Market Tit Bits January 2007 RETURN
Our launch for the $50 million Northpoint Business Centre in North Melbourne, was a runaway success with 15 office suites sold. Only 7 offices remain in stage one and are available @ only $229,000 each. Attractive purchaser incentives remain for a limited time only.
Commercial sales of $110 million for the month of November was a year high. - Standard & Poors research showed arrears in prime mortgages fell in November.
Housing affordability continues to be at its lowest for 25 years.
ANZ announced its new 80,000m2 headquarters will be relocated to the Docklands, another boon to our area.
Low doc loans continue to be a risk area. People who do not qualify for traditional loans are as expected increasing their arrears.
Victoria is often averaging more than 50% of commercial sales nationally when sold by auction. Melbourne’s market continues to be the healthiest in the country.
Our firm dominated the North Melbourne market in 2006, selling 24 properties in the last 11 weeks.
Private investors still own the largest share of CBD property at 30.3%. The Property Council of Australia found that whilst listed property trusts dominate nationally the tightly held Melbourne market is a different story.
Melbourne CBD office market recorded a prime rental growth of 9% last year according to the Westpac property report and vacancy is tipped to fall below 4% this year, this is a national trend. It’s all go for this sector!
Kensington continues its gentrification with 30.8% of its residences earning over $1,500 per week against the Melbourne average of 21.8%. This leads to rising values.
$657m in industrial sales for 05/06 was 40% up on 04/05. A staggering increase, Melbourne property is on the move in nearly all sectors barring outer residential.
Our launch for the $50 million Northpoint Business Centre in North Melbourne, was a runaway success with 15 office suites sold. Only 7 offices remain in stage one and are available @ only $229,000 each. Attractive purchaser incentives remain for a limited time only.
Commercial sales of $110 million for the month of November was a year high. - Standard & Poors research showed arrears in prime mortgages fell in November.
Housing affordability continues to be at its lowest for 25 years.
ANZ announced its new 80,000m2 headquarters will be relocated to the Docklands, another boon to our area.
Low doc loans continue to be a risk area. People who do not qualify for traditional loans are as expected increasing their arrears.
Victoria is often averaging more than 50% of commercial sales nationally when sold by auction. Melbourne’s market continues to be the healthiest in the country.
Our firm dominated the North Melbourne market in 2006, selling 24 properties in the last 11 weeks.
Private investors still own the largest share of CBD property at 30.3%. The Property Council of Australia found that whilst listed property trusts dominate nationally the tightly held Melbourne market is a different story.
Melbourne CBD office market recorded a prime rental growth of 9% last year according to the Westpac property report and vacancy is tipped to fall below 4% this year, this is a national trend. It’s all go for this sector!
Kensington continues its gentrification with 30.8% of its residences earning over $1,500 per week against the Melbourne average of 21.8%. This leads to rising values.
$657m in industrial sales for 05/06 was 40% up on 04/05. A staggering increase, Melbourne property is on the move in nearly all sectors barring outer residential.