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  • Patrick Ewing

Monday, 17th July 2017


New South Wales

Sydney Rental Vacancies Rise (AFR Pg. 32)

  • Inner Sydney’s rental vacancies rose in May to their highest level in 2 years (2.2% from 1.9%).

  • Total vacancy across greater Sydney held constant at 1.8%, vacancy tightened in middle-band suburbs (1.4% from 1.6%) and also in outer-band suburbs (1.7% from 1.8%).

Sydney Office Building Sold (The Australian)

  • Fortius Funds Management has acquired an office tower at 59 Goulburn Street, Sydney from Singaporean developer Roxy-Pacific Holdings for $158 million.

  • The 23-level office tower sits opposite the World Square precinct and carries approval for redevelopment into a 38-storey tower.

Armidale Cattle Station Sold (AFR Pg.33)

  • The Marengo Pastoral Company has acquired a 2216 Ha grazing property “Achill West” in Armidale from Sydney-based fund manager Iain Gray for $8.5 million ($3,836/Ha).

Victoria

Western Victoria Rural Properties Sold (AFR Pg.33)

  • Rifa Salutary has acquired two properties totalling 4500 Ha’s in Southern Mallee, Western Victoria for $9 million ($2,000/Ha).

  • They are the 14th and 15th properties acquired by the group in the past 2 years.

Rural Properties Trump Residential Price Growth (AFR pg.34)

  • According to the Valuer-General’s report, Victorian rural property prices grew faster than Melbourne houses and apartments in 2016, rising 7.4%, 5.8% and 1.4% respectively.

  • Victorian farm prices also outperformed commercial and industrial property, registering an average gain of 5.3% in Melbourne and 4.5% across the state.

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