Darren Steinberg

In a post-covid, high-inflation and volatile economic (and geopolitical) environment, the RICS Global Property Monitor provides timely insight at sentiment and activity in commercial real estate markets. My commentary is linked below, but themes of bullishness in India to the reinvention of the office market globally and stabilisation of sentiment in Australia, the Monitor is worth a read. Link: https://lnkd.in/gU_bajE3

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Stuart Cartledge, Managing Director of Phoenix Portfolios, writes that, as of June 2024, the listed property sector is in good shape and provides investors with the opportunity to gain exposure to high quality commercial real estate at a meaningful discount to independently assessed values. While share market volatility may be uncomfortable at times, the offset is liquidity, enabling investors to rebalance portfolios without the risk of being trapped in illiquid vehicles. https://lnkd.in/g8vxcAZh #reits #marketupdates

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🚨 Key Insights From the Real Estate Market Across States and Territories in Australia New South Wales (NSW) Sydney continues to dominate as the country's most expensive capital city, with 448 house markets and 107 unit markets exceeding the million-dollar median mark. This means nearly half of Australia’s million-dollar suburbs are located in Sydney, with 23 markets re-entering the seven-figure club and 25 joining for the first time, primarily in the city's South West and Outer South West regions. Victoria (VIC) In Melbourne, 191 suburbs met the million-dollar threshold for houses, while 11 did so for units. Overall, dwelling values fell by 1% across Melbourne and regional Victoria since August 2023, with some suburbs dropping out of the million-dollar club. Despite this, several areas, such as Coburg North, Keilor East, and Riddles Creek, have re-entered. Queensland (QLD) Brisbane emerged as the market with the largest growth in million-dollar suburbs, tying with Sydney. It now ranks as Australia's second most expensive capital city, with 46 suburbs (32 new and 14 rejoining) reaching the seven-figure mark. Currently, nearly half of Brisbane's suburbs have a median house value exceeding $1 million. South Australia (SA) In Adelaide, 104 suburbs (36.6% of those surveyed) reached the $1 million mark, an increase from 75 in August 2023. Adelaide’s South region recorded the largest growth in "millionaire" house markets. Western Australia (WA) Perth has experienced a 24.2% rise in property values, resulting in 31 house and four unit markets joining the million-dollar club. This surge has made Perth a notable player in the high-end property market. Tasmania (TAS) Hobart experienced the biggest decline in dwelling values among capital cities over the past year (-1.2%). Despite this drop, Sandy Bay, Acton Park, and Tranmere remain the only suburbs with a median value above $1 million. Northern Territory (NT) Darwin remains the only capital city without any suburbs reaching the million-dollar mark. The highest median value recorded was $939,517 in Fannie Bay. Canberra (ACT) Dwelling values in Canberra rose by 1.5% over the past year, pushing six suburbs back into the million-dollar club. Forty-five house markets and just one unit market reached the seven-figure mark. 💰 What This Means for Property Investors As more suburbs surpass the $1 million mark, affordability pressures continue to intensify. However, with fluctuating growth patterns and some regions experiencing declines, there are still opportunities for savvy investors to capitalise on market shifts. Keep an eye on emerging suburbs that are entering or re-entering the million-dollar club, as they may present potential for strong capital growth in the coming years. This data emphasises the importance of being adaptable and informed in a dynamic property market where opportunities may arise in both established and up-and-coming regions. #propertymarketinsights #realestateaustralia

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💡 Market Insights: CoreLogic Economist Kaytlin Ezzy says demand is now tilting towards unit and apartment living due to affordability concerns, particularly in capital cities. The prolonged high-interest rate environment has seen buyer demand continue to skew towards more affordable housing alternatives, with most capitals now recording stronger growth in the more affordable unit sector "House values surged nearly 40 per cent since March 2020, while unit values rose 17.9 per cent, indicating the widening gap between house and unit values," Ezzy says. Read more below. ------------ 📣 Was this update of interest to you?🔥 Join 16,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡  New project launches and updates 💡  What buyers are searching for on AU’s largest off-the-plan buyer platform 💡  Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

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APJ'S daily wrap up of #commercialproperty #investmentsales , as well as leasing transactions across Australia. #RetailLeasing #IndustrialLeasing #OfficeLeasing #CRE #commercialrealestate

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Stamford Capital Australia has released the results of its annual Real Estate Debt Capital Markets Survey, revealing that builders’ reputations are the new “stop go metric” in development and construction finance. “Despite these challenges, lending appetite remains strong for developments with quality builders with plenty of liquidity in the market, while presale and ICR hurdles are moving in an expansive direction,” said Peter O'Connor Director of Stamford Capital Australia. https://lnkd.in/ebN9n3rv Stamford Capital Australia Peter O'Connor David Chandler OAM #reports #annualrealestatedebtcapitalmarketssurvey #debtcapitalmarkets #propertymarkets

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The Real Estate Institute of New Zealand (REINZ) stats are out for March! The property market witnessed a notable surge in listings, elevating buyer confidence and prompting a deliberate approach to decision-making among some buyers. 🏡 📈 Read the full report here — bit.ly/3vTf3Va

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FOR SALE | Reading Courtenay Central & Associated Landholdings JLL is delighted to bring to market a once-in-a-lifetime opportunity to secure a property that offers control of approximately 1.5 hectares of flat, freehold land, centrally located in New Zealand’s Capital City, Wellington. The property consists of several adjacent sites acquired by Reading over a period of years. Offered together, they provide one of the last contiguous, privately owned development properties in central Wellington. Development opportunities are extensive, with strong demand in the heart of Wellington City for premium residential developments, retail spaces, restaurants, cafes, hospitality, hotels, and entertainment venues. Key Highlights: • Offering ownership of approximately 1.5 hectares (combined) of prime freehold land. • Substantial development potential with strong end-use demand. • High connectivity site access from all four surrounding streets. • Premium location with development opportunities to provide harbour views. • One of the last continuous, privately owned, large development sites. • Offered to the market with vacant possession (subject to signage lease 200 Wakefield Street) The Reading Courtenay Central & associated landholdings are for sale via International Expressions of Interest, closing 4.00pm, Thursday 15th August 2024 (NZST). Follow the link to view the listing online: https://lnkd.in/gXbPFw9A JLL Todd Lauchlan Harry Fergusson Sam Hatcher Nick Willis Jacob Swan Luke Billiau Kate Low Sandra Tan Mark Farrands Marcia Marshall CA MInstD Gavin Read Stathis Moutos John Davies Ben Cameron Lee Pinfold

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The supply/demand balance is the key driver of price movements across Australia’s cities and regions today. The areas doing well have tight supply and demand and vice versa in the softer markets.

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APJ'S daily wrap up of #ruralproperty and #commercialproperty #investmentsales, as well as leasing transactions across Australia. #RetailLeasing #IndustrialLeasing #OfficeLeasing #CRE #commercialrealestate #agriculturalproperty #agribusiness #agriculture

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APJ'S daily wrap up of #developmentsite, #socialinfrastructure and #commercialproperty #investmentsales, as well as leasing transactions across Australia. #RetailLeasing #IndustrialLeasing #OfficeLeasing #CRE #commercialrealestate

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