The latest Melbourne property development News
Victoria’s 7-day lockdown extension will derail hundreds of auctions originally scheduled for this weekend, while also affecting Melbourne’s traditional spring property market surge. Governor Daniel Andrews announced this morning that the restrictions will continue until 11:59 pm on Tuesday, July 27. According to figures from the Real Estate Association of Victoria, 293 auctions were postponed and 149 withdrawn due to the blockade last weekend. The institute’s forward-looking forecasts indicate that as many as 1,130 houses will be auctioned this week. Adam Docking, vice president of REIV, said that he expects a large number of sales to be postponed, “This will bring things to a halt because we will not be prepared and will not believe that we have reached sufficient saturation in a week or two. Mr Docking said. “If there are a lot of online auctions this weekend, I would be very surprised.
The new property development project of Box Hill South provides puts the family first, this project provides multi-generational living, family offices and ample green space. I think Box Hill South has many advantages,” Flaherty said. There are many job opportunities. They have medical and transportation services.”A major drawcard is proximity to Box Hill Central — considered to be Melbourne’s The second Chinatown has more than a dozen delicious restaurants and many shops. Box Hill High School and Deakin University are also nearby, with easy access to suburban trains, buses and trams. Another attraction is potential growth; Box Hill South has done a good job with soaring house prices.REA data shows that the average house price in April 2021 will reach $1.25 million and 850,000 per unit. The annual change in the average price over the past 10 years is 4.8% of houses and 4.6% of the unit is pretty good,” Flaherty explained. Although the average house price in the area has remained the same over the past 12 months, the price of apartments (including townhouses) in the area has skyrocketed as high as a 13.7% increase year on year to April. Flaherty said that once the Australian border opens and international students return, it will be a must-see suburb.
Australia property development News
Finder research shows that nearly one in seven Australians is considering buying a property in the next six months. A national survey of 1,015 respondents found that 7% of respondents wanted to purchase investment real estate. Another 7% of respondents want to own a house. Men are twice as likely to enter the market to buy new houses or invest in them. New South Wales residents with the biggest house price increase in the past year are most likely to consider buying: Nearly one-fifth of residents plan to buy within the next six months. More than half of potential buyers in New South Wales stated that they wanted investment, not real estate. About 14% of Victorians said they would buy within six months, compared with 13% in South Australia. Finder research shows that 27% of Australians will buy a property in the next six months if they can afford it. Housing experts have previously warned that the closure of houses in Melbourne and Sydney has not caused any signs of disappointment from home buyers.
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