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Property Investing - Port Melbourne Life on the Edge
Property investing prices pick up following a cooler winter last year. Susannah Petty Reports. Winter has yet to make its mark on Port Melbourne's retail sector. Traditionally a slow rental period, the past months have instead enjoyed an uncommon amount of interest, according to agents with up to 15 new Property investing inquires each day. "This time of year normally it's three or four a day for property investing," says Biggin & Scot senior property manager Jaymie Spanos. "We had six to eight troupes going through yesterday for a mid-week inspection. That's normally quite unusual, especially for a weekday." Similarly, at Cayzer Real Estate, Senior property investing manager Tricia Maxwell says properties are being snapped up even before they fall vacant. She estimates the vacancy rate would be less then 3 per cent and says it looks likely to continue to fall. Until fairly recently Port Melbourne's retail sector was subdued by the weight of new stock being listed by investors. Now it seems the new property investing additions are proving a rental stimulant, attracting tenants who are keen for high-quality, near-city residences. "I think Port Melbourne has become a lot more popular with the young property investing executives and families now," Says Mr Spanos. "And I've noticed an influx of people wanting to move closer to the city but not be right in the city." Prices reflect this shift. Mr Maxwell says it's now tough to find anything for less then $300 a week, while penthouses in the newer apartment towers can fetch up to $1200 a week and bayside apartments wouldn't dip much below $700 a week. Mr Spanos says prices in sought-after pockets, such as the Beacon Cover housing estate, have climbed by about $20 a week. These properties command between about $600 and $650 a week, she says. By comparison Mr Spanos believes apartment rents have largely stabilised. "We had to reduce some slightly last year because they weren't leasing, compared to this year, were they've kept their price," he says. Premium Apartments are an exception as the typically attract people who, he says, are willing to pay more for the right address. Slightly cheaper housing can still be found in the Garden City, which is closer to Docklands and has un-renovated houses for around $400 a week. Properties in Port Melbourne's midrange moved from between $300 and $400, depending on the age. "But if you have a three bedroom townhouse in Port Melbourne for around the $450 mark, which is not in the Beacon Cover, you will pretty much see that go first, before a two-bedroom apartment," Mr Spanos says. Generally speaking, however, Ms Maxwell syas demand is relatively consistent across all property investing types. "We've got something here to suit all styles and they all seem to rent just as quickly as the next," she says. "There's no rhyme or reason to it. We have open-for-inspections and can get up to 20 or 30 people for either an apartment or an old weatherboard house. Domain Express The age Saturday, June 11, 2005 More articles on http://www.aviategroup.com.au/ - Aviate offers property investing, Australian property
MORE RESOURCES: Broncos connected to real estate purchases around Burnham Yard, potential stadium site The Denver Post Small real estate investors reach record market share, now dominate 59% of investor purchases Fox Business One of Frank Lloyd Wright’s earliest homes — and the only of its kind in Indiana — has listed for sale New York Post Real Estate Transfers ~ May 30, 2025 The Bedford Citizen Real estate brokerage eyes move to Salesforce Tower Crain's Chicago Business Startup aims to bring assumable mortgages to the masses RealEstateNews.com After 50 years of blazing a trail for women in real estate, a Hampton Roads magnate retires The Virginian-Pilot Household Real Estate Asset Value Falls to Start the Year Eye on Housing Attorney General Jeff Jackson Frees North Carolinians from Predatory Real Estate Agreements NCDOJ (.gov) Lynn Goessling Talks Real Estate Trends in St. Louis Business Journal Armstrong Teasdale MV Realty update: Listing agreements terminated in Florida RealEstateNews.com Interview: Heidi Addo, vice