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Victoria residential property

This Month

The Toorak development will include a ground floor restaurant.

James Packer-backed $400m Toorak project gets the green light

Developer Orchard Piper has won an appeal against a council decision regarding its eight-level project on the site of a former Mercedes-Benz dealership.

  • Larry Schlesinger
The Wellington Health precinct being developed by APH and financed by MaxCap.

Investor letters reveal private credit exposure to collapsed developer

APH Holding fell into administration last week, owing several lenders significant sums. Correspondence shows how short one lender, MaxCap, is on a project.

  • Primrose Riordan
Bargain hunters could find heavily discounted houses in some of the most prestigious coastal suburbs as prices fall further.

The best beachside suburbs to grab a bargain before the year ends

As buyer demand dries out, sellers in these sought-after coastal suburbs are becoming more motivated to sell.

  • Nila Sweeney

November

Mirvac GM of Development in Victoria Elyssa Anderson and Development CEO Stuart Penklis at the construction site of Trielle, a 45-level, all-electric residential tower at the company’s Yarra’s Edge precinct on Monday.

Mirvac taps stamp duty exemptions to sell luxury Melbourne apartments

News of the sales – and strong demand for a Sydney development with no tax break – raise questions about who should benefit from stamp duty cuts.

  • Michael Bleby
Go slow: developer Pace’s 313-unit project in Melbourne’s Coburg had 72 unsold apartments when it was completed in September. 

Why new apartments don’t sell and old ones do

A combination of high interest rates and weaker prices make established housing stock more attractive to buyers than apartments built as costs soared.

  • Michael Bleby
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Patricia Curtis-Kline inside her 20th floor apartment at Melbourne’s Royal Domain Tower.

Metricon widow puts $5m luxury pad on market

Patricia Curtis-Kline, whose husband George founded what became Australia’s largest home-builder, is preparing to leave her adopted home.

  • Michael Bleby

More households making ‘difficult’ decision to sell homes, RBA warns

Real estate agents say financial stress – and divorce – are prompting a surge in distressed listings, particularly in Victoria and parts of regional NSW.

  • Michael Bleby
The five-bedroom house in Melbourne’s Toorak sold below the guide of $20 million to $22 million.

Buyer of $19m mansion delays – then loses deal to faster rival

Consumers are right to be cautious about newly built properties. But the thoroughness of one potential purchaser was unnecessary for another.

  • Michael Bleby
An auction in Melbourne on Saturday. Sales have been more difficult recently, agents say.

Listings soar in Sydney and Melbourne as homeowners run down savings

Spring is the traditional selling season. But a flood of properties hitting the market is being driven by persistently high interest rates, economists warn.

  • Michael Bleby and Joshua Peach
Melbourne-based investor Patrick Van plans to ramp up his property portfolio ahead of the expected upturn in the city’s housing market.

Why Melbourne’s housing market is primed to outperform all capitals

The city’s improved affordability means it could outperform its peers in the next recovery, experts say.

  • Nila Sweeney
Just 10 metres wide: The Ferrars & York apartment building occupies a 610-square-metre site between a tram line and a main road in South Melbourne.

How to build housing on urban wasteland

An apartment building sandwiched between a road and railway line has set a new standard for what can be done with once-derelict sites.

  • Michael Bleby
Auction clearance rates dipped again this weekl

House prices under pressure as clearance rate dips to lowest this year

Just 63 per cent of homes sold under the hammer this past week, according to CoreLogic, while Domain recorded an even lower figure of 57 per cent.

  • Larry Schlesinger
This Toorak home at 12 St Georges Road comes with a range of health and wellness features and an indicative price tag of $40 million.

Toorak’s top 10: $500m of mansions on offer as listings surge

The three big Ds – death, divorce and downsizing – plus land tax bills are behind an unprecedented surge in mansions on the market in Melbourne’s Toorak.

  • Larry Schlesinger and Bonnie Campbell
Down 0.1 per cent in October: But Sydney is only in for a shallow decline, CoreLogic says.

Sydney house prices fall for first time in almost two years

The slowdown has been a long time coming but strong demand – and lower possible borrowing costs – mean the decline will be shallow, CoreLogic says.

  • Michael Bleby

October

ABN Group managing Director Dale Alcock, left, and CEO Andrew Roberts this week.

Second biggest builder says Victoria will pull its FY25 starts down

Soaring demand and pricing in builder ABN Group’s home market of WA will keep pushing earnings higher, however.

  • Michael Bleby
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Auctioneer Oliver Burton selling a unit in Waltham Street, Coogee, on Saturday.

Sydney tipped for worst week of auction results since 2022

Asking prices for Sydney homes are expected to slump after experts tipped the city’s final weekly auction clearances to be at just 40 per cent.

  • Campbell Kwan
AFR Building designer Ben Wardle says Merribek council’s guaranteed 6-week approval process for qualifying developments will speed up housing delivery. He got his first permit in just 3 1/2 weeks Type of photo: Ben outside the under-construction project of two townhouses in Melbourne’s Coburg. WEdnesday 16th October 2024 Melbourne Photo Eamon Gallagher

Six weeks for a housing approval? This council guarantees it

There are many reasons housing projects can be delayed, but one Melbourne municipality is doing what it can to prevent them.

  • Michael Bleby
Serial renovators Sharon and Chris Reay at their newly purchased home. They say they were able to buy their home from cutting costs via renovations.

How this young family got $200,000 off their dream home

Sharon and Chris Reay had struggled to sell their recently renovated home as prices declined, but that same market also let them buy in their dream locale.

  • Campbell Kwan
New homes in Wyndham Vale, on Melbourne’s fringe.

Name and shame plan to speed housing approvals won’t work, states say

Victoria, Queensland, WA and SA have rejected the idea of publishing the housing approval records of local authorities.

  • Michael Bleby, Tom Rabe and James Hall

Aged care mogul asking $55m for Toorak temple of opulence

Likened to the grand homes of Europe, the lavish property has hit the market in one of Melbourne’s most expensive listings of 2024.

  • Bonnie Campbell

Original URL: https://www.afr.com/topic/victoria-residential-property-hw2