Debt binge: now is a good time to learn from our mistakes Sep 6, 2008
Household debt has grown from just under 50 per cent of disposable income in 1990 to more than 150 per cent. In its latest Housing Affordability Report, the Real Estate Institute of Australia found the proportion of family income required to meet average home loan repayments rose to 39. 8 per cent in the June quarter, the highest level recorded in the 22 years the institute has been recording this data. (Sydney Morning Herald -- Business)
Three killed in blaze Aug 19, 2008
It doesn't take much to realise the world has something of an obsession with real estate. It was business as usual for pop queen Madonna after a late night celebrating her 50th birthday. (Sydney Morning Herald)
Renters cop $178 weekly increase Aug 2, 2008
The results have surprised local real estate agents, who say many people have never even heard of the suburb. Coronis Realty property manager Michele McLennan said Upper Kedron was a fairly anonymous suburb consisting mainly of new housing developments. (Sydney Morning Herald -- Business)
Can't get estate agents' attention? Here's why Jun 27, 2008
" Real Estate Australia (REA), which operates the website, admitted the glitch chief delayed 16.6 per cent of all email leads. "During the (upgrade) there was a bug which meant that some e-mails, not all by any stretch of the imagination, were being stored but not delivered to agents," chief executive Simon Baker said. "When we identified the issue, we immediately sent (the e-mails) on to the agents. " It wasn't just metropolitan agencies affected, with PRDnationwide Childers principal Denise... (Sydney Morning Herald)
Surf boss defends $1m 'Billabong bridge' Jun 22, 2008
" Ms Meade, who works at a Tugun real estate agency, said neighbours of Mr Merchant were not bothered by the bridge. "Neighbours walk up there to admire the view. " Source: The Sun-Herald SPONSORED LINKS 1214073013357-brisbanetimes.com.auhttp://brisbanetimes.com.au/news/queensland/surf-boss-defends-1m-billabong-bridge/2008/06/22/1214073013357.htmlbrisbanetimes.com.auThe Sun-Herald2008-06-22Surf boss defends $1m 'Billabong bridge'Marissa... (Sydney Morning Herald)
Rents 'to rise $45 a week' Jun 12, 2008
Dan Molloy, managing director of the Real Estate Institute of Queensland, said tenants in high-end units will pay the highest price following the rates increases handed down in yesterday's Brisbane City Council budget. "The unexpected rates impost targeted at some sectors of the unit, apartment and townhouse market may exert further pressure on investors who, like owner-occupiers, are struggling under the burden of higher interest rates. "With vacancy rates at historical lows and tenant demand... (Sydney Morning Herald)
QLD property sales plunge 28% Jun 8, 2008
New figures from the Real Estate Institute of Queensland show the state's residential property market has softened after last year's very strong demand and price growth. The REIQ house price data for the first three months of the year showed sales were down about 28 per cent compared with the same time last year. (Sydney Morning Herald)
Three times lucky for Charlie? Jun 1, 2008
The 42-year-old actor and Mueller, a real estate investor, have been engaged since last summer. "She's just easy, and loving, and smart, and if everybody was just as happy to see me when I walk through a door as her, my life would be perfect," he said soon after the couple got engaged. (The Age, Australia)
Patchwork inefficient: business May 30, 2008
An employer group has warned that efforts by state governments to retain power over workplace laws could make the new national industrial relations system unstable. The Federal Government wants a national system to replace the current patchwork of state laws. (Sydney Morning Herald -- Business)
Man steals $24,000 to pay for wife's BMW May 28, 2008
Kentinge spoke to a real estate agent about selling his home several months before committing the first fraud, but did not put it on the market. He had also made no attempt to sell the two vehicles that were the cause of the financial difficulty, she said. (Sydney Morning Herald)
Where to now for the millionaires' factory? May 24, 2008
And so with profits from two previously dependable areas, real estate and mortgage securitisation, falling through the floor because of the liquidity crisis (in the case of the former, an actual and almost unheard of loss), other sectors were tapped to fill the gap. Macquarie's previous practice of milking performance and base fees from its managed funds and unlisted offshoots made a strong comeback, while the result was bolstered by a much-lower tax charge and a flurry of asset sales that were... (Sydney Morning Herald -- Business)
Retirees up north feel Sydney's mortgage pain May 12, 2008
In a part of the report submitted by directors, they noted that doubtful debts had grown, but that the majority of impaired loans would remain on the company's loan book until an anticipated rise in real estate values. All up, the company made a $4. (Sydney Morning Herald -- Business)
