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Vol 11. No.11

Economic Overview

	Current	+/-	Movement
$AUS/$US	92.27	-0.50
Cash Rate	3.75	Steady
90 Day Bill	4.22	-0.01
10 Year Bond	5.585	-0.010
ASX 200	4899.0	+1.6

NSW Property

Sydney residential vacancy rate update (SMH 16-17/1 Pg.6)

• In November the gap in residential vacancy rates in different Sydney suburbs widened to more than 10%. However, the city-wide vacancy rate is 1.6%.
• Gordon and Pymble have vacancy rates of 7.5% and 7% respectively.
• In contrast Hinchinbrook has Sydney’s tightest rental market with 0.2% of the dwellings vacant.
• Industry professionals suggest rents in tighter marketplaces could rise 2% to 5% in 2010.
• Local agents in Fairfield witnessed an increase in rents by 10% in 2009.

Queensland Property

Queensland public housing update (AFR Pg.7)

• According to Queensland Housing Minister Karen Struthers more than 3,000 homes will be built in 2010 to accommodate the state’s public housing needs.
• Under the nation-building plan 4,000 public houses accommodating more than 6,200 residents will be constructed by 2012.
• The plan is expected to create 13,000 jobs and inject $1.1 billion from the federal government into the state’s economy until June 2012.
• The new dwellings will be located in Brisbane (1,100), central Queensland (430), far north Queensland (260), north coast (675), north Queensland (413), south coast (580), south west (380) and a further 150 dwellings are yet to be assigned.