Vol 11. No.39
Friday 26 February 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
88.78 |
-0.54 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.18 |
+0.01 |
 |
| 10 Year Bond |
5.480 |
-0.065 |
|
| ASX 200 |
4594.1 |
-54.4 |
|
NSW Property
NSW property update (AFR Pg.5)
- In December and January the NSW government recorded a 58.6% increase in stamp duty revenue to $501.3 million compared to the same period last year.
- The increase is attributed to the number of sales above $800,000.
- Property transactions increased by 16% to 3,762.
- The majority of sales occurred in Liverpool, Wagga Wagga, Westmead, Wyong and Port Macquarie.
- In NSW the average home loan is approximately $403,000, in comparison to Victoria ($324,000) and Queensland ($332,000).
Stamford Plaza, Double Bay update (AFR Pg.52)
- Ashington has withdrawn their appeal against the NSW Minister for Planning over the dismissal of the development plans for the former Stamford Plaza Hotel site in Sydney’s Double Bay.
- Last year, former Planning Minister Kristina Keneally dismissed the development.
Harold Park raceway update (AFR Pg.3)
- The Harold Park raceway in Sydney’s inner west which is currently zoned open space may be developed into a new suburb under a draft plan released by the City of Sydney Council.
- Under the draft plan the site will comprise up to 1,000 dwellings for approximately 1,900 people with buildings ranging from 2 to 8 storeys in height.
- The historic tram depot located at the northern end of the site would be retained and transformed for retail, commercial and community use.
- About 25% of the site would be open space.
- The draft proposal has not yet been endorsed by council.
Queensland Property
Noosa development site for sale (Pg.52)
- The 27 ha Elysium Noosa development site is being offered for sale for $400 million.
Sources: As above
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