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 ANOTHER prominent development site has been listed for sale in Melbourne’s east. This time, at the south-west corner of Jells and Ferntree Gully roads, in Wheelers Hill (aerial of the site, right), Ammache Architects is selling an 8106 square metre block with plans and permits for a four-level, 131-unit apartment complex. Ammache paid $4.3 million for the Wheeleres Hill site in August 2009, but is said to be seeking about $10 million for the block now. [...]  PERTH-based developer Peet & Co has apparently decided against developing a 28 hectare housing estate in Melbourne’s outer south-east, and is now selling the site. Sources expect the block could fetch close to $30 million, given it is for sale with a 291-lot subdivision, and effectively ready to build upon. At 55 Abrehart Road, about 55 kilometres south-east of town, the estate (pictured, right) is near commercial hubs in Cranboune and Dandenong and is not far from the Pakenham Golf Course. [...]  THE Royal Automobile Club of Victoria is some $2 million richer, after selling a 9711 square metre development site in Frankston South (pictured, right). The undeveloped block at 6 Robinsons Road sold to an investor, and is expected to make way for a residential redevelopment in the medium to long term. The asset derives annual rent of $110,000 from leases to five telecommunication companies. It’s next door to the Village Baxter retirement village and a caravan park and is close to what will be an onramp to the $759 million Peninsula Link freeway, which is under construction. [...] THE new owners of a prominent car yard near the busy Kew Junction (pictured, right) have wasted no time speeding through a new high-density proposal. After selling to developers in late 2009, the 118 – 120 High Street site, which has been for years occupied by Q-Cars, will make way for a 12-level, 46 unit apartment tower with ground floor shops and 36 car park bays. The Rothelowman designed tower – Clara Q – will be the Kew Junction’s tallest building, and will make the suburb easier to identify from other elevated parts of Melbourne with an eastern suburb outlook. [...] THE new owners of a prominent car yard near the busy Kew Junction (pictured, right) have wasted no time speeding through a new high-density proposal. After selling to developers in late 2009, the 118 – 120 High Street site, which has been for years occupied by Q-Cars, will make way for a 12-level, 46 unit apartment tower with ground floor shops and 36 car park bays. The Rothelowman designed tower – Clara Q – will be the Kew Junction’s tallest building, and will make the suburb easier to identify from other elevated parts of Melbourne with an eastern suburb outlook. [...] THE new owners of a prominent car yard near the busy Kew Junction (pictured, right) have wasted no time speeding through a new high-density proposal. After selling to developers in late 2009, the 118 – 120 High Street site, which has been for years occupied by Q-Cars, will make way for a 12-level, 46 unit apartment tower with ground floor shops and 36 car park bays. The Rothelowman designed tower – Clara Q – will be the Kew Junction’s tallest building, and will make the suburb easier to identify from other elevated parts of Melbourne with an eastern suburb outlook. [...] THE new owners of a prominent car yard near the busy Kew Junction (pictured, right) have wasted no time speeding through a new high-density proposal. After selling to developers in late 2009, the 118 – 120 High Street site, which has been for years occupied by Q-Cars, will make way for a 12-level, 46 unit apartment tower with ground floor shops and 36 car park bays. The Rothelowman designed tower – Clara Q – will be the Kew Junction’s tallest building, and will make the suburb easier to identify from other elevated parts of Melbourne with an eastern suburb outlook. [...] The number of houses sold in Melbourne last year was the lowest since the mid-1990s, according to new figures from Land Victoria. Its Annual Guide to Property Values shows that 53,112 houses were sold in Melbourne last year, a fall of 13.35 per cent on 2009. It is a far cry from 2001, when the market was at its peak with 70,137 houses sold. Despite the fall in numbers, median prices and total values still rose. Victorian Valuer-General Robert Marsh said the total value of sales of all property in Victoria increased 1.4 per cent from $74.62 billion in 2009 to an estimated $75.68 billion last year. In Melbourne, the median jumped 18 per cent from $420,000 in 2009 to $495,000 last year. In general terms, for the past 10 years house prices have continued to grow, with Melbourne’s median house price rising 160 per cent – from $190,000 to $495,000 – between 2000 and 2010. The total number of units and vacant house block sales also fell last year. More than 25,000 units were sold in Melbourne, the lowest since 2004, while 12,473 house blocks were sold, a 43 per cent decline on 2009. It was the lowest number of vacant house blocks sold since 1996. Unit/apartment median prices in metropolitan Melbourne rose 12.6 per cent compared with 5.5 per cent for unit/apartment prices in country Victoria. Metropolitan house block prices rose $20,000 to $185,000. NEW APARTMENT COMPLEX The north end of the CBD is the latest Melbourne area to become home to a new apartment complex. Fulton LN is a 700-apartment project from Malaysian company S.P. Setia, set in Fulton Laneway between Franklin and A’Beckett streets. In its first foray into Australia, the