Wednesday, 21st November 2018
Unwelcoming Auction Clearance Rates Remain in Australia’s Largest Cities
Australian auction clearance rates have continued their downward fall for another batch of property. According to data from CoreLogic, only 45.5% of reported results last week cleared across Australia’s capital cities, a downturn from the previous week’s 46.8% estimate.
New South Wales
Rockdale Site Sells for $22 million (AFR)
A private buyer has purchased the site at 395 West Botany Street, Rockdale 2216 for $22 million from Australian Unity. Buyers were attracted to the long weighted average lease expiry of 6.46 years.
Chinese-backed Developer has Positive Pre-sale for Development Project (AFR)
Chinese-backed developer Poly Australia has sold 40 apartments over the weekend at its 100-unit project “Summit” in Doncaster, located in Melbourne’s east. The project is reported to cost $93 million and can yield 100 one-to three-bedroom apartments, penthouses and townhouses.