Are we there yet? May 11, 2008
The regional director of the real estate agent CBRE, Kevin Stanley, says the issue of the credit crisis is yet to hit the business of renting out commercial real estate in any meaningful way. "We see those two overlapping in a very small area at the moment," he says. (Sydney Morning Herald -- Business)
Deal allows Centro to come up for air May 8, 2008
A statement from Centro's chief executive, Glenn Rufrano, said: "The facilities are comprised of the following: $2.3 billion in aggregate owed to the Australian lending group; and $US450 million [$478 million] owed to US private placement noteholders. "In connection with these arrangements, Centro and certain of its wholly owned subsidiaries have provided security by way of fixed and floating charges and some US real estate mortgages to the Australian financiers, US private placement noteholders... (Sydney Morning Herald -- Business)
Happy Dragon has little to smile about May 6, 2008
Last week, in her very first outing for Westpac, she pronounced an end to the banking gold rush that has been fuelled by a real estate boom, a resources bonanza, record low unemployment and cheap credit ... And given its history - it was a southern Sydney-based building society that merged with Advance Bank - St George is likely to suffer the most from any downturn in NSW real estate. (Sydney Morning Herald -- Business)
Allco, the giant that eats itself May 6, 2008
That move came on top of further bad news for Allco itself when its Rubicon real estate fund in the US disclosed yesterday that one of its lenders, Credit Suisse, had asked it to repay $US17 ... Yesterday's revelations showed that Allco Hit made a two-year loan of the $45 million to an API company called APT (Overseas Holdings No 2) Pty Ltd. The loan was said by Allco HIT to be "indirectly secured" by various assets including aircraft, ships, wind farms, rail and real estate. (Sydney Morning Herald -- Business)
Coast rents top Sydney Apr 7, 2008
"Rising mortgage rates would continue to create disincentives for renters to move into home ownership, said Michael McNamara, Australian Property Monitors general manager.He said rental supply was critical around the country."The Real Estate Institute of NSW recorded a rental vacancy rate under 1 per (0. 9 per cent) for the first time in recorded history for the month of February," he said. "The available amount of rental stock is very low. (Gold Coast News)
Murdoch interest in Newsday Apr 3, 2008
Jared Kushner, 27, a principal in the Kushner Co real estate empire of his father Charles, has reportedly joined the line-up that includes: Mr Murdoch; the owner of the New York Daily News, Mort Zuckerman; and Cablevision Systems Corporation. Mr Kushner was a New York University student pursuing a law degree when he bought the Observer two years ago. (Sydney Morning Herald -- Business)
Do you know what you're paying for? Apr 1, 2008
One-third of new real estate in Queensland is purchased by investors who sign a sale contract before physically inspecting the property, according to one Brisbane analyst ... "Electronic media allows developers and real estate agents to display property much better than they have in the past and some investors might think this negates the need to inspect," he said. (Sydney Morning Herald)
Farmer finds mystery space junk Mar 29, 2008
Secondary Navigation. Fri Mar 28, 10:58 AM ET. (Yahoo News)
JPMorgan reconsiders tower plan Mar 23, 2008
2 per cent for downtown, said a commercial real estate broker, Cushman & Wakefield. The national office vacancy rate was 9. (Sydney Morning Herald -- Business)
Easygoing Eagleby tops Noosa Mar 22, 2008
According to the Real Estate Institute of Queensland, Eagleby's property values have skyrocketed by 89 per cent, compared with Noosa's 48 per cent.. The median price unit in Eagleby has risen from $138,000 to $260,000, while in Noosa the prices have gone from $430,000 to $640,000. (Gold Coast News)
Queensland's top performing suburbs revealed Mar 21, 2008
The Real Estate Institute of Queensland (REIQ) has published a report detailing the top performing suburbs across Queensland with Brisbane, Ipswich, the Sunshine Coast and remote areas close to mine sites topping the list. Top performer in the state for houses was the Brookfield golf community where the median house price rose by 62. (Sydney Morning Herald)
Hustle & Flow Mar 20, 2008
"People come to the airport expecting to stand in line," says Ed White, Alaska's VP of corporate real estate, who ran the project. "It's an indictment of our industry.". (FastCompany)
Breathing space for Rubicon's European trust Mar 17, 2008