president, Michel Commercial Real Estate Finance & Commerce Real Estate: 8 properties, including apartment complex, change ownership in Clark County The Arkadelphian SDCERA commits $250m to real estate fund Private Equity Real Estate | PERE Real estate news: Tesla Collision Center property in Irvine sells for $21M Orange County Register Former GE Headquarters Site in Fort Point Sells for $57 Million Amid Struggles in Lab Real Estate Market Boston Real Estate Times EG Real Estate: 11 Sold & 13 Open East Greenwich News 4 rate-lowering strategies to share with buyer clients RealEstateNews.com Q&A: Colliers’ Devon Dvorak builds career in multifamily real estate Finance & Commerce Tech Bytes: reAlpha enters a new market, eyes national expansion RealEstateNews.com Home equity dips $4K as prices slow, costs climb RealEstateNews.com TCRS commits $150m to real estate fund Private Equity Real Estate | PERE Archie real estate platform wins Delaware EDGE grant Cape Gazette The Best Real Estate of the Year, From Merv Griffin’s La Quinta Estate to a Historic Oxfordshire Manor Robb Report Aleut Real Estate breaks ground on hangar facility at Pryor Field Business Alabama Magazine New Perspectives: Cheers! | Real Estate Insights Piedmont Exedra Related Beal Celebrates Topping Out of Leiden Center II at Innovation Square in Boston’s Eastern Seaport Boston Real Estate Times Kevin Joyce Talks Residential Real Estate, Mortgages & Opportunities For Sellers & Buyers Rockland County Business Journal Brooklyn BP Antonio Reynoso has taken cash from real estate interests despite pledge New York Daily News MassHousing Announces Expanded, Statewide Down Payment Assistance Program - Boston Real Estate Times MassHousing Announces Expanded, Statewide Down Payment Assistance Program Boston Real Estate Times Matthews Real Estate Opens San Francisco Office Connect CRE Galvanize Real Estate Buys Maryland Industrial Portfolio CommercialSearch Licking County real estate transfers for May 26-30 hit nearly $1.5 million in Pataskala The Newark Advocate Real estate transfers in Hancock County for May 2025 Muddy River News Invesco Real Estate Provides $355M Refi of 24-Asset Industrial Portfolio Commercial Observer $28.2 million record home sale in West Palm Beach at 3030 Washington Road The Palm Beach Post Fond du Lac County property sold for $1.53 million in real estate transfers for June 2-6 fdlreporter.com News of public record: Muskingum County real estate transfers Zanesville Times Recorder Northwest Healthcare Properties Real Estate Investment Trust Announces June 2025 Distribution Newsfile Wake Up Your Real Estate: Defining Real Estate Nonstop Local News LOCAL REAL ESTATE TODAY 6.13.25 KQEN News Radio Real Estate Agent Booms and Busts Calculated Risk News of public record: Coshocton County real estate transfers Coshocton Tribune Brookfield Asset Management names CEO of real estate in reshuffle Pensions & Investments Real estate transfers: Canton supermarket property sells for $8.2M Canton Repository $354M Deal: Bridge Investment Group's Massive Industrial Portfolio Refinancing Spans 6 Key States Stock Titan Building Futures Annual Awards Gala Fordham University The Pipeline: Commercial real estate roundup for 6.13.25 Richmond BizSense Florida’s Spring Break Capital Is Now Its Newest Luxury Real Estate And Financial Hotspot - Forbes Construction crews raising the next business park for fast-growing Kyle The Business Journals Texas firm pays $32M for Near North Side apartments Crain's Chicago Business Welcome to Real Estate Friday! The Berkshire Edge Major Real Estate Deal: Lead Real Estate Secures Prime Spot in Tokyo's $6B Tsukiji Waterfront Transformation Stock Titan Investors Are Selling a Record Share of Homes To Cut Their Losses—Especially in These 5 States Realtor.com U.S. States With Lowest Mortgage Rates Today – June 13, 2025 Norada Real Estate Investments Loyola names MCB Real Estate’s David Bramble as Business Leader of the Year Loyola University Maryland Real estate giants crack down on exclusive 'off-market' home listings in major shift for buyers Fox Business Real estate pushback to the 'Taylor Swift tax' begins. Will the charge hit everyday cottages? The Providence Journal |
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