Apartment values in Melbourne and Sydney are falling by up to 20 per cent between purchasing off the plan and buyers receiving the keys, despite housing shortages and booming residential prices, according to analysis.
The five hectare development, named Promenade, will have 774 towers in the 11 towers that will be from three to 12 storeys on Parramatta River’s northern banks, as well as 1.2 hectares of open space and a pedestrian bridge across the river.
The recently launched Loddon Mallee South Regional Growth Plan, from Victorian Planning Minister Matthew Guy, has signalled that Bendigo’s previous envisaged density plans need revision as growth in the region becomes a state focus.
Population estimates released today by the Australian Bureau of Statistics (ABS) reveal that if current growth trends prevail, Melbourne is projected to overtake Sydney as Australia's largest capital city by 2053
"'Grace Kelly: Style Icon' will highlight the spectacular wardrobe of Grace Kelly and examine her glamorous Hollywood image and enduring appeal. The exhibition features dresses from such films as High Society as well as the gown she wore to accept her Oscar in 1955. It also explores the evolution of her style as Princess Grace of Monaco, from her extensive wedding trousseau to her haute couture gowns of the 1960s and 1970s by her favourite couturiers Dior, Balenciaga, Givenchy and Yves St Laurent."
The law surrounding the purchase of property in Australia by foreign nationals is being reviewed amid concern that buyers, especially from China, are pricing locals out of the market in popular locations.
The rising influence of Chinese investors in the Australian property sector means the Reserve Bank of Australia has lost its ability to use the official interest rate as a tool to protect Australian investors against the risk of a housing bubble, UBS regional chief investment officer Asia Pacific Kelvin Tay told a luncheon crowd in Sydney on Wednesday.
This year China’s gross national savings will be close to $5tn. US savings will be only $3tn. If, as planned, China were to open its capital account – allowing foreigners to invest in China and the Chinese to invest abroad – the scale of its savings
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