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Commercial property sales jump 432%

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Australian Broker | 29 Jun 2011, 02:45 AM Agree 0
Commercial property transactions have jumped 432% in the second quarter according to CB Richard Ellis
  • sidbroker | 29 Jun 2011, 02:50 PM Agree 0
    Is the reason their is increased activity really a sign or GFC2 or just very difficult times for landlords to get tennants and so they have to sell and possibly at way less than they paid for the property. A person i met socially has just sold his commercial unit in Sydney at $50,000 less than he paid for it two years ago. The next problem he is facing is that the purchaser cannot get the finance! Is NCCP a major factor in the downturn. I think it is! Business people are finding it harder to get finance now and especially with low doc loans being near impossible to get for most. Take a look at the circle with the above example. 1. Seller wants to sell at a loss and can`t. 2. Buyer wants to buy and can`t get the finance. 3.Broker can`t get the purchasre the finance. 4. lender can`t do the loan for the broker, buyer and seller. Off course we have Mr. Swan and the Labor Govt. steering the ship. Are we headed for the rocks.The next election is 18 months away and will that be to late. I hope not!!
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