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Apartments

SUBLEASING/OVERCROWDING IS SPREADING VIRUS

” THEIR SLEEPING IN KITCHENS AND LOUNGE ROOMS” High-rise towers have become the new frontier of a thriving illegal rooming house market as “profiteering” operators prey on struggling foreign students. International student groups said a lack of affordable housing was leaving young foreigners living in Australia with “no choice” but to pay to live in […]

THIRD PIPE MANDATED WITHOUT PLANT LOCATION

THIRD PIPE COMPLIANCE APPROVAL BASED ON PLANT BEING BUILT ON GOLF LINKS ESTATE By way of background, Manningham, in 2008, had entered into an agreement with Yarra Valley Water and Melbourne Water to develop an integrated approach to water servicing across Doncaster Hill which was to be YVW’s first venture in a built up area. […]

CRUNCH TIME FOR COUNCIL TRAFFIC DEPARTMENT

HIGH RISE  TRAFFIC BEING DIRECTED THROUGH RESIDENTIAL STREETS Councillors have resolved that the Manningham Infrastructure Services Unit immediately undertake: 1. A new vehicle movement and parking study; and 2. An open space and community amenity study in the area of Doncaster Hill south of Doncaster Road and east of Tram Road. This was after the […]

LENDERS & INVESTORS SHY AWAY FROM HIGH RISE

NO CAPITAL GAIN FOR MAJORITY OF APARTMENT PURCHASERS According to market analysts two out of every three high rise apartments purchased off the plan during the last few years have achieved no financial gain. When existing owners of apartments fall into negative equity, property developers become a liability for lenders. When a real estate bubble […]

ARSON FEAR IF HIGH RISK CLADDING MADE PUBLIC

Apartment towers fitted with high-risk cladding could become a target for arsonists or terrorists if their locations across Melbourne are revealed, the city’s fire service warns. This warning comes as authorities complete testing to confirm the make-up of cladding on Spencer Street’s NEO 200 tower, rated a low risk, caught fire earlier this year causing […]

OWNERS TO PAY FOR ILLEGAL CLADDING REMOVAL

REGULATORS WHO APPROVED BANNED CLADDING WILL WALK SCOT-FREE Owners will be charged via their rates over a minimum period of ten years, with costs transferred to the new owners if the property is sold. The arrangement will be between owners, lenders and local councils – providing long-term, low-interest loans to pay for building work to rectify […]

HILL PROJECTS ON HOLD AS UNIT PRICES DECLINE

Oversupply, poor transport, tougher lending conditions and higher mortgage rates, particularly for investor loans, are contributing to the free fall in Doncaster Hill apartment prices. Median property valuations in Melbourne and Sydney are expected to drop by up to $1000 a week this year with additional falls in 2019, Shane Oliver, chief economist of AMP Capital, […]

WHY MORE ADULT CHILDREN ARE LIVING AT HOME

It is not surprising to read that one in five people in the 25 to 29 age group are still living with their parents, many of whom had left and returned after getting into financial difficulties through no fault of their own. There were so many reasons, a marriage breakdown caused by a partner wanting […]

CAR DEPENDENCY THE DONCASTER HILL DILEMMA

 TRAFFIC CONSULTANT’S REMARKS AND RECOMMENDATION “A strategy based largely on car dependency (or existing travel patterns) to service future development is likely to return back to pre-1997 congestion levels on main roads through the study area. However, the performance of these scenarios is unsatisfactory in the PM Peak periods and as such demonstrates the need […]

LUXURY APARTMENT THAT PROVED ANYTHING BUT

PROPERTY COMPANY NETWORK PACIFIC ACCUSED OF MANIPULATING PROXY VOTES TO KEEP LUCRATIVE MANAGEMENT CONTRACTS…Liz Hobday ABC 7.30 When Jennifer Fletcher bought her luxury apartment in Melbourne, she never thought it would lead to a battle with one of the countries biggest management companies. Upon buying into the Tiara development at Melbourne’s Southbank two years ago, […]