Interests associated with private investor Clement Lee paid $5.3 million for a 1,194 square metre development site at the northern tip of the CBD this week. It’s expected Mr Lee will build a residential apartment building on the 204 – 210 A’Beckett Street site.

Six weeks after reporting a $248million financial-year loss, the Valad Property Group is purchasing a prominent Port Melbourne development site for its fifth development fund.

The Chapel Street Retail Association, has thrown its support behind a controversial 38-level apartment tower at the corner of Toorak Road and Chapel Street.

According to annualised figures published by the Real Estate Institute of Victoria, the leafy eastern suburb of Kew has topped the chart as Melbourne's best performing suburb, reporting a 44.8 per cent increase in median house price to $1.495 million.