Quarterly sales statistics – overall observations The median price of houses in Victoria decreased by 5.7 per cent from $631,000 in the December 2017 quarter to $595,000 in the March 2018 quarter, having increased by 7.7 per cent in the previous quarter (September 2017 to December 2017). For the 12 months from March 2017 to…
The Federal Government is likely to cut Australia’s permanent migration cap, in a move it says will ease congestion in the major cities. Key points: Prime Minister forecasts a 30,000 cut to annual permanent migration cap Government concedes cutting migration will take a financial hit to the budget Doubts raised that major city congestion will…
Sydney’s new apartment market hit a brick wall in the September quarter as buyers abandoned the NSW capital for more affordable opportunities in Melbourne and Brisbane, according to property research consultancy Urbis. Urbis’ latest Apartment Essentials report found an 88 per cent slump in Sydney off-the-plan sales over the quarter compared with the same period last year…
The RBA says it’s concerned about the risk to property developers as a result of tighter lending conditions. In his speech, Assessing the Effects of Housing Lending Policy Measures, The Reserve Bank’s Deputy Governor Guy Debelle said the tightening in lending to developers seemed a higher risk to the economic outlook than the direct effect…
National Australia Bank chief executive Andrew Thorburn has copped a $2.1 million pay cut as a result of the fallout and potential criminal misconduct emerging from the financial services royal commission.The penalty comes as chief executives including Mr Thorburn prepare to face an intense grilling at the royal commission, which begins its final round of…
In case you missed it: when Melbourne Airport held its stakeholder event for 2018 earlier in October, not only did it outline its future vision for its terminals, but it also provided a lot more context to the AirRail Melbourne proposal. 37 million passengers passed through the airport’s terminals in the most recent financial…
Introduction Open space principles and aims This strategy has adopted the Vision from ‘Our Boroondara – Our City, Our Future’:A vibrant, livable city which fosters the cultural, environmental, economic and personal wellbeing of our community. The following open space principles and aims meet the municipal vision. Please note these principles are listed in alphabetical order,…
Australians think it is the best time to buy a house since March 2015, led by NSW residents who seem increasingly keen to take advantage of falling prices, according to Westpac economists. Key points: Nearly 12pc more people think now is a good time to buy a house Despite this, the ‘time to buy a…
Firstly, we pointed out that in Melbourne, the 5–10% drop we’ve seen so far followed a growth cycle that added 60–100% to property values overall. Many Australians owned property for the entire duration of this cycle and therefore have enjoyed the full benefit. Next, we addressed the sensational and erroneous theory being bandied about by some…
Melbourne has an integrated transport system that connects people to jobs and services and goods to market Melbourne’s transport system needs the capacity to cope with an additional 10.4 million trips26 a day by 2050—up from the current figure of 12.5 million trips a day. To achieve that, Melbourne needs a huge, well planned investment…