The wave of residential conversion sweeping Australia’s major capital city markets is gathering pace in North Sydney, where an ageing commercial asset has sold to a residential developer for $45 million. The medium-rise commercial building at 144 Pacific Highway has plans for a 24-storey mixed-use development and is owned by Strand Estates. The sale comes
Sydney and Melbourne posted strong weekend property sales, despite buyers showing signs of being more choosy after recent weeks of frantic bidding, according to property specialists. Notable sales in Sydney included $2.7 million paid for a designer-built house that looks like a tin shed from the outside, in inner-Sydney Redfern, and $1.7 million for a
What do you think influences your property’s performance the most over the medium to long term? As the old adage goes, the three most important factors in determining the desirability of a property are “Location, Location, Location”. It is always best to do your research, but as veteran property commentator Michael Matusik believes, the six
More than half the property auctions scheduled for this week are in Queensland, with the vast majority to be held outside of Brisbane, especially on the Gold Coast. Several Gold Coast estate agencies will hold mega auctions this week, with multiple properties going to auction in a single day. The trend began with Ray White
Will 2014 be the year of the new property development? Will the banks relax their financing requirements for developments and start pushing LVRs higher and presale requirements lower? Looking at what is planned early on in the year, celebrated Queensland property developer Sir John Pidgeon will begin what may be his last major residential project
A surge in apartment construction in Brisbane puts the city on track to pick up to an average 2700 completions a year by 2015-16, a new report by research firm BIS Shrapnel says. With more than 4000 apartments in inner Brisbane under construction already due for completion by 2015-16, as many as 3000 more are
Home buyers and investors are the big winners as the major banks offer larger interest rates discounts on mortgages in a bid to win customers as the property market heats up. Amid intense competition in the home loan market, mortgage discount of at least 0.85 percentage points have become common place, while some borrowers are
A Melbourne Property developer is betting on a rising Brisbane apartment market, with plans for a $600 million project in the suburb of Fortitude Valley. The collection of proposed residential towers, one of which is modelled on New York’s Flatiron building, will comprise more than 700 apartments as well as a 100-apartment hotel. It will
With the media constantly trying to grab headlines with talk of a bubble, unaffordability and busts, is now a good time to be investing in property? What should you do with your cash and deposit funds and what is the benefit in purchasing residential property? Like with most things, unless you have a crystal ball that
Wealthy property developer Ross Nielson is selling a Brisbane city office building which could be turned into more than 300 apartments if a new town plan approves larger height limits. The building at 433 Boundary Street, Spring Hill could sell for more than $25 million. This follows several similar transactions in which major investors have