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Acacia Ridge currently occupied by Woolworths for $24.3 million at an initial yield of 7.60%. Yields within the Brisbane industrial market have remained steady between 7.00% and 7.75% for prime property throughout most of 2006 however yields in the secondary market continue to firm as the pressure of rental growth, the upward price movement of land and construction costs continues to impact the broader market. The laws which are made for performing the property related processes are compulsory to maintain and perform successfully. Investment demand for prime industrial property remained strong in 2006, resulting in a tightening of yields to their current (December quarter) range of 6.75% to 8.00% with an average of 7.25%.

Holding stamp duty rates will come as a relief to our industry at what are challenging times. We have been mounting a campaign to illustrate that higher rates of stamp duty hurt some of the Government's key objectives of pension provision, regeneration and encouraging enterprise.

Investment during 2006 in terms of value is in line with previous years, with 2005 results of $676 million in 130 sales. With sales volumes similar yet transaction numbers close to 25% lower, there is a lack of investment grade stock available to the market and with yields tighter, capital values and land values of industrial property continues to grow.

Notably this year, the value of transactions in the Southern and Western Regions were at 36.7% and 32.2% respectively, We welcome the fact that the Government appears to be listening and through its actions has generally been supportive of our industry today. Property conveyancer has to improve its knowledge in extreme ways to handle the complex property conveyancing case. albeit still at a lesser rate than previous years as a result of three interest rate increases (each +0.25%) during the year. "Looking forward, given this uncertainty in interest rates, their share of investment product is likely to further slow.”

Landmark White is currently monitoring 1.47 million sq m of new industrial supply in 151 projects in various stages of planning due for completion over the next three years. Currently, there is approximately 22% of this stock under construction with likely completion over the next eighteen months, the greatest amount of new stock to enter the market over this time is located in Melbourne’s West (320,500 sq m) given the availability and lower cost of land in this location.

With approximately 410,000 sq m with DA Approval, it is forecast that there will be over 850,000 sq m of new industrial stock added to the market by the end of the 2007 calendar year.Of this space 31.4% will be located in the West, followed by the South region accounting for 29.7% or 252,500 sq m.