Monday, 24 October 2016
New South Wales
Sydney Auction Clearance Rates (www.domain.com.au)
Sydney recorded an auction clearance rate of 84% over the weekend with 628 properties listed.
Melbourne Auction Clearance Rates (www.domain.com.au)
Melbourne recorded an auction clearance rate of 84% over the weekend with 1,201 properties listed.
Surfers Paradise Development Site Sold (www.afr.com)
Meriton has acquired a 4,000m² residential development site on The Esplanade, Surfers Paradise for an undisclosed sum.
Strathpine Large Format Retail Centre Sold (www.mmj.com.au)
A foreign investor has acquired the large format retail centre at 130-134 Gympie Road, Strathpine for $14.8 million ($3,170/m² of GLA), reflecting a yield of 6.1%.
The property comprises a Gross Lettable Area of 4,670m² across two buildings and occupies a 1.17ha site area.
The property is leased to four tenancies with a WALE of 5.9 years.
Cranes in Sky Indicator (www.afr.com)
Industry research indicates Melbourne has recorded a decrease in Cranes in Sky from 148 to 128 over the last six months while Brisbane has decreased from 104 to 95.
In Sydney, the number of cranes overall increased to over 300 with residential cranes in sky increasing from 239 to 258.