Lockdown restrictions have been extended by one week for the Greater Melbourne region, as Victoria battles to contain the latest coronavirus outbreak rippling through the city.
The median price of a house in Sydney skyrocketed by nearly $1,200 a day through the June quarter and the median Melbourne home now costs a record $1.02 million, Domain reports, outlining the market's phenomenal growth through Australia's stop-start economic recovery.
The woman, from Tamil Nadu, India, told the court the couple beat her multiple times and poured hot water on her.
Melbourne is bracing for news which could nudge it towards yet another lockdown, after state health authorities detected 11 new cases of COVID-19 in the community over Wednesday. Face masks are once again mandatory for all public indoor areas in Victoria, except for children under 12, and those with medical […]
The average Australian house now costs a record $477 a week to rent, according to Domain. Lockdown lifestyle changes and the resilience of working from home contributed to June quarter increases in every major city bar Melbourne and Sydney. Thanks to a strong Adelaide rental market, average house rents in […]
Four out of five office building owners and managers don’t believe occupancy levels will rise significantly in the coming months, the Property Council of Australia says. In May, Melbourne’s white-collar workplace occupancy was just 45% of pre-pandemic levels, while occupancy rates were stagnant around much of the country. Sydney marked […]
Melbourne’s food vendors are “beyond consolable” due to the state’s latest COVID-19 lockdown, said Grazeland director John Forman. Like thousands of restaurants and cafes across the city, the new food precinct is open for takeaway over the weekend. But Forman expressed fears for venues, livelihoods, and even Melbourne’s international brand […]
Victorian workers impacted by the state’s two-week lockdown will soon be offered up to $500 a week, under a new federal government payment scheme. But workers must first pass a strict list of eligibility requirements, and must have less than $10,000 in liquid assets. The scheme has been welcomed by […]
Economists have predicted Australian property prices will continue soaring throughout the remainder of the year on the back of record low interest rates. Sydney is expected to lead the market higher, with prices finishing the year 21%, or $216,300, higher. Meanwhile some economists warn the Morrison government’s loan guarantee scheme […]
Melbourne’s Lord Mayor has called for State and Federal Government support to protect businesses through Victoria’s seven-day snap lockdown. The closures, designed to stem Victoria’s latest COVID-19 outbreak, is expected to cost $1 billion in economic activity. The State Government is reportedly considering a $200 million package to buoy small […]
Victoria will enter a seven-day lockdown from midnight Thursday, in response to a worrying new outbreak of COVID-19 within the community. “Unless something drastic happens, this will become increasingly uncontrollable,” Acting Premier James Merlino said. The state counted a further 12 locally-acquired cases of COVID-19 overnight, bringing the recent cluster […]
Residential landlords are planning to dump thousands of rental apartments in the Sydney and Melbourne central business districts in the coming months to avoid a further cash flow crunch following the termination of mortgage repayment holidays at the end of March. The owners of 2037 apartments in Melbourne and of […]
The City of Melbourne has celebrated its first “FOMO Friday”, a series of activations and offers it hopes will draw workers back into the CBD. The initiative comes in partnership with the Property Council of Australia, which has strongly pushed for workers to return to the office after a year […]
Rental vacancies continued to climb in central Sydney and Melbourne through April, defying trends seen nationwide. Extended international border closures have kept inner-city units empty, even as the market tightens in suburban and regional Australia, SQM Research states. The trend is not evenly distributed: CBD unit rents sit below April […]
New financial reports show some of Victoria’s major universities dipped tens of millions of dollars into the red over 2020. RMIT, Swinburne, and La Trobe are among the tertiary institutions to post sizable operating losses, linked to COVID-19 shutdowns and border closures. Some universities posted operating surpluses, but further disruption […]
Metro Melbourne’s median house price has cracked the million-dollar mark for the first time, according to the Real Estate Institute of Victoria. Those properties climbed nearly $90,000 over the March quarter, reaching prices the median Sydney home hit in 2015. Unit prices continue to climb, despite falling rents in the […]
Melbourne is now the second most affordable capital city in Australia to rent. Domain data published on Thursday shows that it is almost the only state capital where rents aren’t rising or holding steady. “Inner Melbourne units have felt the brunt, rents are now at 2010 levels after tumbling by […]