Chinese New Year brings good fortune to auctions
Auctions performed well at the weekend with Chinese New Year bringing interest from foreign investors and domestic buyers alike. Sydney saw an exceptionally strong clearance rate of 85 per cent, up 5 per cent from last weekend and just below the rate achieved for the same weekend last year. In Melbourne the clearance rate was up to 77 per cent from 73 per cent last week, Brisbane surged from 44 per cent last week to 57 per cent and Adelaide increased from 56 per cent a week ago to 62 per cent. The national clearance rate was 79 per cent, up from 74 per cent last weekend.
Source: Australian Property Monitors

Australian cities fail to make sustainable top 10

Across the world cities are failing to meet the needs of their people according to the inaugural Sustainable Cities Index from consultancy firm Arcadis. The Index explores the three demands of social (People), environmental (Planet) and economic (Profit) to develop an indicative ranking of 50 of the world’s leading cities. This year’s study found that there is no single city gaining top scores on all three metrics which highlights the difficult balance between the three. The top 3 cities overall are Frankfurt followed by London and Copenhagen. European cities dominate the top 10 although Seoul, Hong Kong and Singapore rank 7th, 8th and 10th respectively. Sydney is at 11 overall and ranks highly for social needs but is dragged down in the profit and planet elements. Melbourne is 17th overall; 8th for people, 5th for profit but a poor 23rd for environmental sustainability. Read the full report.
Source: Arcadis
Singapore style luxury comes to Oz
Luxury apartment blocks in Singapore frequently include a private club for the use of residents and now a developer from the city-state is including the idea in its first Australian apartment tower. Hiap Hoe’s Marina Tower in Melbourne’s Docklands will feature an exclusive leisure facility for its residents including a library, billiard room, dining room and kitchens, cinema and rooftop pool. Pricing for the apartments has not yet been announced but the development will be completed in 2017 and will be launched in Singapore.
Source: The Australian