Australia’s oldest commercial property website, commercialrealestate.com.au, has re-launched its new look website.
CRE’s website is part of Fairfax Digital Online Real Estate’s empire and includes other real estate websites such as domain.com.au and domaincommercial.com.au, which Australian Property Journal is an official news partner.
CRE’s website re-launch comes less than six months after Fairfax Media’s acquisition of the business. It is the first re-launch for CRE in four years.
Fairfax Digital Online Real Estate’s general manager Sam Plowman said the new look website was launched in response to strong growth in the commercial property market.
“Despite the rise in interest rates, the commercial property market is booming.
“Because of rising interest rates and a weak residential market, small investors are looking at opportunities in the commercial real estate market. This has resulted in firm yields, high prices and strong demand which has created shortage issues for some tenants. The re-launch of the CRE website continues Fairfax Digital’s aggressive push in the online real estate market. This is another step along the path of ensuring that CRE best meets the needs of users and agents,” he added.
According to Australian Property Monitors, the Australian commercial property market was worth $45 billion in 2005.
“In the year to June 2006, Property Council of Australia and Investment Property Databank reports that commercial property generated returns of 15.26 per cent, its best performance since 1989,” Plowman said.
Plowman added that CRE led the way in providing a way for time-poor users to simplify their search for property.
“The ‘List Your Requirements’ feature is a favourite among property seekers, allowing them to email their requirements so agents can contact them when relevant properties are available.
“CRE services agents efficiently through the highly effective ‘Forthcoming Auctions Timeline’ and resumes its simple, easily referenced list of ‘Investment Properties’ that has proven successful for investors sourcing the latest available property,” he concluded.
By Kathryn O’Meara
