Big sales mean boom is back

AUSTRALIA'S property market is bouncing back to peak levels as investors start to regain their confidence, LJ Hooker chairman Leslie Janusz Hooker says.

In an interview with Channel Ten's Meet The Press to be aired Sunday, Mr Hooker said a recent swathe of "trophy sales" - sales of luxury and high-end properties - signalled the start of a new boom in the overall real estate market.

"When you start seeing trophy sales like you start seeing recently in the $20 to $30 million range happen, it means the ... super luxury and holiday end of the market is on the move, and this doesn't happen unless the core markets are doing very well," he said.

"If you see in an Australian context the big players moving in and starting to buy again it means they're confident and that confidence is a good example of that showing right through to all of the markets."

Mr Hooker said overseas investors previously put off by poorly performing local markets were now looking to Australia as a stable area to invest in real estate.

"If you look at the Australian property market throughout the global financial cris, our property market performed better than any other developed nation on the planet," he said.

"(Foreign investors are) feeling a little more confidence with their domestic portfolios, and they're looking at the Australian market going 'it's been doing quite well, it's been moving the last quarter and now we start seeing a trend going upwards'."

Sydney is the first capital to feel the boom, Mr Hooker said, with sales back up to peak 2010 levels, followed by Canberra and Perth.

Brisbane is the slowest capital city to recover at around 10 per cent off peak levels, with Darwin, Melbourne, Hobart and Adelaide also a bit behind.

"It's those major metros that still have quite a bit of recovery, between five to 10 per cent to do, but that provides an opportunity beacsue there's still deals to be done there that are below their peaks," Mr Hooker said.

Kirsten Craze interviews Leslie Janusz Hooker on Meet The Press on Channel 10 at 10.30am Sunday.

See more from Meet The Press

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Personal loans up, new car sales down

Source: news.com.au

AUSTRALIANS are borrowing more money on personal loans, and buying fewer new cars, Australian Bureau of Statistics figures show.

Australian sales of new motor vehicles fell 0.6 per cent in March.

There were 95,113 new vehicles sold in March, seasonally adjusted, compared with 95,716 in February, the Australian Bureau of Statistics said on Tuesday.

In the year to March, new motor vehicle sales rose 4.5 per cent, seasonally adjusted.

Personal finance loans were up 2.8 per cent in February.

The Australian Bureau of Statistics (ABS) on Tuesday said personal finance commitments, seasonally-adjusted, rose to $7.883 billion in February, from $7.665 billion in January.

Total commercial loans in February rose 1.0 per cent to $29.180 billion, from $28.881 billion in January.

Lease finance was up 1.7 per cent to $530 million, compared with $521 million the previous month.

Housing finance for owner occupiers rose 1.2 per cent to $13.946 billion, from $13.782 billion the month before.

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US sales data weakens Aussie dollar

Australian Money Source: Supplied

The Australian dollar is marginally higher in response to encouraging housing data.

The local currency rose to 105.23 US cents shortly after the figures were released at 1130 AEST on Monday, from 105.19 US cents beforehand.

The Australian Bureau of Statistics said the total number of housing loan approvals rose two per cent in February, above market expectations of a 1.5 per cent improvement.

The Australian dollar opened weaker, as disappointing US retail sales data and a negative finish on Wall Street pushed the currency back towards 105 US cents.

At 0700 AEST on Monday, the Australian dollar was at 105.06 US cents, down from Friday's local close of 105.46 US cents.

It dipped below 105 US cents during the weekend offshore session, reaching as far down as 104.80 US cents.

The local unit also retreated slightly against the Japanese yen, following significant gains after the Bank of Japan announced a massive stimulus package.

At 0700 AEST, the Australian dollar was at 103.15 Japanese yen, down from 104.82 yen on Friday.

US retail sales fell 0.4 per cent in March, much worse than market expectations of an 0.1 per cent decline.

Also, US stocks ended on a weak note, with the S&P500 off 0.28 per cent and the NASDAQ settling 0.16 per cent lower.

BK Asset Management managing director Kathy Lien said the US retail sales data snapped the recent rally for currencies such as Australian dollar.

"The performance of the commodity currencies today shows that what has risen the fastest can also fall the hardest," Ms Lien said in a research note.

"Next to the Japanese Yen pairs, the worst performing currency pair was the NZD/USD.

"The Australian and Canadian dollars also came under selling pressure."

In economics news on Monday, the Australian Bureau of Statistics will release housing finance figures for February.

The Reserve Bank of Australia will release the minutes of its April board meeting on Tuesday.

View the original article here

US sales data weakens Aussie dollar

Australian Money Source: Supplied

The Australian dollar is marginally higher in response to encouraging housing data.

The local currency rose to 105.23 US cents shortly after the figures were released at 1130 AEST on Monday, from 105.19 US cents beforehand.

The Australian Bureau of Statistics said the total number of housing loan approvals rose two per cent in February, above market expectations of a 1.5 per cent improvement.

The Australian dollar opened weaker, as disappointing US retail sales data and a negative finish on Wall Street pushed the currency back towards 105 US cents.

