Victorian Government announced the updated Victorian $12 billion Transport Plan. The plan includes a metropolitan train tunnel as well as a regional rail link, road tunnel and truck action plan for the gridlocked western suburbs. Shocked residents in areas of Melbourne’s west were left to guessing whether their homes would be snatched in the State Government’s [...] [...more]
According to the Real Estate Institute of Australia’s March Housing Affordability Report, Victorian rental houses and apartments are more affordable than most. The affordability of rents is determined by comparing the proportion of family income needed to meet median rental payments. In this year’s March quarter, 22.6 per cent of the average family income was required [...] [...more]
More and more building applications for apartment developments as builders respond to strong demand for affordable housing in the overheated property market. Melbourne homes now costing more than $1 million, property developers are rushing to bring multi-unit projects to the market in inner and outer suburbs at prices competitive with the traditional detached house and land. The [...] [...more]
VICTORIA is the only bright light in an otherwise ailing residential construction industry, accounting for more than twice the private housing starts of any other state. The latest dwelling start figures show New South Wales had the second-worst March quarter in the 40 years records have been kept. Work started on just 3672 private houses [...] [...more]
Melbourne property Market was showing a lot of strength early in the 2010. It was clear that this was not going to be just another year. Rates were at all-time low levels and would-be buyers were back in the market in force, swamping open-for-inspections and snapping up all the properties coming up on to the [...] [...more]
Housing markets outside the capital cities record no growth in 2010. Key RP Data –Rismark Index Statistics National citydwelling values up 0.2% (0.3% s.a.) in month of April National citydwelling values up 2.4% (1.9% s.a.)in quarter National citydwelling values up 11.9% over last 12 months National citymedian dwelling priceis $460,000 National rest of statehouse values down -0.2% in April (-0.1% s.a.) National [...] [...more]
This is the first article in Real Estate Review from Chilli Realty – “Red Hot Service” in Real Estate. Chilli Realty is a smaller boutique style of Real Estate agency with a head office in Fairfield and we are selling property by Auction and Private Sale, in all suburbs of Melbourne. (www.chillirealty.com.au) We work with both buyers [...] [...more]
Enzo Raimondo with his Property Update – Victoria [...more]
Consumer Affairs Victoria (CAV) has announced that it will start publishing property sales data on its website in order to help keep prospective buyers and sellers informed. The information published will include: * data sources for property prices; * calculators that can make estimates of the prices of individual properties based on comparable sales; * guides on to [...] [...more]
VMIA reaches agreement with QBE to deliver domestic building insurance* The Victorian Managed Insurance Authority (VMIA) has entered into an agreement with QBE Insurance (Australia) Limited, QBE, under which the VMIA will provide domestic building insurance to builders and owner builders in Victoria. The agreement follows the recent decision by the Victorian Government to transition [...] [...more]