THE European arm of the Allco Finance Group-managed Rubicon real estate business is close to a deal allowing it to stagger repayment of $400 million in short-term loans and give it extra time to sell assets to fund a debt reduction plan ... 8 million write-down of a real estate loan package whose value was cut to 244 ... Gordon Fell, the executive chairman of Allco's real estate division, told the Herald he was confident that RET would shortly be able to announce a deal with Credit Suisse along... (Sydney Morning Herald -- Business)
Rising rates batter Brisbane property prospects Mar 10, 2008
The Real Estate Institute of Queensland this week predicted the market would be more subdued than previous years, despite a strong local economy and continued population growth. . (Brisbane Times)
Rescue effort props up Allco Mar 5, 2008
Allco continues to hold talks with its bankers about its survival, with rhetoric from within the company moving to include the possibility of sales of its supposedly core assets in its aviation, rail and real estate businesses. The banks are still working on a base business case for refinancing Allco that does not include such sales, but it is understood Mr Coe sees the sales as potentially releasing Allco from its debt burdens more quickly. (Sydney Morning Herald -- Business)
Fears property has hit peak Feb 27, 2008
Nervous property investors are selling up over fears Brisbane's real estate market will deteriorate later this year, a local analyst believes. Research released by RP Data last week showed the number of new listings in Brisbane had risen dramatically by 62 per cent - an addition of 1862 new properties for sale. (Sydney Morning Herald)
Room for just 50,000 new homes Feb 23, 2008
"The study says to developers and the real estate market the full house sign is not yet up in Brisbane, but we need to do careful planning to keep on developing land in the future.'' Meanwhile, the Property Council of Australia has urged the government to consult industry groups before introducing legislation to parliament next week changing land valuation methods. The government will amend the Valuation of Land Act to clarify the definition of "unimproved value. Property Council executive... (Sydney Morning Herald)
Coca-Cola's departure to add life to the Quay Feb 16, 2008
Under the plan, Coca-Cola will relocate to the $250 million The Ark office development in North Sydney, owned by Morgan Stanley Real Estate, formerly Investa. Coke's new headquarters will occupy more than 7000 square metres across the top three levels at The Ark, at 40 Mount Street, North Sydney, on a 10-year lease to Investa Commercial Developments. (Sydney Morning Herald -- Business)
Suburbs to watch Feb 14, 2008
As one of the city's most affordable suburbs, Keperra offers a good opportunity to enter the real estate market in a location within 10km of the CBD.. This leafy suburb is well-serviced by rail and bus networks and offers a range of local walking tracks and other amenities. (Sydney Morning Herald)
New property hot spots revealed Feb 14, 2008
A leading property analyst has released his list of the Brisbane suburbs to watch this year when it comes to real estate - and he has a proven track record of picking a winner. The 10 property hotspots picked 12 months ago by PRDnationwide's state director of residential research, Jon Rivera, had an average change in median house price of 22. (Sydney Morning Herald)
Switch in focus proves the point in Stockland's approach Feb 6, 2008
He says in the past five years many property trusts had resorted to "financial engineering and cranking returns through somewhat exotic instruments that didn't really show the true picture of what the underlying real estate was delivering". And his business's strong position is an ample reward for ignoring market criticisms about Stockland's lack of purchases when debt was cheap and asset prices were soaring. (Sydney Morning Herald -- Business)
North Bank plan dismal: expert Jan 24, 2008
"It's the river, it's not a piece of real estate. It should be respected as a cultural land form.". Professor Skinner insisted he was in favour of developing the north bank site, as was the state's peak planning body, the Planning Institute of Australia (PIA). (Sydney Morning Herald)
Huge rise in home repossessions shows battlers doing it hard Jan 22, 2008
A Guildford real estate agent, Peter Tannous, said this January was already worse than the last ... Real estate agents say most repossessions take place in parts of western Sydney where house prices have fallen. (Sydney Morning Herald -- Business)
Brisbane's most affordable suburbs revealed Jan 19, 2008
The Real Estate Institute of Queensland has released its list of the state's cheapest locations, which indicates first home buyers are moving further away from the city centre ... "Sure, their first home might not be in the suburb that many of them may have dreamed they would live in, but to get a foothold in real estate everyone has to start somewhere.". (Sydney Morning Herald)
Queensland's most affordable suburbs Jan 19, 2008
Source: Real Estate Institute of Queensland. SPONSORED LINKS. (Sydney Morning Herald)
Hunter becomes prey for minnow rival Jan 14, 2008
