#RetailRecession #Economy #HeiseSays An impromptu look at Australia Fair Shopping Centre on the Gold Coast and the large number of vacant tenancies.
Month: October 2019
Categories
Melbourne’s Land Plunges 20%
#Economy #RealEstate #HeiseSays Melbourne’s empty land has plunged in value by up to 20%, with buyers struggling to secure financing. References
#Economy #Recession #HeiseSays Australia has lost over 120,000 millionaires. Could this negative “Wealth Effect” be the reason for the retail recession? References Housing market slump means Australia has lost 124,000 millionaires https://www.news.com.au/finance/money/wealth/housing-market-slump-means-australia-has-lost-124000-millionaires/news-story/47c166ee2a77ad677afd6bcd33208e95 The Wealth Effect https://www.investopedia.com/terms/w/wealtheffect.asp
#Property #RealEstate #HeiseSays 60 contaminated sites have been publically identified in Queensland, including future development sites. References Erin Brockovich sounds alarm over PFAS contamination after more Queensland sites revealed https://www.abc.net.au/news/2019-10-21/erin-brockovich-sounds-alarm-over-pfas-as-new-qld-sites-emerge/11606772
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Potential Strata Corruption
#Property #RealEstate #HeiseSays Apartment caretake contracts are creating the potential for corruption. References https://mobile.abc.net.au/news/2019-10-20/markets-buying-risk-but-has-global-economic-conditions-improved/11618474?section=business
#Property #RealEstate #HeiseSays Investor Confidence is apparently growing. References Low rates, strong rental yields boosting investor confidence in Qld
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Worthless Off the Plan Apartments
#Property #RealEstate #HeiseSays Off-the-plan Apartments are losing their value in record numbers. References Majority of off-the-plan apartments worth less than purchase price, data shows https://www.abc.net.au/news/2019-10-21/majority-of-off-the-plan-apartments-worth-less-than-bought-for/11613256?fbclid=IwAR0z4c7meB5OaFftnrT-Im2lFdxQVIjZNae3QkLpkb1PDAta9M6sTQOTbAw
#Economy #Recession #HeiseSays China’s GDP is falling and it can cost Australian Jobs References https://mobile.abc.net.au/news/2019-10-18/china-economy-hits-three-decade-low-with-gdp-at-6pc/11616774?section=business
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Construction Sector Decimated
#Construction #Economy #HeiseSays Australia’s construction sector is slowing down and may decimate the job sector. Once again the RBA was surprised. References ‘Jobs will be lost’: Construction slowdown to leave thousands unemployed https://www.news.com.au/finance/work/careers/jobs-will-be-lost-construction-slowdown-to-leave-thousands-unemployed/news-story/4c43923160ce3c0d5327ff0103abe1c4?fbclid=IwAR2QFIH4si-udcnd3RKZBLgqLKMUXLrTDN7od7sjCl17HCldX_4c1u2NjUQ https://s3-ap-southeast-2.amazonaws.com/sua-gateway-files/Digital-Foundations-media-release-version-1.2.pdf
#Melbourne #Infrastructure #HeiseSays Melbourne’s West Gate project is paying labourers exorbitant wages. I guess Andrew’s government needs to take care of their supporters? References https://www.infrastructureaustralia.gov.au/search-priority-list-map http://westgatetunnelproject.vic.gov.au/about/latest-updates/supporting-the-west-with-funding-for-community-led-ideas Labourers working on Victoria’s West Gate Tunnel raking in $110,000 for 36-hour weeks https://www.couriermail.com.au/lifestyle/labourers-working-on-victorias-west-gate-tunnel-raking-in-110000-for-36hour-weeks/news-story/4c0741984126a2343203f91e48ac23c0?fbclid=IwAR2hlXBDpSC2KUr9eH9qz-DDn8kb6e6j4Qx8iSh9sij7IN3fIrNHvCrWtQU