KENSINGTON is an investor “hot spot”, according to a ranking of 15,000 suburbs nationwide. A survey by Your Investment Property magazine found the small suburbs which border Moonee Valley and Melbourne council areas have all the attributes of money-makers. It was ranked among the top 100 investment areas for properties likely to grow in value. The magazine’s editor, Nila Sweeney, said Kensington’s historically strong performance in the market and excellent amenities made it a good choice. “Buyers can get a good deal now on a property that will achieve great growth in the future by choosing the right location,” Sweeney said. “The suburbs that rated best for investment typically had good comparative affordability with neighbouring areas.” Flemington and Travencore also rated in the top 100 for its proximity to the CBD and amenities. And the numbers seem to back the claim. Unit prices have only just reached the Melbourne-wide median of $474,500. As of the June quarter, the median for Kensington is $485,000, an increase of 9.3 per cent of its March figure ($450,000). According to the REIV, Kensington also recorded a 12.4 per cent increase in its median house price for the June quarter. The median price is now at $766,500, well above the Melbourne-wide median and a big improvement on its previous median of $676,250 for the March quarter. As of last week, real estate website realestate.com.au showed the cheapest one bed, one bathroom apartment or townhouse in Kensington is selling for about $350,000. At the high end of the scale, you can pick up a townhouse overlooking Hollard Park, with CDB views, for a cool $1.1 million. Property, p24-25 [...]
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THE largest lodging real estate investment trust in the United States may be moving into the Melbourne hotel market. According to the AFR, Host Hotels & Resorts is eyeing the $150 million Hilton Melbourne South Wharf complex, at the riverside junction that divides the CBD from Southbank and Docklands. [...] SOCCER legend Mark Viduka is selling an investment property near the Williamstown waterfront. The 35-year old recently retired athlete – also known as Big Dukes and V-Bomber – can expect between $1.5 – $1.6 million for 79 Nelson Place, a tri-level, four bedroom townhouse (pictured, right), which is being auctioned next month. Viduka, who is married and has three sons, recently retired from the sport, though there is growing speculation of a career return with the media or as a coach. In February, he was awarded the prestigious Alex Tobin medal by the Australian players’ union, the PFA. Amongst his other achievements, was captaining national football team the Socceroos, and Australia, at the 2006 World Cup in Germany. [...] LaSalle Investment has paid a speculated $200 million for the Novotel hotel on Collins Street, and neighbouring Australia on Collins Shopping Centre. Thakral Holdings offloaded the assets, after late last month withdrawing two other assets, in Queensland, from sale. Those assets were also expected to reap the company about $200 million. For LaSalle, the transaction follows it buying into a Sydney residential project, with Leighton Properties, last month. [...] Everyone knows that a good investment in real estate requires the ability to identify the locations that are likely to get developed soon. Most developed properties are already out of reach as far as common investors are concerned. While this is [...] Investing in real estate is a very smart choice in the modern world. While investing in other avenues, such as funds and stocks, is also a viable way to increase your wealth, it is important to note that no process if fool-proof and all of them are open to a certain level of risk. As such, [...] Considering investing in property? What are some pertinent things to consider before taking this leap? Of all the investment possibilities, investment in land generally produces the most positive results. It is vital, however, to carefully investigate the pros and cons, benefits and deficits of real estate investment. Most people look at investment real estate as risky [...] 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. The Sydney-based developer this week exchanged contracts to sell the cleared block of land, to a private investment company. Mirvac’s Victorian development manager Christian Graham confirmed the sale but declined to comment on the details including buyer or price. [...] |
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