Vol 11. No.169
Monday 06 September 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
91.65 |
+0.85 |
 |
| Cash Rate |
4.50 |
Steady |
 |
| 90 Day Bill |
4.74 |
+0.02 |
|
| 10 Year Bond |
4.845 |
+0.027 |
|
| ASX 200 |
4541.2 |
+8.5 |
|
NSW Property
Sydney lease transactions (SMH Weekend Business 4-5/9 Pg.20)
-
A retail site at shop 1, 418A Elizabeth Street, Surry Hills has been leased for 5 + 5 years at $1,815/m².
-
A 63m² office at 83 Mount Street, North Sydney has been leased for 3 years at $460/m² gross.
-
A 322m² floor at level 1, 285 George Street, Sydney has been leased for 4 years at $420/m².
-
A 448m² whole floor office suite at level 6, 33 Chandos Street, St Leonards has been leased for 5 + 5 years at $380/m² gross.
National Property
Auction clearance rates (AFR Pg.5)
-
Sydney’s weekend auction clearance rate was 63% whilst Brisbane’s was 50%.
-
Depending on the source Melbourne’s weekend auction clearance rate ranges from 66% to 72%.
-
The highest sale price achieved was $2.63 million for a 5 bedroom Victorian house at 97 Graham Street, Albert Park.
LPT industrial market update (AFR Pg.56)
-
Effective rents for Australian listed property trusts’ industrial portfolios are forecast to increase by 2% in 2010/11, following a 1.5% decline in 2009/10. In 2011/12 and 2012/13 rents are expected to rise by 3% and 3.25% respectively.
-
Capitalisation rates for industrial assets are stable and values are forecast to grow.
Industrial forecasts (AFR Pg.57)
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Melbourne’s industrial market is expected to record total returns of 16% per annum over the next 4 years.
-
The prime Melbourne industrial market is forecast to deliver a 5% year-on-year rental growth whilst Perth is anticipated to record rental growth of 2.5%.
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Sydney, Brisbane and Perth’s industrial markets should see total returns of 12% per annum.
Retail market update (AFR Pg.56)
-
During 2009 Australian retail portfolios average positive net operating income (NOI) growth was approximately 4%.
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Retail conditions are forecast to continue to improve over the next 12 to 18 months as vacancy rates are low and tenant arrears are negligible.
-
Regional shopping centre operating income growth will continue to slow this year, albeit off a year where there was a government stimulus package to assist retailers.
-
NOI is expected to grow by 2.8% in major centres in 2010/11 and 3% in 2011/12.
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
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