Economy
victoriaGeelong economy “strong enough” to absorb Ford plant closure: Terry Ryder
Geelong is no longer dependent on manufacturing having reinvented itself as a diverse economy, says Terry Ryder.
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foreign investmentAustralian dollar less of a factor in commercial property investment: Jones Lang LaSalle chart
Funds poured into Australian commercial real estate when the Australian dollar was well above parity against the US dollar in 2012.
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auctionsCapital city auction clearance rates hit 67.3% while new listings fall: RP Data
Auction clearance rates have now been above 60% for seven consecutive weeks; the last time this occurred was in June 2010.
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residentialInvestor demand could spur 10% gain in mid-market Sydney property prices in 2013: APM’s Dr Andrew Wilson
Low interest rates and increasing buyer confidence are the two key factors that could drive 10% growth for properties priced between $500,000 and $1.5 million says Dr Andrew Wilson.
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landlordsProportion of landlords making rental losses peaked in 2008: Macrobusiness
Property investors claimed a record $9.1 billion in aggregate losses in 2008, lower than $7.9 billion in aggregate losses claimed in 2010-2011, ATO figures show.
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victoriaFirst Ansett collapse, now Ford plant closure threatens Broadmeadows property market
There will be around 650 jobs lost at the Broadmeadows Ford production plant and 510 at the Geelong production plant.
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newsHui Wing Mau, Chinese property billionaire the highest BRW Rich List debutant
Chinese property developer and Australian citizen Hui Wing Mau makes a stellar debut on the BRW Rich 200 list but his $4.8 billion was not enough to knock Frank Lowy and Harry Triguboff of their higher property perches.
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commercialWestfield’s Frank Lowy rises above Ivan Glasenberg as second richest Australian with Meriton’s Harry Triguboff up to sixth richest on 2013 BRW Rich list
Meriton boss Harry Triguboff, who turned 80 this year, has risen up one place from seventh to sixth with a fortune estimated at $4.95 billion up from $4.85 billion a year ago.
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trendsBudget woes sees consumer sentiment fall to lowest level since August 2012, but housing sentiment lifts: Westpac index
Sentiment about the housing market defied the overall drop in consumer confidence with the ‘time to buy a dwelling’ sub-index lifting 11.2% in May to be up 20.7% over the past 12 months.
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residentialProperty values could soon exceed 2010 highs as uninspiring election looms: Monique Sasson Wakelin
I’m concerned about the possible mixed messages that Australia is sending internationally, particularly to potential investors and wealth creators.
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