MFS has lodged a proposal with the teetering Centro property group but stressed its proposal to manage 35 Centro property syndicates did not involve buying any real estate. The chief executive of City Pacific, Phil Sullivan, rejected speculation the merger was designed to help prop up MFS's ailing share price and find a way for the group to divest Stella. (Sydney Morning Herald -- Business)
City exodus driving rents up Jan 5, 2008
Today, the Real Estate Insitute of Australia warned that rents were likely to continue climbing during 2008. Real Estate Institue of Queensland (REIQ) managing director Dan Molloy said vacancy rates in Brisbane remained low. (Sydney Morning Herald)
The Way It Was by Richard Andre Dec 30, 2007
It was built in 1872 by real estate developer Brisbane Walker to provide access to his new subdivision on Charlestons West Side ... It was built in 1872 by real estate developer Brisbane Walker to provide access to his new subdivision on Charlestons West Side. (Charleston Gazette, WV -- News)
The perfect Christmas gift: a coastal property Dec 25, 2007
Many interstate holidaymakers enjoying some time off in the Sunshine State this festive season will also use the opportunity to scope out the local property market, according to the Real Estate Institute of Queensland. Many Queenslanders take a well-earned break from work this time of year, but it will be business as usual in real estate agencies across the state - especially in the south-east. (Sydney Morning Herald)
Lots of dosh but Mr T. takes the lot Dec 15, 2007
"As a result of the business success enjoyed by the husband, the husband and wife were able to lead a luxurious lifestyle both in England and in Australia featuring high-priced real estate, exotic motor vehicles, first class travel ". But His Honour wasn't sure about carving up the assets because he believed the wife didn't know about the offshore accounts and the tax liability that came with them. (Sydney Morning Herald -- Business)
Dissent, but Allco bid wins approval Dec 12, 2007
Those concerns have been exacerbated by the poor performance of Rubicon's listed property trusts and Allco's specialist funds, including its existing real estate vehicle, Record Realty. Allco has claimed consistently that the unit prices of the funds do not reflect the value of their underlying assets. (Sydney Morning Herald -- Business)
Storms to hit Brisbane tonight Dec 11, 2007
"There are still storms there but this morning they were slow moving and we were worried that they were remaining over the same patch of real estate," senior forecaster Jonty Hall said. "Then you can get intense rainfall and that can lead to flash flooding problems but at the moment they are quite isolated and are moving quite rapidly so the risk of flash flooding has decreased.". (Sydney Morning Herald)
Fincorp was high-risk, says former chief Dec 11, 2007
The investment bank ABN Amro and the real estate arm of Ernst & Young were subsequently appointed by the group to advise on plans to sell its funds management business and its property investment arm. But ABN Amro quit as an adviser in October, expressing "uneasiness" about getting 100 per cent of the sale plan away, Mr Stubbs said. (Sydney Morning Herald -- Business)
Brush-off for small business Dec 7, 2007
Missing: Small Business groups are disappointed Small Minister Craig Emerson hasn't made it into the Rudd cabinet. Small business owners are frustrated that they still do not have a voice in federal cabinet, after expectations that Prime Minister Kevin Rudd would promote the portfolio were dashed when the ministry was announced. (Sydney Morning Herald -- Business)
Christmas spree anticipated Nov 27, 2007
Prime minister-elect Kevin Rudd with his wife Therese Rein in Brisbane yesterday. Labor's federal election victory on Saturday could have a positive impact on Christmas spending, says the Australian Retailers Association. (Sydney Morning Herald -- Business)
Little impact from IR changes Nov 26, 2007
Election spending promises made by the incoming federal Labor government will need to be reassessed against inflation, but a roll-back of WorkChoices was unlikely to have dramatic negative impact on the economy, economists say. The new government has promised to move quickly to repeal the controversial legislation. (Sydney Morning Herald -- Business)
Kirribilli House 'up for sale' Nov 23, 2007
An internet prankster has listed Kirribilli House, the Prime Minister's official Sydney residence, on online real estate website , owned by Fairfax Media, publisher of brisbanetimes. com. (Sydney Morning Herald)
Australia PM's house for "sale" in election prank Nov 22, 2007
"Impressive waterfront views! Poised on the top of a hill and the envy of many onlookers. This two-storey house is a residence of power," said a spoof advertisement on newspaper real estate Web site domain. com. (The Star Online, Malaysia)
Cannabis raids net drugs, cash Nov 10, 2007
