Monash University demographer Dr.Bob Birrell recently stated that rapid population growth was fueling escalating prices on the city fringe.”Aspiring home owners are leapfrogging ,they are looking further afield for affordable housing and it’s setting off development booms in some country towns.” Some country residents and councils are worried that the population increase is putting stress [...]
Residential property has again outperformed all other investments during the past 10 years ,before or after tax. The annual Russell Investments and Australian Securities Exchange Long Term Investing Report found residential property was a better choice during the 10 years to December 2010,with a 10.1 per cent annual return compared with 8.4 per cent for [...]
Yarra council is considering a planned apartment block where instead of parking spaces residents will be given Myki cards. The proposal is for 12 apartments and will include a 22 bay bicycle rack,a roof top communal vegetable garden,a car share scheme but no parking spaces for residents. The energy rating will be over 7 star [...]
Buying a listed property (Section 55) – estate agent obligations Estate agents, their employees and family members are generally prohibited from purchasing any property or business which the agency is commissioned to sell. Under section 55 of the Estate Agents Act 1980, it is an offence for an estate agent or agent’s representative to obtain [...]
Described as the holiday home from Heaven,the first private residence has just been comleted on exclusive Hayman Island in the Whitsundays. Three more more luxury holiday homes have contracts underway and are all stated to be in the region of $20 million each image credit Daily Mercury
Australian Bureau of Statistics show that in the 9 months to March ,the average floor size for a freestanding house was 243.6 sq.m,down from a high of 248 sq.m two years ago. The average new Victorian house was 246.9sq.m. New flats were the smallest in a decade,with the national average 133.7 sq.m and just 126.2sq.m [...]
realestate.com.au has just upgraded its real estate search app to be compatible with the iPad, following on from domain.com.au’s iPad app launch at the end of July. The top Australian property portal came out with its iPhone app at the end of 2010, and added an Android app in April this year. At the moment, the [...]
A former solicitor has been accused in the Melbourne Magistrates Court of visiting gravesites to adopt the names of the dead to create false identities. The alleged gambling addict spent more than$13 million at casinos. Victoria police prosecution opposed bail on the grounds that 6 properties had been unwittingly sold and at least another 9 [...]
Interest rates down? Houses up? Here we go again…….shares shafted In the GFC, nearly 3 years ago, after shares dropped 40%, interest rates were cut fast. Melbourne property median dropped only 5% , but then rose strongly over the financial year 2009/2010. This time round the share drop has been far less but many, including [...]
A Russian buyer has paid $220 million for Britain’s most expensive house,300 hundred year old Park Place. The sprawling Franco-Italianate mansion.once owned by the oldest son of George II,comes with hundreds of hectares of land,historic monuments,stables,cottages,a boat house and a series of caves. The unnamed buyer bought it from developer Michael Spink The Financial Times [...]