Monday, May 9, 2016

Update: North Shore spot sales

In last week's article, we discussed recent 'spot sales' of Public Housing properties on Sydney's well-heeled North Shore, and its significance for the Social Housing portfolio as a whole. 

Above: Have spot sales been put on hold for Communities Plus?

We have since received some indication that LAHC recently paused intended spot sales in Northern Sydney. It has reportedly taken this decision in order to provide itself with more vacant dwellings for the ongoing relocation of around 400 tenants from the Ivanhoe Estate - part of the large 'Communities Plus' initiative. If accurate, it would not surprise if the reportedly cancelled sale of a 12-unit complex on Upper Spit Road, Mosman was in fact a deferral of sale until after those relocations are complete. 

We understand that LAHC is also planning sales of freestanding cottages in the suburb of Turramurra, in a similar manner to recent sales in Lane Cove and Asquith.

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