The money and other property, including real estate interests, will be the subject of further proceeds of crime action by the Crime and Misconduct Commission (CMC), he said. "These criminals need to know that we are constantly monitoring and targeting their activities," Supt Wilkins said. (The Age)
Owner-occupiers driving up rents Oct 4, 2007
The Real Estate Institute of Queensland said declining housing affordability was forcing increasing numbers of aspiring first home buyers to consider a purchasing an apartment or townhouse. "This sustained population growth, coupled with a very solid economy, ensures the state's residential unit and townhouse market is likely to continue to perform very well," REIQ chairman Peter McGrath said. (Sydney Morning Herald)
Businesses gutted in Brisbane industrial blazes Sep 30, 2007
In a separate fire in the same suburb a real estate agency was extensively damaged in a small shopping centre. Queensland firefighter Paul Simmons says the two fires at Sandgate could be related. (ABC Regional Online)
Cracks appear in Brisbane property boom Sep 27, 2007
Uni students offered real estate licence. text/html-document. (Sydney Morning Herald)
CBD tower sale may set record Aug 30, 2007
QIC is selling its three-tower Central Plaza complex, located in the city's so-called "golden triangle" of prime commercial real estate ... Global Real Estate chief Laurie Brindle said the decision to sell was strategic. (The Age, Australia)
Aussie John: John Symond Aug 20, 2007
MONICA ATTARD: Now you've described the lack of housing affordability in Australia as a national crisis and you've expressed concerns about its social impact, but you make your money from loans that drive the real estate market ... Two years ago when I went out and said listen, I believe property prices are going to drop five or 10 per cent, well, did I cop it from the industry players, from the real estate players. (ABC Online)
Howard's 8.3% vs Keating's 17% Aug 9, 2007
Dara Dhillon, a real estate agent in Ingelburn, said the rate rise would cause more "misery" in the area. "This will be tipping point for a lot of borrowers," he said. (The Age, Australia)
My Small Business Jul 29, 2007
Small Business News, Information esources - smallbusiness. Starting your business. (Sydney Morning Herald -- Business)
Doctors, patients floored by virus Jul 18, 2007
MORE cases of norovirus were diagnosed at the Gold Coast Hospital yesterday as the highly infectious illness swept southeast Queensland. Director of medicine Associate Professor John Gerrard said the virus had spread among patients. (The Gold Coast Bulletin)
Driver may have suffered heart attack Jul 16, 2007
It went through LJ Hooker s window the principal (of the real estate agency) and I are in Rotary together ... " Cr Drescher said while the incident was shocking, at least there was nobody on the footpath outside the real estate office. It s absolutely a miracle, astounding, that it just happened at a particular moment in time when there was nobody crossing there (at the pedestrian crossing at the scene). This poor girl, coming to work in the morning and sitting inside her office at her desk. You... (Sydney Morning Herald)
Two die as car crashes into shop Jul 16, 2007
Two people are dead after a four-wheel-drive - believed to be travelling at more than 100kmh - crashed through the window of a Beaudesert real estate agency this morning ... A Beaudesert businessman who witnessed the accident at the real estate agency said the Landcruiser was travelling at more than 100 kmh when it crashed into the office ... " Cr Drescher said. You certainly don t expect it at the only set of traffic lights in the middle of town. I don t know why the car was coming through like... (The Age)
Cancer diagnosis for ABC Brisbane staffer Jul 13, 2007
Charlie Sheen is engaged to Brooke Mueller, a real estate investor. ALL MEN ARE LIARS Thinking about getting a new toy. (The Age)
Brisbane rents 'too cheap': expert Jul 10, 2007
He said owners sometimes relied on the opinion of the real estate agent who sells them a property when it comes to setting rent. "Always get an opinion of rental value from a specialised property management organisation," he said. (Sydney Morning Herald)
TASER Used to End Attack On Pregnant Woman Jul 7, 2007
Source: TASER International, Inc.. WASHINGTON, July 6, 2007 (PRIME NEWSWIRE) -- TASER International, Inc. (NasdaqGS: - ), a market leader in advanced electronic control devices, released the following News Alert. (Primezone Releases)
Banks afraid of CBD slump Jul 2, 2007
"It's all about approaching the right lender for a specific purpose. "When looking to buy or invest in any real estate borrowers should be looking for the lender who is more comfortable with their security. " SPONSORED LINKS 1183229007570-brisbanetimes.com.auhttp://brisbanetimes.com.au/news/queensland/banks-afraid-of-cbd-slump/2007/07/02/1183229007570.htmlbrisbanetimes.com.auSydney Morning Herald2007-07-02Banks afraid of CBD slumpShannon... (Sydney Morning Herald)
