Australia Takes Centre Stage in Global Deals Spree
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,516,817 (-0.06%)       Melbourne $971,359 (-1.00%)       Brisbane $819,969 (+2.77%)       Adelaide $731,547 (+1.72%)       Perth $621,459 (+0.34%)       Hobart $751,359 (-0.46%)       Darwin $633,554 (-4.02%)       Canberra $1,005,229 (+2.77%)       National $966,406 (+0.40%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $700,089 (-0.30%)       Melbourne $470,277 (-0.26%)       Brisbane $404,718 (+2.58%)       Adelaide $332,602 (+1.44%)       Perth $348,181 (-0.09%)       Hobart $551,005 (+2.68%)       Darwin $355,689 (-3.55%)       Canberra $477,440 (+4.12%)       National $484,891 (+0.89%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 8,451 (-507)       Melbourne 12,654 (-279)       Brisbane 9,158 (+847)       Adelaide 2,765 (-40)       Perth 9,974 (+39)       Hobart 595 (+36)       Darwin 247 (-1)       Canberra 666 (-49)       National 44,510 (+46)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,895 (+164)       Melbourne 8,149 (-24)       Brisbane 2,260 (+33)       Adelaide 649 (+5)       Perth 2,489 (-21)       Hobart 101 (-3)           Canberra 430 (+13)       National 23,351 (+167)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $630 $0       Melbourne $470 $0       Brisbane $460 ($0)       Adelaide $495 (+$5)       Perth $500 ($0)       Hobart $550 $0       Darwin $600 ($0)       Canberra $700 ($0)       National $562 (+$)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $540 (+$10)       Melbourne $410 (+$2)       Brisbane $460 (+$10)       Adelaide $380 $0       Perth $440 (-$10)       Hobart $450 $0       Darwin $500 ($0)       Canberra $550 $0       National $473 (+$2)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,470 (-50)       Melbourne 7,404 (-70)       Brisbane 1,986 (-122)       Adelaide 875 (-29)       Perth 1,838 (-38)       Hobart 254 (+18)       Darwin 70 (-3)       Canberra 388 (+17)       National 18,285 (-277)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,652 (+58)       Melbourne 9,001 (-180)       Brisbane 1,567Brisbane 1,679 (-62)       Adelaide 403 (+4)       Perth 1,050 (-21)       Hobart 87 (+1)       Darwin 131 (-10)       Canberra 453 (+43)       National 23,344 (-167)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.16% (↑)      Melbourne 2.52% (↑)        Brisbane 2.92% (↓)       Adelaide 3.52% (↓)       Perth 4.18% (↓)     Hobart 3.81% (↑)      Darwin 4.92% (↑)        Canberra 3.62% (↓)       National 3.03% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND       Sydney 4.01% (↑)      Melbourne 4.53% (↑)        Brisbane 5.91% (↓)       Adelaide 5.94% (↓)       Perth 6.57% (↓)       Hobart 4.25% (↓)     Darwin 7.31% (↑)        Canberra 5.99% (↓)       National 5.07% (↓)            HOUSE RENTAL VACANCY RATES AND TREND         Sydney 1.5% (↓)       Melbourne 1.9% (↓)       Brisbane 0.6% (↓)       Adelaide 0.5% (↓)       Perth 1.0% (↓)     Hobart 0.8% (↑)        Darwin 0.9% (↓)       Canberra 0.6% (↓)     National 1.2%        National 1.2% (↓)            UNIT RENTAL VACANCY RATES AND TREND         Sydney 2.3%ey 2.4% (↓)       Melbourne 3.0% (↓)       Brisbane 1.3% (↓)       Adelaide 0.7% (↓)     Perth 1.3% (↑)        Hobart 1.2% (↓)     Darwin 1.1% (↑)        Canberra 1.6% (↓)     National 2.1%       National 2.1% (↓)            AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 31.2 (↓)       Melbourne 30.9 (↓)       Brisbane 35.7 (↓)       Adelaide 27.6 (↓)       Perth 40.5 (↓)       Hobart 30.2 (↓)       Darwin 27.1 (↓)     Canberra 28.1 (↑)        National 31.4 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 33.7 (↓)       Melbourne 32.6 (↓)       Brisbane 34.8 (↓)       Adelaide 29.5 (↓)       Perth 46.6 (↓)       Hobart 27.4 (↓)       Darwin 38.2 (↓)       Canberra 30.2 (↓)       National 34.1 (↓)           
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Australia Takes Centre Stage in Global Deals Spree

It’s boom time as local M&A’s soar.

By Mike Cherney
Thu, Aug 12, 2021Grey Clock 3 min

Australia’s biggest airport is resisting a takeover. An American private equity firm wants to buy one of the country’s main casino operators. And last week, Square Inc. agreed to buy Afterpay Ltd., the largest locally listed tech company, for $39 billion.

A deals frenzy is underway in Australia.

The volume of mergers and acquisitions in Australia is already at its highest annual level on record with nearly five months of the year to go. More than US$134 billion in pending and completed deals have been announced this year, according to data provider Dealogic. That already outpaces 2011, Australia’s previous busiest year on record, when just under $134 billion was announced for the entire year.

“We’re firing on all cylinders,” said Zac Fletcher, the co-head of investment banking in Australia for Goldman Sachs, which is advising Afterpay in the Square transaction. “It’s hard to really point to a time that’s been busier.”

