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It costs to live in top school zones

It’s no secret it costs a premium to live within a specific school zone. But how much? New Real Estate Institute of Victoria (REIV) data shows that homes located within the catchment area for some of Melbourne’s best public secondary schools are attracting close to a $600,000 premium compared to those outside the zone. In 2016, the median house pri...
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Declining yields suggest caution in Melbourne residential market

  Researchers from the University of Melbourne have created a system to model and predict house values and rental rates at the individual property level. The comparison of these two values offers insight into rental yields in the market; an import metric that can be used by buyers, sellers, investors and renters to help make informed choices. Dr Gi...
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Subdivision fee savings for Victorians

The Victorian Urban Development Institute of Australia (UDIA) has secured a decision on the Metropolitan Planning Levy (MPL) that will mean significant savings in subdivision fees. The Minister for Planning signed off on the MPL Planning Practice Note this month, which has been welcomed by Victorian institute chief executive Danni Addison. “It’s gr...
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Queensland outlook slumps

Confidence in the Queensland economy and building industry has halted, dropping into negative territory for the first time in more than three years. Master Builders Australia’s deputy executive director Paul Bidwell says the results of the latest survey of industry conditions for the March 2016 quarter exposed the easing of recent building approval...
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Queensland renovations hit historic high

Queenslanders are renovating in record numbers, up 13.2 per cent during the past year, according to Master Builders deputy executive director Paul Bidwell. In monetary terms, Brisbane renovators spent more than a billion dollars on improving their homes from 2014 to 2015; the Sunshine Coast paid $120 million; and Rockhampton $95.9 million. Bidwell ...
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Queensland’s home building pipeline

The Housing Industry Association (HIA) believes there’s plenty of work in the home building pipeline, despite signs of new work peaking. In the three months to January, HIA’s Queensland executive director Warwick Temby says new home building approvals in Queensland are down roughly 10 per cent compared with the same period the previous year. “Activ...
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Report indicates mixed results for Qld property markets

January 30, 2016 The Urban Development Institute of Australia’s (UDIA) latest report shows property investors are shifting their focus away from regional centres and towards the southeast corner. The UDIA’s third Industry Insights Report analyses the state’s real estate industry across 15 regions. The UDIA says increased property choice and continu...
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Changing Melbourne’s ‘lanescape’

By BREECE GEVEAUX The inner west of Melbourne has experienced unprecedented growth over the past 10 years, with suburbs such as Williamstown, Yarraville and Seddon all recording significant increases in sale prices and new higher quality development. This previously ignored area of Melbourne is now home to young families and professional couples, m...
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New zones to shake up development sector

By BREECE GEVEAUX Victoria is currently undergoing its biggest shakeup to residential zoning in 30 years. New residential zones were introduced to the planning system last year and councils across the state are rushing to introduce them to their planning schemes before the July 1 deadline. Three new zones The three new residential zones will replac...
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Builders must install kit homes

Victorians wanting to construct a kit home should do their homework to ensure it is built to code. The Victorian Building Authority (VBA) has advised all kit home suppliers that they must be a registered builder if they also install the homes they sell. This reminder comes after a magistrate found a supplier and its director guilty of building a ki...
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