Chatswood sale has agents saying ‘WTF just happened?’

Peter Chauncy from McGrath has been left stunned (Ed: and no doubt created some very happy vendors) when on the fall of the hammer the conservation zoned single level residence in Blakesley Street Chatswood sold for $2.2 million on Saturday. Expectations had been around $1.35 million but in bidding increments as high as $60,000 these were smashed. Highest street price had been suggested just shy of $1.5 million previously. Sydney’s weekend preliminary clearance rate has been recorded by APM at 57%. More…

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Apple stores get preference. Android stores, well…

Major retail incentives are in the offering for an Apple store to open in a Salt Lake City mall. News reports in the US reveal, “What is the big incentive? According to ABC’s sources, City Creek has offered a “major concession package” that is thought to include five years free rent.” Questions as to when an ‘Android’ type store can qualify for similar discount remain unanswered. More…

CBRE thinks so…

The most recent OECD economic outlook report, released last night in Paris, has shown Australia’s projected economic growth close to the top three during 2012, behind only South Korea, Mexico and Chile. Long term projections to 2050 give Australia the highest growth rate in the developed world after Chile and Mexico. The report has underlined the high dollar, consumer confidence and jobs continue to drag on property prices (ED: as at posting the Aussie $ had dipped below 98c US.). Of note were projections to 2050 giving Australia the highest growth rate in the developed world after Chile and Mexico. So overall Australian’s should have reason to shake off the pessimism, eventually. Certainly CBRE see sunshine on the horizon. After taking a long hard look at the last twelve months sales data the team at CBRE have no doubt seen the opportunity to take a more aggressive approach in direct real estate investment market. No doubt other majors are attempting to position themselves, some more effectively than others… More…

Sydney Simmers

Affirmation from preliminary indicators on last weeks report for Sydney auction results with clearance rates confirmed as the best for 2012, so far…. APM indicates a clearance rate of 61.8% (Ed. not bad in any market). Price growth seems to be teetering and the onset of winter will be challenging for some. Here’s to seeing the result spread nationally to validate a turning point for all. More…

Winter is coming, momentum counts…

Positive signals across the board supporting our more recent posts on market activity in Sydney and Melbourne. Over the weekend Sydney recorded a 61.8% clearance rate from 359 properties whilst Melbourne recorded a clearance rate of 63% out of 591. More…

Housing finance surprise, don’t tell…

Today’s ABS housing finance data for March showed a surprising seasonally adjusted 0.3 per cent rise, running contrary to the touted fall of 2.0 per cent by many analysts. So, what’s the story? A deeper analysis indicates a swing to locking in rates at their current level in anticipation of forthcoming rises. Some have been keen to delve deeper into the state by state data (clearly showing a surge in WA), cutting through the spin we relate the weekends’ Sydney and Melbourne activity with a possibly a deeper current. Call us optimistic, but, could the tide be on the turn? More…

Woop, there it is.

Don’t look now but this weekends auction results could be surprising. Traditionally cooler weather spells subdued results but our on-the-ground sources (thanks to the Harcourt Hills boys) as well as preliminary Melbourne results say something. A sustained surge? We wait to see. More…

Ed: Shout out to Ant-eater high-five.