The boom is driven in part by low interest rates, which make it cheaper to finance acquisitions and generally push investors into higher-risk assets for better returns. The low rates have helped send equity prices to record highs, making it more financially viable for companies to use stock to pay for deals. And corporations, many of which raised cash and sold off assets during the coronavirus pandemic, are now flush with money and looking to buy as the global economy recovers.

Those trends are at play in other markets, including the U.S., where deal making has also risen. But Australia has other factors turbocharging deal volumes: Large pension funds that bankers say are becoming more active in acquisitions; infrastructure assets with revenues offering stable long-term growth; and startups, particularly in the tech space, that are expanding globally and attracting attention from overseas acquirers. Meanwhile, concerns about environmental and social factors are also prompting some companies to review their business models and consider spin offs or acquisitions.

Australia is “suddenly on the radar again,” said Aidan Allen, head of Australia investment banking at Jarden. Aside from working on mergers and buyouts, Mr. Allen said bankers at Jarden, an investment and advisory firm, are spending half their time advising companies concerned by the prospect of hostile takeovers or unsolicited proposals given the heated environment for deals.

Australia also has a strong consumer economy that is underpinned by resource exports and went nearly three decades without a recession until the coronavirus pandemic hit. That combined with strong corporate governance and accounting practices at local businesses and a sophisticated legal system makes overseas companies comfortable investing in Australia, bankers said.

Many bankers expect deal volumes in Australia to remain elevated in the near future, although there are some longer-term risks. Concerns about global inflation could prompt central banks to raise interest rates sooner than expected and the highly contagious Delta strain of the coronavirus could derail the global economic recovery and reduce corporate appetite for large transactions.

“Things can and do change rapidly,” said Julian Longstaff, managing director of global capital markets at Commonwealth Bank of Australia, the nation’s largest bank, which arranges financing for many deals.

“If you have a big deal at valuations that work, it’s best to bring it to the market and get it done while demand is strong,” he said.

Previous deal-making booms haven’t been sustained. Cross-border investment from China drove a wave of deals in past years, but Australia’s tightening of foreign investment rules and a diplomatic spat has cooled Chinese interest recently. Even some U.S. business leaders have worried the rules make it difficult for American companies to invest, though bankers say the current boom is driven by a combination of Australian, U.S. and European acquirers.

What would be Australia’s two biggest-ever deals were unveiled in just in the past few weeks. Square’s $29 billion all-stock offer for Afterpay would be Australia’s largest on record and given the strategic rationale analysts expect it to be completed. That deal came weeks after a consortium of infrastructure investors, including Australian pension fund managers, made a nearly $17 billion dollar bid for Sydney Airport. The airport rejected the initial offer saying it was too low, though the consortium could increase its bid.

A survey released last month from accounting giant Deloitte, which has been polling Australian executives annually in recent years, found that 95% expected the number of deals their companies would pursue to increase or remain stable over the next 12 months.

“We’ve never seen that level of enthusiasm,” said Ian Turner, national head of mergers and acquisitions for Deloitte Australia.

Other big deals this year include the roughly $8 billion bid from private-equity firm Blackstone Group Inc. for Australian casino operator Crown Resorts Ltd. A Canadian pension fund, the Ontario Teachers’ Pension Plan Board, and private-equity firm KKR & Co. want to buy Spark Infrastructure Group, which owns electricity assets, for about $5.1 billion. And Oil Search Ltd., the biggest oil producer in Papua New Guinea, recently said it intends to recommend an all-stock takeover from Santos Ltd. to create an energy company worth $21.7 billion.

“It’s an incredible moment in time,” said Joe Fayyad, country head and co-head of investment banking for Bank of America in Australia. “Australia is becoming more recogn=ised for the opportunities it can provide.”

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The waterfront residence is one of Port Stephens’ finest homes.

By Kanebridge News
Fri, Aug 12, 2022 2 min

In the coastal township of Salamander Bay — nearby to Port Stephens — comes a unique home crafted to take full advantage of unbroken ocean vistas across three levels.

With one-of-a-kind flair, the stunning 5-bedroom, 3-bathroom, 3-car garage home of 52 Randall Drive Salamander Bay is nestled on a private 577sqm plot, optimised through intelligent design to take advantage of the Port Stephens landscape and lifestyle.

Within the home sees the typically coastal textures of natural oak floor and timber feature walls take hold while stone and tiled adornments add layers of luxury.

The open plan living, kitchen and dining areas incorporate a fireplace and near floor-to-ceiling glass that opens to create a seamless indoor-to-outdoor dining and entertaining space on the home’s top floor.

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Also here comes a grand outdoor spa, central to the balcony, while another outdoor entertaining area with a pizza oven is found on the middle floor.

Downstairs once again comes a second living space replete with the perfect wine cellar — cooled by the natural rock foundation of the home — offering an array of entertaining options

Of the home’s accommodation comes a private and luxurious master retreat with expansive ocean views, a walk-in wardrobe and an ensuite, here, speckled with grey terrazzo tiling and timber joinery vanities.  A further four bedrooms are found throughout the home along with two family bathrooms rounding out the offering.

Less than a five-minute walk from nearby amenities of shops, restaurants, cafes and beaches the home offers the best of the Port Stephens area.

The listing is with PRD Port Stephens’ Dane Queenan (+61 412 351 819) and Erin Sharp (+61 499 912 311) and is heading to auction; prd.com.au