New figures from SQM Research show that while the national vacancy rate held steady at 2.4% in February, vacancy rates in several capital cities have seen a decline.
Australian property prices continued their surge higher in March despite the threat of rising interest rates and recent rampant appreciation. Preliminary numbers from CoreLogic show an approximate 1.4 per cent advance in capital city dwelling values in the month, suggesting the housing affordability debate could step up a notch when the final numbers are released on Monday.
Home prices in Australia's biggest cities have jumped 3.7 per cent since the start of the year with the proportion of settled auctions on the rise as well.
Laura Blue isn't surprised to hear that hundreds of people are making the move to Melbourne from Sydney each week. The 27-year-old publicist jumped ship for a job in May last year and says many of her friends have expressed a desire to follow.
Box Hill developments to push CBD to new heights, with at least seven sites approved for 20 storeys or more, developers are not holding back. While no building in the suburb will come close to the height of skyscrapers such as Eureka Tower and the Rialto, Box Hill will be home to some of the tallest buildings outside of the city.
Melbourne is more likely to face an under-supply of new apartments rather than an over-supply due to its rapidly growing population, according to an expert. Melbourne is the fastest growing city in Australia and projected to be the nation’s first city to reach a population of eight million.
