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Opportunity ripe for developers as demand for uni housing increases

Australia’s student housing sector is predicted to boom in the coming years, due to an increasing number of Australian and international university students, according to a report by Knight Frank.

Northern Territory (NT)Darwin

Featured Property

Rural Northern Territory luxury with central swimming pool

Situated on an estate of approx. 5 acres in Berry Springs, this architect-designed, single level residence is split into two wings to create the ultimate, private luxury escape. For sale via May Dunlop of Sotheby’s International Realty Darwin.

National

The Economy

Australian housing downturn gathers speed

CoreLogic's July Home Value Index results, released today, reveals national dwelling values are falling at their fastest annual rate since 2012.

Victoria (Vic.)Melbourne

Design

Melbourne needs to re-think approach to urban sprawl, architects and planners say

Architects and urban planners have gathered in Melbourne to discuss how to design more ethical cities at the Collectivity Talks – Ethical Cities panel discussion.

New South Wales (NSW)Sydney

People

Dermot Lowry joins Knight Frank as Partner, Head of Occupier Services

Knight Frank have announced the appointment of Dermot Lowry as Partner, Head of Occupier Services, Australia.

Tasmania (Tas.)Hobart

Featured Property

Industrial renovation: Hobart warehouse conversion

With over 816sqm of usable floor space, this warehouse space is waiting to convert someone’s industrial sized dreams into a residential reality. For sale by Marcus Freebody of LJ Hooker Hobart.

Northern Territory (NT)

The Economy

REINT's Quentin Kilian calls on government to address $1.2b property sales plunge in Northern Territory

Real estate sales in the Northern Territory have plummeted $1.2 billion in the three years since the height of the LNG boom, according to Real Estate Institute of Northern Territory (REINT) Chief Executive Officer, Quentin Kilian.

Queensland (Qld)

People

Ray White Commercial Queensland promotes young gun

After just four years at Ray White Commercial Queensland director Matthew Fritzsche has been promoted to partner at the leading 30 year old business.

National

Construction

New home sales tick upwards for first time this year

New home sales have increased for the first time this year, according to the Housing Industry Association (HIA) New Home Sales report.

Queensland (Qld)Sunshine Coast

Featured Property

‘Balmoral’: classic Australian homestead with European influences

Offering the ultimate in refined semi-rural living, this substantial, master-built home and acreage includes a macadamia orchard and cottage style gardens. For sale by Ann Ellison and Stuart Ellison of Zeb Realty.

Pages

News Roundup

http://www.denverpost.com/marijuana/ci_28993836/marijuana-industry-drives-denver-metro-areas-real-estate-recovery

Marijuana having a big impact on Denver commercial real estate

The state's cannabis industry occupies at least 3.7 million square feet of industrial space in Denver, clustered in areas of older warehouse stock, including the Interstate 25-Interstate 70 junction, Montbello, central Denver and along the Santa Fe Drive corridor in southwest Denver, according to commercial real estate firm CBRE.

The Denver Post

http://www.smh.com.au/business/markets/house-price-growth-set-to-record-slowest-pace-in-four-years-20151018-gkc93c.html

House price growth set to record slowest pace in four years

House price growth is set to ease to its slowest pace since 2012, according to a report on Monday by property specialist SQM Research, with Sydney cooling quickly and rental markets across the country squeezed by deflationary pressures and the end of the mining boom.

Sydney Morning Herald

http://www.theaustralian.com.au/subscribe/news/1/index.html?sourceCode=TAWEB_WRE170_a_GGL&mode=premium&dest=http%3A//www.theaustralian.com.au/business/property/virgin-chief-john-borghetti-says-sydney-airport-needs-hotels/story-fn9656lz-1227574765702&memtype=anonymous

Virgin chief John Borghetti says Sydney airport needs hotels

Virgin Australia chief executive John Borghetti has called for more diversity in the accommodation offerings at Sydney airport as its publicly listed owner considers developing up to five extra hotels within the busy precinct.

The Australian

http://www.dailytelegraph.com.au/newslocal/south-west/australian-turf-club-confirms-plans-to-redevelop-parcel-of-land-at-canterbury-park-racecourse-but-racing-to-continue/story-fngr8hxh-1227574314598

Australian Turf Club confirms plans to redevelop parcel of land at Canterbury Park Racecourse

The Australian Turf Club is considering selling a large parcel of land across the road from Canterbury Park Racecourse. The racetrack has been flagged as a “significant opportunity” for redevelopment by the State Government in its new vision for revitalising southwest Sydney. Plans to sell some of the prized land puts a question mark over the whole track, which could be sold for up to $500 million.

The Daily Telegraph

http://www.bizjournals.com/dayton/blog/morning_call/2015/10/u-s-mortgage-rates-up-but-still-beneath-4-percent.html

U.S. mortgage rates up, but still beneath 4 percent

U.S. mortgage rates saw an uptick in past week, yet remain under 4 percent, according to Freddie Mac. The average 30-year fixed mortgage averaged 3.82 percent for the week ending Oct. 8, up from 3.76 percent the previous week.

Dayton Business Journal

http://www.theguardian.com/australia-news/2015/oct/18/real-estate-jitters-hit-auctions-as-sydney-and-melbourne-show-signs-of-cooling

Real estate jitters hit auctions as Sydney and Melbourne show signs of cooling

The Sydney and Melbourne property markets are showing signs of cooling off, with auction clearance rates dropping over the past week. Auction clearance rates in Sydney fell to 65.1% over the past week, the lowest in three years, with 530 out of 874 listed properties selling. Clearance rates in Melbourne were 73%, with 957 sales out of 1,233 listed properties.

The Guardian

http://www.theaustralian.com.au/business/property/schools-the-key-to-lure-chinese-buyers/story-fniz9vg9-1227573477627

'Schools the key' to lure Chinese buyers

As the flow of Chinese capital into Australian real estate starts to slow, property agents are starting to reap rich rewards by adding private schooling to the packages they offer. Li Ming, co-director of Aussiehome Real Estate based in Melbourne, said education was a priority with most Chinese property buyers in Australia.

The Australian

http://www.afr.com/real-estate/housing-starts-to-peak-in-early-2016-property-council-says-20151015-gka4yp

Home-building to peak in early 2016, Property Council says

The housing construction boom hasn't yet run out of steam and completions of new homes are likely to peak early next year, before following the approvals rate lower, the Property Council of Australia says. Completions, which jumped 19 per cent to 189,239 in the year to June as new housing starts also rose to a record, will keep rising in the short term, the lobby group predicts in its latest Residential Development Outlook.

The Australian Financial Review