Vol 11. No.10
Friday 15 January 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
93.03 |
+0.77 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.23 |
+0.01 |
|
| 10 Year Bond |
5.595 |
+0.070 |
|
| ASX 200 |
4898.0 |
+29.9 |
|
Queensland Property
South East Queensland housing update (AFR Pg.49)
- According to Queensland’s Department of Natural Resources and Water, average house prices in Brisbane increased by 9.5% to $560,000 in the 6 months to December 2009.
- Gold Coast average house prices rose 7.6% to $575,739 based on the 2,029 sales.
- Despite the increase in median prices the sales volumes remained at 30 year lows.
National Property
Australian investor activity (AFR Pg.49)
- November figures from the Australian Bureau of Statistics show approved finance to investors increased by 6.6% to $5.3 billion nationally.
- This is the second highest monthly figure since November 2007, however, it is 30% below the peak of $7.1 billion in June 2007.
- Investor finance approval figures for November show Tasmania (13.1%) and NSW increased above the national average of 11.1%.
- Victoria (4.3%) and Queensland (3.2%) figures were below the national average. The Northern Territory (-9.51%) was the only state/territory recording a decline .
Hotel update (AFR Pg.48)
- Sources are predicting hotel sales to increase in 2010 as investors believe the market has reached the bottom and hotel operating conditions have improved.
- Activity in the second half of 2009 totalled $872 million, well above the $80 million that exchanged hands in the first half of the year.
- A further $300 million of property is under due diligence.
- According to a recently conducted survey, industry professionals believe the hotel market has declined by 11% - 20% since the peak in 2007.
- Sydney and Brisbane are expected to be growth areas with uncertainty expressed over the Melbourne and Gold Coast markets.
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.