The 12 must-know property numbers of the last financial year

By Cassidy Knowlton
Friday, 08 June 2012

As Property Observer celebrates its first anniversary, we look back on some of the biggest numbers that made property news in the past year.

The approximate value of mining projects currently under way in South Australia, according to Hotspotting.com.au director Terry Ryder. Ryder says the state is Australia's most under-rated economy and could be a good prospect for investors.

The sales volume expected for Melbourne offices in 2011, according to Colliers. “The reasons for Melbourne being the hottest office market in Australia will not change overnight. The fundamentals of our economy are very healthy and the medium-term forecast for office rental growth in the CBD is very strong,” says Nick Rathgeber, director of institutional investment services at Colliers.

The amount per week actor Leonardo DiCaprio paid per week to rent a property in Vaucluse while he filmed the titular role in Baz Luhrmann's adaptation of The Great Gatsby in Sydney.

The amount of money that offshore Chinese buyers spent on Gold Coast property during the 2010-11 financial year. Chinese buyers accounted for nearly a third of foreign purchases of Queensland residential real estate during the 2010-11 financial year

The amount by which American self-described "real estate expert" Jordan Wirsz predicts Australian house prices will fall in the next five years. Prominent property doom commentator Steve Keen expressed ironic relief via Twitter that another analyst has forecast even worse tidings than his longstanding forecast for the Australian property market.

The minimum number of stories a new development in inner Melbourne or Sydney should have, according to Meriton boss Harry Triguboff. "In inner-city areas we need to recognise that five-to six-storey apartments are uneconomical," Triguboff says.

The amount of overhang of stock in Melbourne, the largest stock overhang of any capital in Australia, according to Residex boss John Edwards. “I’m worried about Victoria,” he says.

The number of consecutive months house prices have fallen to May, according to the ABS. "The odds are that the rate of decline will accelerate in the next year," says economist Steve Keen, who sees the ABS figures as a sign that Australia's housing bubble is bursting.

The amount of money the federal government will save in the next four years by axing green buildings tax breaks in the federal budget. The scheme had never come into effect, being shut down before it began.

The amount of equity that 1st Fleet boss Stephen Brown has in his Sydney Harbour home, which is on the market with $16 million price hopes. His wife, Corrine, holding the remaining 999/1,000 equity.

The number of Rolls-Royces that Refund Home Loans founder Wayne Ormond owned in the past. He says they have all been disposed of or repossessed.

The number of storeys planned for Lend Lease development Forté. It will be the world's tallest timber residential building. The building will rise to 32 metres and will be built with prefabricated wooden panels made from cross-laminated timber (CLT) and will feature 23 apartments.