HWW Limited may be seeking a buyer for its 50 per cent stake in
Australian Property Monitors. Fairfax owns the remainder of APM, while
HWW manages the property information company.
HWW rejected the theme of this newsletter’s inquiries yesterday that
its stake in APM was “on the market” or that the company was seeking a
buyer, and said if it had anything to disclose it would announce it to
However, intermediaries have definitely, and recently, shopped the stake to potential purchasers.
APM is supplier of property price information to financial institutions
and markets its “home price guides” in conjunction with Fairfax
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APM has recorded minor losses, or at best marginal profits, for HWW in
recent years. The company listed the carrying value of HWW at $8000.
The company’s 2005 annual report said APM “experienced an unusually
turbulent year” in 2005, particularly in the first half of the year.
APM recorded monthly profits during the second half of the financial
One issue is the row over the reliability of real estate property monitoring. Age
columnist Alan Kohler contends that APM publishes “the best data,”
collected from contract sales details reported to state land titles
APM data used to turn up in metropolitan daily newspapers each Sunday
and Monday, though even Fairfax replaced APM weekend sales data with
alternative, and perhaps less reliable, sales data sourced from various
Real Estate Institutes.