Leading Wollongong based family office, Quality Green Group (QGG) has made its first property purchase outside of the Illawarra, acquiring 1 Rivett Road, North Ryde for $38.5 million.
If you’re looking to invest in real estate it is important to understand the current market trends. Here’s a rundown of some of the key market indicators and what they might mean for you.
Growing demand for office space is driving down vacancy rates in CBDs across Australia, with Melbourne and Sydney at decade-lows, according the latest Property Council Australian Office Market Report. Overall, Australian office vacancy fell by 0.7 per cent in the six months to January 2019 to 8.5 per cent.
The first half of the financial year has revealed a number of success stories for our market-leading commercial sales team in the Illawarra with an astounding total of $127,506,000 in sales volume!
Two years after it set a commercial property record, a landmark Wollongong site is now expected to fetch more than $50 million.
China is set to be home to the world’s largest indoor ski resort, with a huge 90,000sqm snow park coming to Shanghai.
The nine suburban central business districts in the Northern Suburbs of the Illawarra are continuing to show the benefits of increased tourist visitation and a sustained residential population growth. Evidence of these thirving conditions is the sale made by MMJ Wollongong of 43-45 Princes Highway, Fairy Meadow. This transacted prior to auction, to an established local investor at a record yield of 4.2% net.