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Victoria needs a big-picture transport plan that isn’t about winners v losers

Crystal Legacy, RMIT University and Ian Woodcock, RMIT UniversityAustralian cities are inherently diverse places, but that diversity can lead to conflict between different values about what cities should and can be. Our series, Conflict in the City, brings together urban researchers to examine some of these tensions and consider how cities are gove...
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Population of Victoria hits 6 million

Victoria’s population has hit 6 million, according to figures released by the Australian Bureau of Statistics (ABS) today.ABS acting director of demography Phil Browning says that in the year ending March 31, 2016, Victoria grew by 1.9 per cent, adding an extra 114,900 people to the population.“This is the fastest population growth for Victoria sin...
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Global Cities report reveals Sydney and Melbourne flying high

Global property consultancy Knight Frank has launched its Global Cities: The 2017 Report, examining the market performance of 31 cities across the world in light of three major trends shaping the times:Negative interest rates have reduced investors’ expectations on what constitutes an acceptable return, which is drawing capital towards real estate....
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Warning to check claims, as fake builder fined $20,000

 Proof if it were needed that everyone should check the credentials of the building practitioners they employ, as the Victorian Building Authority (VBA) successfully prosecutes well-known home builder Mentor Gormani, director of Gormani Homes Pty Ltd.The director of the now deregistered building company was prosecuted by the VBA in the Dandenong Ma...
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Top 10 most affordable suburbs

If you’re looking for bang for your buck, new quarterly data from the Real Estate Institute of Victoria (REIV) shows there’s opportunity for Melbourne buyers to get a foothold on the property ladder for a fraction of the city’s median house price.REIV CEO Geoff White says record low interest rates and a strong market is driving price growth in area...
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A solid Melbourne market

There’s been solid price growth for the June quarter in Melbourne according to just-released data.During this time Melbourne’s median house price increased 3.6 per cent to a record high $725,000 – the largest price growth since September 2015.Real Estate Institute of Victoria (REIV) chief executive officer Geoff White says the latest quarterly figu...
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Looking for greater value?

If you’re looking for first class amenities and strong capital growth prospects, but without having to cop the hefty price tag, then bridesmaid suburbs may be exactly what you’re after, according to the Real Estate Institute of Victoria (REIV).Data from the REIV shows there is a significant difference in the median house price of multiple adjacent ...
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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 price...
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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 Gideo...
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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 grat...
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Big price fall predicted for Melbourne

Property price falls are forecast in Melbourne from 2017 due to massive car manufacturing job losses and rampant overbuilding of houses and apartments, according to new research.The study, by national property market researcher Propertyology, found that Melbourne’s on the cusp of a market downturn.The report says the slump will be caused by the unt...
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Everyone’s heading to Victoria…

Victoria is the most popular destination in the country for people moving from other states. It’s also Australia’s fastest growing state at 1.7 per cent, compared to an overall Australian growth rate of 1.3 per cent, according to figures released by the Australian Bureau of Statistics (ABS) today.ABS director of demography Beidar Cho says that over...
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Permits proving more popular

There’s been a strong resurgence in the popularity of permit-approved sites in Victoria, with more than $145 million worth of permitted development site sales transacting since November 2015 according to CBRE.The trend is being underpinned by two key factors – the new state government’s attitude towards planning and the strength of the residential ...
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Five Melbourne suburbs to watch for renovation potential

Richmond – housesRichmond is a suburb just 3.8 kilometres southeast of the Melbourne CBD.Its popularity arises from its proximity and easy access to the CBD, as well as the well-built, historic homes.The suburb is amply supplied with light rail and train services. Houses here are typically small, historic homes of federation or art deco build and h...
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Bendigo and Central Victoria property market scorecard

By SIMON PRESSLEYHere at Propertyology we conducted a study to compare the historical property market performance of each of Australia’s 550 local government authorities (LGAs) between 2000 and 2014. Given that some property markets have higher rates of growth and others have higher rental yields, we calculated the “total return” (average annual gr...
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Five Melbourne suburbs to watch

Glen Iris (houses)Glen Iris is a large, leafy, residential suburb located 12.6kilometres southeast of the Melbourne CBD. As well as being in close proximity to the Melbourne CBD, Glen Iris is well served by transport. There are two stations in the west of the suburb, Glen Iris and Gardiner, on the Glen Waverley Line. In the east of the suburb, Burw...
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Victoria’s property market scorecard

By SIMON PRESSLEY$224,387 – that was the price of a typical house in greater Melbourne at the start of this century. Scary, isn’t it? So, how has Melbourne’s property market performed since then and which have been Victoria’s best performers over the last 15 years?With a population of 4,085,849, greater Melbourne is fast catching up to Sydney. The ...
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Changing Melbourne’s ‘lanescape’

By BREECE GEVEAUXThe 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, mak...
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New zones to shake up development sector

By BREECE GEVEAUXVictoria 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 zonesThe three new residential zones will replace th...
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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 kit...
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