L J GIlland RE RPData Industry Market Wrap Up November 2011

For Clients, Associates & Friends of L J Gilland Real Estate Pty Ltd:-

An Industry update generated by RPData for your perusal and information:-

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Industry Market Wrap

Based on ABS data released this week, a surge in construction activity commenced over the September quarter with the total value of work completed increasing by 12.5%. Most of the rise was driven by engineering works (up 22.6%) while the building sector saw an increase of just 0.6% in value over the quarter. Looking deeper into the figures, residential construction hasn’t seen any of the improvement with the value of construction work down 1.1% over the quarter and 3.9% lower over the year. The stronger than expected construction figures highlight the two speed nature of the economy. The value of engineering work (mostly attributable to the resources sector) was up 22.6% over the quarter and 48.9% over the year while construction activity across the non-resources sector remains pretty much flat.

The RP Data-Rismark Home Value Index results for October 2011 will be released on Wednesday of next week. The results, which will reflect market conditions pre-rate drop, are likely to see a continuation in the weak trend that has been evident since the start of the year, however recent months have seen value declines levelling. In October, consumer confidence was still low, together with a high volume of stock available for sale, low auction clearance rates and interest rates at an above average level which suggests more of the same conditions. Given that October was the last month in which official interest rates were at 4.75% before the 25 basis point cut in November, the next few months of data will be interesting to analyse to see if volumes or values show any improvement.

Latest National Auction Clearance Rates

The weighted average capital city auction clearance rate fell to 45.8% last week from 46.5% the previous week. The number of properties taken to auction also fell from 1,893 to 1,699. Auction clearance rates have now remained below 50% for 20 consecutive week and with the Christmas / New Year period looming it seems that the earliest we will see an improvement is next year. Melbourne’s auction clearance rate fell to 45.9% from 48.3% the previous week. The 45.9% clearance rate was the weakest weekly reading in 30 weeks. In Sydney, clearance rates increased from 50.6% the previous week to 51.6% this week.

Advertised Stock on the Market

The number of newly advertised properties for sale increased again over the past week, the second successive week in which new listings rose suggesting there may be a late rush to list during the latter part of spring. Despite the increase, new listings remain at quite low levels: -11.1% lower than they were at the same time last year nationally and -15.4% lower across the combined capital cities. Despite the increase in new listings nationally, the total number of listings actually fell across the nation however, total listings rose across the combined capital cities. RP Data is currently tracking 311,286 properties for sale nationwide and 156,869 across the capital cities. The number of homes for sale nationally is currently 28.1% higher than at the same time last year and 26.3% higher across the combined capital cities. As the data shows, there is a relatively even split between the number of properties for sale in capital cities and in regional markets.

Number of Properties Advertised for Rent

The number of new rental listings has eased slightly over the past two weeks. The number of newly advertised rental properties was 12.8% higher than the same time last year nationally and 10.2% higher across the capitals. Total rental listings also fell over the week however; they are now tracking 10.3% higher across the nation and 10.1% higher across the capital cities than they were at the same time last year. Despite a greater number of properties available for rent than at the same time last year, recent data shows rental growth is stronger now than it was a year ago.

L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland.

Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor’s the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services.

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Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085.

Best regards,

Linda Jane Debello LREA

http://www.ljgrealestate.com.au

http://au.linkedin.com/in/lindajanedebello

http://twitter.com/GillandDebello

Confidential Email:- The information in this message is intended for the recipient named on this email. If you are not that recipient, please do not read, copy, distribute or act upon the message as the information it contains may be priveleged and confidential. If you have received this message in error, please notify us immediately by return email. Thank you for your co-operation.

About http://www.ljgrealestate.com.au

Previous Board Member of Singapore & Malaysian Business Associations, BA Modern Asian Studies (GU) majoring in Economics & Mandarin, Licensed Real Estate Agent since 1996. Member of REIQ. Firm Member of Leading Property Managers of Australia. Our expertise at LJ Gilland Real Estate is your peace of mind. Our reputation lies in high performance property sales, and we take great pride in our excellence in property and asset management as well as body corporate management. We find individual solutions to fit our Clients needs. Being property specific rather than area specific because confining ourselves to one area simply wouldn't be giving you what you need. Specialties International Business negotiations, bilingual, Appraising Queensland Based Properties, Contractual negotiations, Dedicated to Family & Business, hardworking & focused to get the best outcomes for each and every Client.
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