Wednesday, 21st November 2018

National

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.

Victoria

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.