THE CBD VACANCY rate for Sydney currently sits at 4.1%. And for Melbourne, it’s now at 3.8%.
As you would expect, overseas events have caused some hesitancy in the market. And the Sydney CBD can be rather sensitive to the global economy.
That said, recent reports show local business confidence growing – with stability appearing to return, after the recent election. [Read more…]
WHAT AN AMAZING election result … although, I had always felt it would be a lot closer than everyone thought. Now many people are now asking how the pollsters could have got it so wrong?
In actual fact, they weren’t that far out. Rather, it was more a heavy bias in media coverage which fanned the Labor fever.
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MANY OF YOU are now Members and therefore, already receive my Property Briefings podcasts each month. But if you’re not, you can simply join here or by clicking on the orange logo above — because Membership is FREE.
Anyway, I’ve been regularly receiving requests about providing access to transcripts for the various Episodes — which number more than 120 so far.
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WHERE ARE WE right now? And what actually determines the Cycles for each sector?
As it happens, most people believe every sector is quickly affected by interest rate movements. Whereas, that’s not strictly true.
And where interest rates do have an effect … the actual timing of that also varies. [Read more…]
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FURTHER EVIDENCE of an underlying strength in the Commercial property market is now provided by the latest IPD/Property Council index.
During 2013, you saw investors (both local and overseas) stride out from the shadows of the Global Financial Crisis. And as this graph confirms, every sector has displayed a healthy improvement in selling yields. [Read more…]
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COMMERCIAL PROPERTY stands to benefit from the recent improved business trading figures — which have soared to a 2-year high. And these now fall into line with the NAB Survey’s confidence levels.
As such, many forecasters believe these latest figures (together with the growth in house prices over the past 12 months) now reflect the underlying strength of Australia’s post-mining economy.
Therefore, further interest rate reductions expected by the RBA are unlikely to occur any time soon — if at all. [Read more…]
SOME PUNDITS seemed to be genuinely confused, and others even disappointed with?the RBA’s decision at its last meeting.
However, those closely studying what’s really been happening over the past 6 to 9 months were not surprised in the slightest.
Sure, a weaker Producer Price index (and a benign underlying inflation at 2.3%) certainly gave the RBA plenty of flexibility. [Read more…]
THROUGHOUT the last half of 2012, you would have seen our articles consistently predicting a turn-around in confidence, early in 2013.
And more particularly, we also explained why there would be a rebound in China’s growth — following transition to the new Administration. [Read more…]
WELL now you can — it’s just been launched.
The brand-new monthly Magazine
Commercial Property Made Easy … which you can now grab from the App Store on your iPad — by searching for the Magazine’s title in “Categories”.
Or you can click this link to install the FREE App. And you will find it should load directly into your iPad Newsstand.
(But if you’re doing this from your computer, it may take a moment to appear via iCloud.) [Read more…]
EVERY SIX MONTHS, the Property Council of Australia (PCA) conducts a nation-wide survey on the state of the Office market around the country.
The accompanying graph will give you a quick snapshot of where things currently stand.
However, even the Commercial property market has been subject to the influences of the much talked about “2-speed economy”. [Read more…]
GERRY HARVEY appeared to sum it up fairly well in a recent interview:
“It was unusual to have such a poor sentiment at a time when Australia’s economy was relatively strong compared to America and some countries in Europe.”
Harvey feels Australia has an economy regarded as strong by outsiders. And yet there is a total lack of confidence, and businesses are therefore suffering.
Overseas investors are actively targeting Australian Commercial Property — accounting for around half of all sales of over $30 million. Whereas, local investors remain hesitant. [Read more…]