At 0700 AEST on Monday, the Australian dollar was at 105.06 US cents, down from Friday's local close of 105.46 US cents.

It dipped below 105 US cents during the weekend offshore session, reaching as far down as 104.80 US cents.

The local unit also retreated slightly against the Japanese yen, following significant gains after the Bank of Japan announced a massive stimulus package.

At 0700 AEST, the Australian dollar was at 103.15 Japanese yen, down from 104.82 yen on Friday.

US retail sales fell 0.4 per cent in March, much worse than market expectations of an 0.1 per cent decline.

Also, US stocks ended on a weak note, with the S&P500 off 0.28 per cent and the NASDAQ settling 0.16 per cent lower.

BK Asset Management managing director Kathy Lien said the US retail sales data snapped the recent rally for currencies such as Australian dollar.

"The performance of the commodity currencies today shows that what has risen the fastest can also fall the hardest," Ms Lien said in a research note.

"Next to the Japanese Yen pairs, the worst performing currency pair was the NZD/USD.

"The Australian and Canadian dollars also came under selling pressure."

In economics news on Monday, the Australian Bureau of Statistics will release housing finance figures for February.

The Reserve Bank of Australia will release the minutes of its April board meeting on Tuesday.

View the original article here

Customer focus lifts Woolworths sales

Suppliers accuse Coles and Woolworths of bully tactics. Picture: File Source: news.com.au

RETAIL giant Woolworths says a clearer focus on what customers want has helped drive third quarter sales up 2.5 per cent to $14.4 billion.

Excluding the impact from the Dick Smith electronics business, which was sold in September, the group's sales for the 13 weeks to March lifted 5.7 per cent.

Woolworths chief executive Grant O'Brien said the positive momentum in the sales results showed customers were responding to targeted promotions and a better understanding of shoppers' needs.

"Our customers like the way we are using the insights we have on their needs through the investment we have made in customer engagement,'' Mr O'Brien said. "We are finding that customers feel empowered by the options we can provide them.''

Sales at Woolworths' core Australian food and liquor operations, rose 5.6 per cent to $9.9 billion.

Mr O'Brien said Easter trade had been pleasing and the supermarkets had continued to increase market share, customer numbers, and the number of items sold each visit.

"Utilising customer insights to target promotions continues to deliver beneficial results,'' he said.

Discount department store BIG W reported a 3.4 per cent lift in sales to $963 million, despite prices continuing to fall.

"Big W's trading for the quarter was supported by solid back-to-school and Easter promotional activity as we continue to focus on events and promotions that are profitable and attractive to our customers,'' Big W director Julie Coates said.

Ms Coates said the group planned to add a further two stores to the 176-strong network by the end of June.

Woolworths' hotel sales rose 19.7 per cent to $353 million, boosted by acquisitions during the first half, as well as changes to the Victorian gaming regulations which came into effect last August.

The group's home improvement division also lifted sales by 37.4 per cent, aided by the addition of four new Masters hardware stores.

Mr O'Brien said Woolworths also continued to improve its online offer, with web sales across all the group's businesses up by a total of 36 per cent.
 

View the original article here

Customer focus lifts Woolworths sales

Suppliers accuse Coles and Woolworths of bully tactics. Picture: File Source: news.com.au

RETAIL giant Woolworths says a clearer focus on what customers want has helped drive third quarter sales up 2.5 per cent to $14.4 billion.

Excluding the impact from the Dick Smith electronics business, which was sold in September, the group's sales for the 13 weeks to March lifted 5.7 per cent.

Woolworths chief executive Grant O'Brien said the positive momentum in the sales results showed customers were responding to targeted promotions and a better understanding of shoppers' needs.

"Our customers like the way we are using the insights we have on their needs through the investment we have made in customer engagement,'' Mr O'Brien said. "We are finding that customers feel empowered by the options we can provide them.''

Sales at Woolworths' core Australian food and liquor operations, rose 5.6 per cent to $9.9 billion.

Mr O'Brien said Easter trade had been pleasing and the supermarkets had continued to increase market share, customer numbers, and the number of items sold each visit.

"Utilising customer insights to target promotions continues to deliver beneficial results,'' he said.

Discount department store BIG W reported a 3.4 per cent lift in sales to $963 million, despite prices continuing to fall.

"Big W's trading for the quarter was supported by solid back-to-school and Easter promotional activity as we continue to focus on events and promotions that are profitable and attractive to our customers,'' Big W director Julie Coates said.

Ms Coates said the group planned to add a further two stores to the 176-strong network by the end of June.

Woolworths' hotel sales rose 19.7 per cent to $353 million, boosted by acquisitions during the first half, as well as changes to the Victorian gaming regulations which came into effect last August.

The group's home improvement division also lifted sales by 37.4 per cent, aided by the addition of four new Masters hardware stores.

Mr O'Brien said Woolworths also continued to improve its online offer, with web sales across all the group's businesses up by a total of 36 per cent.
 

View the original article here