Melbourne

London-based "bar tsar" Jonathan Downey will open the doors of his sexy, sultry Match Bar this weekend, after a costly, lengthy and opulent fit-out.

Professional services firm GHD has delivered a proposal for an emission-free office building, to be developed on top of the busy Richmond train station, in Melbourne's inner-east.

Industry experts unanimously agree the recent surge in real estate values in Melbourne is unsustainable.

Residential rental vacancy rates have averaged an all-time low of 1.9% across Australia for the past two and a half years, according to data published today in the Mortgage Choice/REIA Real Estate Market Facts report, September quarter edition.

This compares with a 20-year average of 3.6%. The industry benchmarks anything below a 3.0% vacancy rate as indicative of an undersupply of rental accommodation.

Retail investors are spoilt for choice at the moment, with another portfolio of shops about to be put to the market, this time in Swanston Street.

The contentious Melbourne 2030 planning controls continue to divide the community. On the one hand, some industry experts warn Melbourne could become another overextended Los Angeles if we don't halt the urban spread. Meanwhile, protest groups in suburb after suburb complain of higher-density living being foisted upon them. They claim their neighbourhoods are in danger of losing their character.

Somewhere in between these factions may be the future Melbourne.