Melbourne’s Most Reinvented Suburbs
ONE has to wonder what “great Australian dream” some Melburnians were being sold last century.
Until recently – the 1980s and 1990s for most inner-city areas – owning an inner-city terrace was not necessarily a big deal. More often than not, according to veteran agents, they were used as “stepping stone” investments that could be paid off in a few years and sold on the basis of being “more attractive than renting”.
Buyers – particularly immigrants from Italy and Greece – bought in Richmond, North Fitzroy or Northcote, in order to save a deposit to build new, larger homes in Avondale Heights, Glenroy or – if they invested well – Doncaster.
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IT WILL be the end of an era in Port Melbourne next spring, when Circus Oz plans to cross town.
GOVERNMENT human resource officers take note – another private development company is about to prove Treasury missed a chance to substantially boost its coffers.
AS PLANNERS continue to approve major new housing estates in Melbourne’s (until-recently-forgotten) western suburbs, a powerful state motoring body has called on the new state government to build a new major road thoroughfare, for what will be an imminent surge in car traffic.
MIRVAC is believed to have made about $13 million from the sale of a 4.4 hectare Port Melbourne development site, once owned by General Motors Holden.
KEEPING it in the AFL family, a company chaired by former Melbourne Football Club president Paul Gardner has leased offices at a Richmond project being developed by the current president of the Geelong Football Club, Frank Costa.
THE State Government is continuing to offload prime located development sites around freeway edges and wedges.
THE home that AFL footballer Brendan Fevola’s mobile phone may have been reportedly left, before a controversial picture of model Lara Bingle was circulated, has hit the market.