How to find a good place to live in Melbourne’s new housing boom
Posted On May 22, 2021
By now, many of us have seen the news reports of Melbourne’s impending “housing bubble”.
The new construction, which is expected to create more than 50,000 jobs, has sparked widespread fear among investors that the boom is only beginning.
But if the city’s housing markets are any indication, the housing boom is far from over.
In the first six months of 2017, Melbourne’s average apartment price hit a record high of $1.2 million.
Meanwhile, Melbourne rents hit their highest ever month in February, hitting $1,724 per week.
And yet, as Melbourne’s housing market gets ready to get its first crack at a full-blown housing boom, the city is also seeing some new housing construction that is taking place at a slower pace than expected.
While there has been a marked slowdown in the number of new apartment buildings in Melbourne since the start of the year, there have been a number of developments that are not yet underway.
For instance, in February there were no new apartment projects in the city.
The City of Melbourne is yet to announce which of the projects are being built, but the Government is expected in coming months to announce the completion of a number.
One of those projects, called The West End, will see the development of 300 new apartments at the corner of St Paul’s and Brunswick Street.
It will be the second phase of the West End project and is expected be completed in the first half of 2018.
It’s been previously estimated to be worth up to $200 million, and could be Australia’s first residential tower of this type.
The West end will be Australia-first as it is being built on a site previously owned by the Royal Bank of Australia, with the Royal Melbourne Hospital and other assets currently at the site.
The site has been vacant for years, and was originally developed in the early 1980s as a site for a hospital.
The city of Melbourne has announced that it will be building the first of three new developments at Brunswick Street that are set to be Australia First, with more to come in the future.
The first project is being planned at the intersection of Brunswick and Brunswick streets in Melbourne.
The project is expected for completion by the end of 2019.
The second is being designed to be built on the site of the former City Hall, located at the northwest corner of Brunswick Street and St Paul Street.
The new project is set to take place on the former site of a hotel, the Brunswick Hotel.
The Brunswick Hotel opened in 1875 and became a hotel destination for many years, with a number different names including the Brunswick Palace Hotel, the Royal Brunswick Hotel, and the Brunswick Tower Hotel.
In 2017, the property was sold to the Commonwealth Government for $15 million.
The third project is scheduled to be completed on the Brunswick site at the end by the first quarter of 2018, when it is expected that the site will be re-opened for commercial and residential development.
The property is expected also to be redeveloped as a large hotel.
As part of the re-opening of the Brunswick hotel, The Brunswick Tower hotel is expected, along with a new hotel development that is being developed on the property, to be open by the year 2020.
The development is set for completion around the end to the end year of 2019 and will include approximately 50 hotel rooms.
As well as the Brunswick and St. Paul developments, there are also plans for two other properties in Melbourne: the Brunswick Estate and Brunswick Hotel on Brunswick Street, and Brunswick Estate on Brunswick Avenue.
The two properties are also being built in conjunction with the Melbourne-based construction company AECO, which also manages the Brunswick Street site.
According to the City of Victoria, the developer is building The Brunswick Estate at Brunswick and Augusta Streets in Melbourne, which will include retail, offices, a new entertainment precinct, and housing.
In Melbourne’s most recent housing report, the City found that Melbourne’s overall housing supply had increased by more than 200 per cent since 2014, with demand exceeding supply by more then 700 per cent.
A new housing market is expected The City’s latest report on Melbourne’s property market is also expected to be released in the coming months, which it will look at changes in the housing market over the next two years.
It has been widely speculated that the city could see an increase in new apartment building over the course of the next few years.
The Council of Australian Governments report released in March said that Melbourne could see a 50 per cent increase in housing demand in 2018-19, as a result of a stronger economic outlook.
But according to the latest city housing report published by the City, the trend is in fact to slow over the coming two years, which could lead to a slightly higher growth in new residential construction over the remainder of the decade.
It is expected the trend towards more apartment building will continue, with apartment developers having