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 SOME Brighton mansions may be languishing on the market for months – and then end up selling for far less than initial asking prices. But demand for the suburb’s smallest real estate is continuing unabated – even selling for a nifty profit between economic downturns. This week new Brighton agency Nick Johnstone Real Estate sold bathing box 40 on Dendy Beach, for $210,000 before a scheduled auction. The vendor bought the cream coloured wooden box two years ago for $170,000. [...] MELBOURNE’s next public housing tower – a 10-level, 98-unit complex opposite Doncaster Shoppingtown – has reached its full height. A “topping” ceremony will be held this Thursday to celebrate the suburb’s new landmark – with Minister for Social Housing and Homelessness (and Sport and Indigenous Employment and Economic Development) Mark Arbib likely to attend. State government representatives, and the developer, Bendigo-based not-for-profit group Loddon Mallee Housing Services will also be there. The 95 – 99 Tram Road affordable housing complex is being funded using money from the Commonwealth Government’s Nation Building Economic Stimulus which aims to deliver 4500 new rental homes for low income earning Victorians. [...] GERMAN pension fund Deka Immobilien Investment is reportedly paying $118 million for the South Wharf Commercial tower in Docklands. The sale, reflecting a yield of about 7.75 per cent, ends a saga to sell the office that has lingered since just before the economic downturn, in late 2007. The office is part of the $750 million South Wharf precinct which also includes retail, residential and a hotel component. The office was sold by private developer Austexx, which owns the DFO chain, which is also for sale. [...] Japan First-quarter Economic Growth Below Forecast · UK’s economic growth revised up · ‘Strong’ growth for India economy · Australian interest rates on hold · Manufacturing growth slows. Tags: australian, continued, developed, economy, … [...] |
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