Vol 13. No.92

Wednesday 23 May 2012

Economic Overview


 Current +/- Movement
$AUS/$US 99.18 +0.83
Cash Rate 3.75 Steady   
90 Day Bill 3.49 -0.02
10 Year Bond 3.220 +0.050
ASX 200 4121.0 +47.4

New South Wales

Miller Street Office Tower Listed (AFR Pg.51)
  • Abacus Property Group have listed a 10,358m² B grade commercial tower spanning 10 levels at 50 Miller Street, North Sydney for sale after acquiring the property from Stockland in 2004 for $36.25 million.
  • Price expectations for the tower which comprises parking for 76 vehicles and space for 6 retail tenancies are above $60 million.
Sydney CBD Apartment Market Update (AFR Pg.52)
  • Research indicates sales of new apartments in the Sydney CBD has increased by 89% in the past 12 months.
  • 4,779 apartments are expected to be added to the supply with potential release for the next 12 to 18 months.
  • The median price of apartments north of Market Street is currently $820,000 after declining 25% between the third and fourth quarters of 2011.

Queensland

Brisbane Apartment Market Update (AFR Pg.52)
  • Research indicates $208 million worth of new apartments across 47 projects in Brisbane sold in the first quarter of 2012, the strongest first quarter for new apartment sales in 9 years.

Sources: As above
Disclaimer: All representations and information contained herein are made in good faith. The Information in this report contains material from other sources. Landsburys Property Pty Ltd has not checked those sources and accepts no responsibility for the accuracy for that information. The information contained in this communication is strictly confidential and intended solely for the use of the recipient/s. If you are not the intended recipient of this information, please delete and notify Landsburys Property Pty Ltd. Intended recipients should not copy or distribute this material without the authority of Landsburys Property Pty Ltd.

Previous Daily Wrap's

 

Research & Advisory

  • Market Demand Studies
  • Highest & Best Use Studies
  • Development Feasibilities
  • Tender Support
  • Product Analysis
  • Distressed Property Evaluations
  • Valuation Evidence Packs
  • Demographic Studies

Valuations

  • First Mortgage Valuations
  • GST Valuations
  • Unit Entitlements
  • Acquisitions
  • Land Tax & Rating
  • Evidence of Value
  • Internal Reporting
  • Stamp Duty