Mortgage trusts: is there a future?
It was just over a year ago that Australia's mortgage trust sector experienced a true, good old-fashioned panic run from investors, forcing many well-known fund managers to suspend their funds.
This panic run was indirectly caused by the financial crisis and directly triggered by the introduction of the government guarantee on bank deposits in late October last year.
The guarantee distorted the risk-return trade-off across investments, undermining the competitive position of the sector...read more
Source: The Australian - 17 December 2009
Homeowners may be spared February interest rate rise
Homeowners may be spared a rate rise in February after a Reserve Bank official said interest rates are now in a 'normal range'.
RBA deputy governor Ric Battellino also defended moves by the retail banks to raise rates by more than the central bank, drawing an angry response from Treasurer Wayne Swan.
"The additional margin taken by the three big banks...was not justified in the circumstances we are in now," Mr Swan said on ABC last night...read more
Source: Nine MSN Money - 17 December 2009
Units eclipse sales record in Coomera
The sale of two commercial units in an Upper Coomera industrial hub has set a sales benchmark in the area.
Gold Coast-based development company Condev Constructions sold the industrial units in its Northward Street development last month for an average of $2150/sq m.
The figure eclipsed the previous rate acheived in the area of $1600/sq m at a recent auction...read more
Source: Gold Coast Bulletin - 11 December 2009
$11m sales in building Raptis lost twice
MELBOURNE property developer Drapac has racked up more than $11.2 million in strata-title deals in a Surfers Paradise beachside retail and office building.
Drapac Management, linked to Michael Drapac, bought the Le Boulevard property late last year for $18.5 million after Raptis Group entity Glennington was placed into receivership.
The four deals were for shops leased to prestige retailers Louis Vuitton and The Hour Glass, and Japanese restaurant Sushi in Paradise, and for an office tenancy...read more
Source: Gold Coast Bulletin - 27 November 2009
