Vol 11. No.7
Tuesday 12 January 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
93.11 |
+1.77 |
 |
| Cash Rate |
3.75 |
Steady |
 |
| 90 Day Bill |
4.18 |
+0.02 |
|
| 10 Year Bond |
5.685 |
+0.005 |
|
| ASX 200 |
4950.7 |
+38.6 |
|
NSW Property
Goulburn distribution centre sale (AFR Pg.40)
- In late December Australand Property Group sold a Coles regional distribution centre at Goulburn for $64 million on an initial yield of 9.93%.
Victoria Property
Stockland’s Wollert purchase (AFR Pg.40)
- Stockland has purchased 62 ha in Wollert in Melbourne’s northern fringe for $32 million ($516,129/ha).
- The residential site has building permits, is within the urban growth boundary and could support up to 600 homes.
- The sale was completed in December 2009 and comes on the back of Stockland acquiring 124 ha in Truganina, west of Melbourne.
National Property
Industrial property update (AFR Pg.40)
- Industry sources suggest the industrial property market hit rock bottom in 2009 with the best investment stock yielding 9% and average rents in Sydney falling 9% over the past 12 months.
- The weighted average national yield for A-grade warehouses has increased 42 basis points this year to 8.84%, indicative of a drop in capital values of 9.5%.
Sources: As above
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