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Melbourne’s property market stabilises as outer suburbs drive growth - REIV

For the first time since the June 2021 quarter, houses and units across inner, middle, and outer Melbourne all recorded growth according to the Real Estate Institute of Victoria’s quarterly median data for September 2023.

National

The Economy

John McGrath – Market will strengthen in 2024

According to John McGrath, Chief Executive Officer of McGrath Estate Agents, property investment remains the most reliable path to wealth creation and a comfortable retirement in Australia today.

Queensland (Qld)Brisbane

Featured Property

1906 Sherwood Queenslander for sale on 2,738sqm - Place

56 Lilly Street Sherwood for sale by Ann-Karyn Fraser and Sarah Hackett of Place New Farm is a luxurious sanctuary offering a piece of Sherwood’s history.

Victoria (Vic.)Melbourne

Featured Property

Matteo by Trinity, The House of Curves, in Toorak for sale - RT Edgar

4 Matthews Court Toorak for sale by Mark Wridgway and Sarah Case of RT Edgar offers luxury living within breathtaking bespoke sculptural architecture.

Victoria (Vic.)

Featured Property

Beloved clifftop Sorrento for sale overlooking Port Philip Bay - Kay & Burton

'Blue Bay' -3520 Point Nepean Road Sorrento for sale by Liz Jensen and Gerald Delany of Kay & Burton was designed to entertain children and grandchildren together in comfort by the sea.

National

The Economy

Auction Market Preview - CoreLogic

Scheduled auction activity across the combined capitals is expected to ease slightly this week, with 2,371 homes set for auction, according to CoreLogic.

Western Australia (WA)Perth

The Economy

Perth’s vacancy rate tightens - REIWA

Perth’s vacancy rate dropped to 0.7 per cent in September, a decline of 0.1 percentage points from August, according to REIWA.

National

The Economy

Cost growth stabilising within residential building sector - CoreLogic

CoreLogic’s Cordell Construction Cost Index (CCCI), which tracks the cost to build a typical new dwelling, returned a quarterly growth rate of 0.5% for the September quarter, the smallest lift since the three months to June 2019 and half the pre-COVID decade average of 1.0% per quarter.

Victoria (Vic.)Melbourne

People

Jacob Caine elected new REIV President

Highly regarded real estate professional Jacob Caine was elected as President of the Real Estate Institute of Victoria (REIV) for the next 12 months.

National

The Economy

CBRE recently went live with the Q4 edition of Talking Property: The House View – CBRE’s quarterly podcast

CBRE Pacific CEO Phil Rowland and Pacific Head of Research Sameer Chopra discuss the outlook, opportunities and challenges in the real estate sector.

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News Roundup

https://www.thehotelconversation.com.au/properties/2019/10/09/bathurst-goldfields-sold-mt-panorama-resort-brokers-australia/1570585101

Bathurst Goldfields sold in Mt Panorama by Resort Brokers Australia

Mt Panorama's Bathurst Goldfields accommodation and event centre has sold through Ian Crooks, Russell Rogers and Nathan Eades from Resort Brokers Australia.

The Hotel Conversation

https://www.commo.com.au/news/2019/10/09/prime-office-building-hawthorn-sold-8350000-amid-heated-buyer-contest/1570599326

Prime office building in Hawthorn sold for $8,350,000 amid heated buyer contest

Rare and exceptional investment opportunity snapped up within one of Melbourne’s most coveted inner suburbs.

COMMO

https://www.thebusinessconversation.com.au/2019/10/09/leading-retailers-partner-latitudepay-platform-interest-free-payments/1570585029

Leading retailers partner with LatitudePay platform for interest free payments

Announcing eight new partnerships with leading retailers, LatitudePay is enabling millions of Australian customers to make purchases across 10 payments.

The Business Conversation

https://www.thehotelconversation.com.au/2019/10/08/marriott-international-hosts-destination-pacific-islands-events-sydney-and-melbourne

Marriott International hosts Destination Pacific Islands events in Sydney and Melbourne

Marriott International has hosted its third annual Destination Pacific Islands events, with travel industry professionals and regional representatives gathering at Sheraton Grand Sydney Hyde Park and Four Points by Sheraton Melbourne Docklands.

The Hotel Conversation

https://www.commo.com.au/2019/10/08/348-edward-street-brisbanes-cbd-sold-centuria-capital-group-86-million/1570497092

348 Edward Street in Brisbane's CBD sold to Centuria Capital Group for $86 million

The purchase will be used to generate a new fund for the company’s unlisted division.

COMMO

https://www.theaseandeveloper.com/news/2019/10/08/crown-group-designs-inter-generational-living-concept-sydney%E2%80%99s-eastern-residents

Crown Group designs inter-generational living concept for Sydney’s eastern residents

Eastlakes development includes plans for medical centre, childcare, sophisticated retail precinct and co-working space.

The ASEAN Developer

https://www.thehotelconversation.com.au/news/2019/10/04/boutique-melbourne-hotel-zagames-house-going-fur-friendly/1570147932

Boutique Melbourne hotel Zagame's House is going fur-friendly!

The newly opened Melbourne boutique hotel Zagame's House has announced it's going pet-friendly - allowing people to bring their pet to stay with them in the hotel and providing bespoke pet pampering services.

The Hotel Conversation

https://www.commo.com.au/news/2019/10/07/knight-frank-gold-coast-team-participate-streetsleep-2019/1570411844

Knight Frank Gold Coast team to participate in StreetSleep 2019

The annual Property Industry Foundation (PIF) event aims to help raise money for homeless youth.

COMMO