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This article was first published By Marc Howe on 7th Sept 2016 via sourceable.net   The Melbourne Metro Rail project is paving the way for a three decade urban renewal project in the region to the immediate north of the established CBD.   The Victorian government plans to invest $7 billion on the transformation of a large part of North Melbourne into a thriving commercial and residential precinct that will capitalise upon the improved transit opportunities created by the Metro Rail project.   The draft plan for the Arden Urban Renewal Precinct just released by the Victorian...

This article was first published by Christina Zhou on 4th Sept 2016 via domian.com.au | Image: Toorak's median house price has smashed through $4 million for the first time. Photo: Supplied       Property prices is a hot topic at dinner parties, and in Melbourne’s most exclusive enclave, the discussion of a standard address would now circle a price tag of $4 million.   Toorak’s median house price has jumped 24.3 per cent over the past year to a record of $4,227,500, Domain Group data shows.   It comes as new data reveals Toorak home owners are the city’s keenest renovators,...

This article was first published by MAGGIE LU YUEYANG on September 2, 2016 via theaustralian.com.au | Image: Blueprint for new Arden precinct - Source: afr.com.au   The Victorian government has unveiled a $7 billion plan to revive the Arden precinct in North Melbourne over 30 years, boosting housing supply around the new Arden metro station in an area currently in industrial use.   The 56ha between Macaulay Road, Dryburgh Street and the Upfield rail line, will be developed into a new commercial and residential precinct to house up to 15,000 people, according to the state...

This article was first published by Su-Lin Tan on 1st Sept 2016 via afr.com.au | Image: Year on year, Sydney price growth of 9.4 per cent, has surpassed 9 per cent, the higher end of price growths predicted by experts earlier on in the year. Melbourne is on 9.1 per cent. Supplied Sydney and Melbourne house prices have surged again in August, driving housing affordability in the two cities to an all-time low.   Sydney prices were up 1.5 per cent, while Melbourne prices grew 1.4 per cent over the month. Overall, the combined capital market house prices rose 1.1 per cent, Corelogic...

This article was first published by Chris Tolhurst via domain.com.au on 27 Aug 2016 | Image: McGrath auctioneer Mike Divito in action at 41 Johnson St, Northcote, on Saturday. Photo: Arsineh Houspian   It was a day of ups and downs for sellers on Saturday as Melbourne buyers were offered their widest choice of properties in two months.   Listings increased in most suburbs, and the market responded positively, with the Domain Group reporting a clearance rate of 78 per cent from 725 reported auctions.   This was on a par with the previous week’s 77.7 per cent. The results of a...

This article was first published by Stephen Nicholls via domain.com.au on 27 Aug 2016 | Image: Auctioneer David Gray in action at 80 William Street Paddington. Photo: Katherine Griffiths   A first homebuyer in his 20s nabbed his first property in inner-city Paddington, paying $1.7 million – $145,000 over the reserve – for a two-bedroom terrace on Saturday.   It was just one of 574 Sydney auctions, with low listing numbers and low interest rates fuelling the strong market. With 408 results in by Saturday evening, Domain Group put the clearance rate at 80.7 per cent. “Sydney’s spring...

This article was first published by Anthony Keane via News Corp Australia Network on 26th Aug 2016 | Image: Getting into the property market in any capital city in Australia is not easy but it will be highly rewarding over time.   HOUSE prices are still effectively doubling every decade in Australia’s capital cities for owners prepared to hold for the long term.   An analysis by News Corp Australia of price data going back 36 years shows that the major capital cities have shown strong similarities in median house price growth and all have increased at least 1100 per cent since...

This article was first published by Christopher Joye in afr.com.au on Aug 26 2016 | Image: Boom-time auction clearance rates exceed 80 per cent on the east coast Christopher Pearce   Australia is about to get a new house price record surpassing James Packer's $70 million. Can't say when, but it's coming. Yet if you listened to the Reserve Bank of Australia rationalising its August rate cut, you would have been led to believe that "the most recent data suggest housing prices declined in most capital cities in July".   That's nonsense: the best available dwelling price data...

This article was first published by Charlotte Durut, News Corp Australia Network, News Corp Australia Network August 23, 2016 | Image: This property, 14 Mummery Street in Mt Waverley sold for $1.605 million this year. Sourced: HeraldSun.com.au   MONASH has confirmed its reputation for being home to blue chip real estate with four suburbs recording a more than 10 per cent increase in value every year for a decade.   The latest new CoreLogic figures reveal Monash boasts four of Melbourne’s top 10 property performers over the past decade, with median house prices in some suburbs...