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Herron Todd White – September 2011 Month in Review and National Property Market Report

We invite you to sit back and read through this month’s missive of property musings – we look at how the retail sector is performing and at yields in the residential rental property market.

If you think we may be able to assist you in making better property decisions, or if we can fill a need by undertaking valuations for asset or insurance  purposes on land, buildings or plant and equipment, please call us.

We can also assist with Quantity Surveying, Tax Depreciation Schedules and a broad range of tenancy solutions / advisory.

To read more, click here.

Best Wishes,

Christina Penrose

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The Rental Low Down – Herron Todd White Rental Report

Rental growth continues to be subdued with only stable or modest growth in each sub-sector.  Prime face rents have generally remained stable with some decreases in secondary rents, a consequence mainly due to an increase in vacancies.  Whilst face rents generally remain stable, effective rents have fallen as landlords   offer incentives to entice good tenants on favourable terms.  The near term outlook for retail rents is for them  to remain stable.

The past 24 months has seen a large decompression of yields as investors fled the market to the safety of cash and cash equivalents.  This movement was varied and depended greatly on the sub-sector, the location of the property, the strength of tenant and the tenancy mix.  Prime yields have softened by between 0.5% and 1.0% with secondary yields softening by 1.0% to 2.0% which has brought the yield spread between prime and secondary properties to more traditional levels. Yields have generally stabilised across the sub-sectors.

Brisbane CBD yields ranging from 6.25% to 7.25%, prime neighbourhood centres with a Coles or Woolworths major ranging from 7.00% to 8.00% and well located convenience centres with a strong tenancy mix are also achieving yield ranging from 7.00% to 8.00%.  secondary yields are between 8.00% and 9.00% with others above 9.00%.

For a full copy of the Herron Todd White report call 07 3510 5222 or email christinapenrose@remax.com.au

Source: Herron Todd White

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