Ensure you never miss an issue of the
real estate business bulletin
State of Markets – VIC November 2012

State of Markets – VIC November 2012

by Reporter 0 comments

Essential information, plus expert insight on what is shaping the national property market...

Essential information, plus expert insight on what is shaping the national property market...


VIC regional cities primed for growth
A new strategy for Victoria’s regional cities is set to be unveiled, backed by thousands of dollars’ worth of funding, the state government has said.

Victoria’s 10 regional cities will benefit from a $300,000 boost, creating a regional growth strategy, premier Ted Baillieu said. The group comprises Geelong, Ballarat, Warrnambool, Horsham, Mildura, Bendigo, Shepparton, Wangaratta, Wodonga and Latrobe.

The plan could be good news for investors since it will focus on areas that include economic and population drivers, strategic and statutory planning, urban and community infrastructure and governance and resources.

“We want to see [our regional cities] grow and we want to see more people living and investing in our regions,” Mr Baillieu said.

Multi-million redevelopment for Melbourne suburb
A Melbourne suburb will undergo a $350 million redevelopment and urban renewal, according to the Victorian state government.

The multi-million dollar redevelopment of Footscray, in Melbourne’s west, was announced recently by minister for planning, Matthew Guy.

“The McNab Avenue development by Grocon will help transform the under-utilised site into a vibrant, innovative and cutting-edge, mixed-use development in the heart of Footscray,” Mr Guy said.

“This development is just the start of Footscray’s urban renewal, with other projects being planned in the Joseph Road Precinct in central Footscray and other sites being developed by the private sector and Places Victoria.”

Designated a ‘Central Activities Area’, Footscray is ‘essential’ to accommodation, growth in jobs and demand for new homes.

In total, 1,200 relocated employees will be moved to the new development by 2014, with 300 jobs created during construction.

Offices and other commercial premises are also being built.

Footscray will capitalise on other government investment in the area, in particular the Regional Rail Link, which will connect with regional V/Line services arriving in Footscray.

State of Markets – VIC November 2012
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?