company said the 107m tall building would deliver a mix of residential, commercial and retail tenancies. The distinctive architecture by acclaimed Karl Fender (FKA, Melbourne) offers one, two and three-bedroom apartments, a green arbour facade, garden terrace, gymnasium, pool, theatrette and an exclusive entertaining and dining space inspired by Melbourne chef Adam D’Sylva. Like most new developments, the environment is high on the agenda, with bicycle facilities, grey-water recycling, a water tank, natural ventilation, green wall and an average six-star energy rating. Prices start at $370,000 for one bedroom at 45sq m, $515,000 for a two-bedroom starting at 60sq m and $1,050,000 for three-bedroom dwellings starting at 115sq m. Details: www.fultonlane.com.au MORE FIRST-HOME BUYERS A softer housing market and stable interest rates are luring more first-home buyers into the market, according to mortgage broker Loan Market. Spokesman Paul Smith said 35 per cent of the company’s inquiries last month came from first-home buyers, a 10 per cent increase on May. “We have gone eight months without an interest rate rise and this has not only given a much-needed reprieve to households dealing with increased costs of living, but has encouraged those looking to purchase their first home,” he said. Mr Smith said Loan Market’s inquiries from investors were up 20 per cent in [...] Selling a house, impatience or trying to impress your mates are all good reasons to need an instant garden. But how do you create one? The easy answer is to throw lots of money at the planting, but that can be daunting spending your hard-earned cash on an item that requires specialist knowledge. Buying big plants is a great way of getting the mature garden look, but be warned – it can get very expensive. You really have to weigh up if the extra expense of the plants can be justified when plants will grow in time anyway and your hard-earned investment just disappears. Smaller plants will always out-perform larger ones in the long run and it only takes a couple of growing seasons to see this in practice. The reason for this is a smaller plant grows up in its new climate and soil conditions and it learns to adapt to them. Larger plants are used to being treated like a king at the nursery and when they move to a different soil, climate and position they take a few years to get used to it. Another tip for spending your money well with plants is to buy larger slow-growing plants and smaller versions of quick growers. To make sure the quick growers do their thing and fill in the gaps rapidly, soil preparation is the key. And the most basic version of this is to dig in well-rotted compost. Pots lift plants up closer to the eye level and this works like a highlighter to that plant. Try to position potted plants in a place that the eye naturally looks to for maximum impact. This can be the end of a path, outside a window or framing a front door. Lawn is a great instant garden tool as it creates a lush, coloured carpet for a fraction of the price of a garden bed. An area for lawn also opens a garden up to let the light in – this adds a feeling of space and openness while maintaining a soft natural look. Remember when trying to create an instant impact with a garden that plants really do make the difference, changing a space into an outdoor room.Charlie Albone is the co-host of Selling Houses Australia on The LifeStyle Channel and runs his own business called Inspired Exteriors. [...] WHITEHORSE’S property market is spiralling down with thousands of dollars wiped off the median price of property in the past year. But real estate agents have stopped short of calling the decline a bust, saying plummeting prices are a return to realistic figures after boom years. While the latest Real Estate Institute of Victoria (REIV) figures show Melbourne’s median house price jumped 5.4 per cent to $590,000, all Whitehorse suburbs – except Box Hill – fell. The biggest losses were felt in Blackburn and Forest Hill. Blackburn dropped from a median of $903,750 for the March quarter to $799,500 in June, a quarterly loss of 11.5 per cent and a year-round drop of 9.5 per cent. Forest Hill prices fell 16.7 per cent from a median last year of $634,250 to $528,500. Nunawading is down 9.1 per cent, Mitcham 8.1 per cent and Vermont 7.8 per cent. Box Hill though has bucked the trend with an increase of 16.2 per cent to a median price of $960,000. Surrey Hills has shown a small increase of 5.7 per cent in the last year, but still fell 7.1 per cent in the past three months. Ray White Blackburn director Peter Schenek described the figures as a correction. “No doubt the top end has fallen dramatically,” he said. “Buyers are wanting value for money. A good property in a good position will still always go for a good price.” Burwood East’s Rose Real Estate director Peng Chung said a strong Chinese market was fueling higher prices in Box Hill. “Chinese families tend to gravitate to regions where there are other Chinese residents as anyone would do when they move to a new country,” he said. “The other advantage of Box Hill is its access to good schooling.” Mr Chung said prices were stabilising after skyrocketing. “A couple of years ago, if you had a $400,000 property, you could realistically put $420,000 to $440,000 on it,” he said. “Now that same $400,000 property, you would put on say $390,000-$410,000 and probably expect to get around the $400,000. “The market is returning to where it should be.” [...] |
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