial and residential investment is not as clear cut as it first appears.

Read on ...

Talk the talk on commercial rents

Mon, 7 Jul 2008 00:00:00 GMT

With 'options to renew' and 'three by three leases', it sometimes seems like commercial landlords have to speak a whole other language. But the lingo isn't really that hard to translate.

In this article, originally published in Australian Property Investor magazine, Bronwyn Davis explains how commercial lease reviews work...

The nuts and bolts of commercial loans

Mon, 7 Jul 2008 00:00:00 GMT

Financing a non-residential property venture is all about the numbers. In this article, originally published in Australian Porpetry Investor magazine, Bronwyn Davis looks at the facts and figures behind commercial lending...

Living here, working there

Mon, 7 Jul 2008 00:00:00 GMT

Thanks to technology, a growing army of workers are choosing to live away from their place of work, making the sea change well before they retire. These long-distance commuters find the shift can have more than just lifestyle benefits.

In this article, originally published in Australian Property Investor magazine, Terry Ryder explains...

Plans for big development near Hobart's historic Salamanca

Fri, 4 Jul 2008 00:00:00 GMT

A multi-million-dollar commercial and residential complex is being proposed for Battery Point in Hobart...

Virgin announces direct Brisbane-LA flights

Fri, 4 Jul 2008 00:00:00 GMT

Virgin has announced direct flights between Brisbane and Los Angeles from March next year...

Australia popular with British workers

Thu, 26 Jun 2008 00:00:00 GMT

Many workers from the UK would be willing to relocate to Australia, a new survey has revealed.

According to Manpower, the country is an attractive option for the 53 per cent of Britons who would consider working overseas.

Mark Cahill, managing director of the organisation, said some British people are keen to venture abroad as it would be a good opportunity to experience a new culture.

He added that since many foreign migrants are seeking employment in the UK, the movement of UK nationals overseas would not present a problem to employers.

Mr Cahill commented: "Today's labour market has a constant circulation of workers - out of the UK as well as into the country."

This comes after Paul Arthur of The Emigration Group revealed that Australia is proving to be very popular with skilled professionals such as doctors and architects.

Speaking to the Western Mail, he said The Australian economy is "booming", which has made it an appealing destination for those who wish to progress in their career.

Australian market demonstrates growth

Thu, 16 Aug 2007 00:00:00 GMT

The Australian real estate market is showing huge growth potential, with demand for commercial property driving investment.

This is the view of the GPT group, which believes the commercial property sector in Australia is strong enough to withstand the shockwaves resonating from the US residential property market, which are being felt across the globe.

Chief executive Nic Lyons told ABC Online the strength of the Australian economy is causing demand for commercial property to rise, which is resulting in falling vacancy rates and rising rental yields.

"The obviously recent volatility in credit markets is starting to influence investors' thinking, but hasn't yet impacted on demand for good quality real estate investment," he said.

Meanwhile Australian prime minister John Howard has expressed confidence that the country's strong economy will help it shake off any negative impacts of the US sub prime mortgage market.

"My assessment is the Australian economy remains very strong and we should be reassured about that," he told journalists.