Melbourne Property Market Update – November 15th, 2015
By Peter Sarmas on 14 Nov 2015
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Photo Source: stkildamarina.net.au
Melbourne Sprawling At Record Rates
Melbourne’s outer-west is undergoing rapid change as its former agricultural land is turned into new housing. The National Land Survey recorded almost 1,900 lot sales each calendar month during the September quarter. The figures represent a 25 percent increase on the previous cyclical high in Melbourne greenfield sales in late 2009, when first home owners incentives boosted the market.
Many Eastern States Investment Properties Are Underwater
The results are in and they make fascinating reading! Martin North reports the property investment sector contains considerable risks for banks and investors and some specific customer segments, regions and postcodes.
Makeover For Iconic St Kilda Strip
How will the proposed changes affect St. Kilda? We take a look at the City of Port Phillip’s draft streetscape proposal for St Kilda’s iconic Acland Street that would see parking spaces removed, the construction of a new tram stop and one end of the street permanently closed to traffic to create a new pocket of public space.
Alternative Finance Set To Boom In Australia
Australia is ripe for disruption from alternative and innovative forms of finance – namely peer to peer lending and crowdfunding. Read this interest report from The Australian Broker Online, shared by Martin North.
ANZ To Pay $13 Million After Failing To Accurately Apply Bonus Interest
Are you eligible for compensation? ASIC says Australia and New Zealand Banking Group (ANZ) is compensating around 200,000 customers approximately $13 million after it failed to accurately apply bonus interest to Progress Saver Accounts (PSA) for a number of years.
New Ibis And Novotel Hotels For Melbourne’s CBD
Melbourne is suffering from a shortage of hotel accommodation, according to a 2015 Deloitte report. Melbourne’s occupancy rate has and continues to push well into the mid-90% range on peak nights and will nudge 90% average occupancy by 2017. Urban Melbourne provides a full report.
