Vol 11. No.18
Thursday 28 January 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
90.05 |
-0.54 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.31 |
+0.06 |
 |
| 10 Year Bond |
5.400 |
-0.070 |
|
| ASX 200 |
4644.6 |
-73.3 |
|
Queensland Property
Hope Island mortgagee sale (AFR Pg.48)
- Westpac as mortgagee has stepped in to sell 25 luxury units in stage one of Harbour Side at Sickle Avenue, Hope Island.
Victoria Property
Swanston Street revitalisation (AFR Pg.48)
- Swanston Street in Melbourne may receive a $25.6 million makeover including the banning of private cars and taxis, the installation of dedicated bike lanes and the creation of 4 ‘civic squares’ at platform tram stops.
- Town Hall will consider the project next week.
National Property
National residential property update (AFR Pg.12)
- The national median house price increased by 4.8% over the December quarter or 12.1% over the year to reach a new 5 year high of $525,524. The rise in house prices is attributed to the increasing number of sales over $500,000.
- The national median unit price increased by 2.0% over the December quarter or 9.8% over the year to $405,795.
- Sydney's median house price rose 5.3% over the quarter or 12.1% over the year to $595,745. The median unit price rose 2% over the quarter or 9.8% over the year to $405,795.
- The highest annual house growth (18.5%) was recorded in Melbourne, pushing the median house price above $500,000 for the first time. The median unit price rose 11.5% over the year to $375,663.
- Darwin overtook Sydney as the most expensive unit market with an average annual increase of 22.8% in 2009 and an average growth of 18% over the past 5 years.
- Industry professionals forecast continued growth for 2010 but at a much slower rate than 2009.
Industrial property update (AFR Pg.49)
- Nationally industrial sales in the December quarter totalled $276 million, well below the September quarter in which $415 million worth of property exchanged hands.
- The highest price achieved was $64 million when Growthpoint Properties Australia acquired a Coles distribution centre in Goulburn, NSW.
- Since the commencement of the financial crisis only 2 REITs have purchased industrial property - Dexus Property Group and Growthpoint.
Sources: As above
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