VIC Lack of Melb Development Sites - South East

Not enough stock....BOOM

Lack of available development sites in Melbourne’s south east pushing projects north: PermitReady.com.au - realestate.com.au

Extract - Herald Sun, 24 January 2017

SCARCITY of land available for development in Melbourne’s south east is driving a rush towards prime sites north of the CBD, according to PermitReady.com.au.

The property website, which specialises in council-approved development sites, recorded a 27 per cent rise in inquiries in the inner-north “permit ready” land market to the end of 2016.

Specifically, the website noted an uptick in buyer demand for boutique projects in Preston, Coburg and Thornbury.

The data shows 21 “permit ready” sites listed on the website changed hands in Melbourne’s north in the six months to December.

This compares to just nine in Melbourne’s south east over the same period.

 

Permit Ready is starting to gain some traction. Certainly more sites on it than when it first launched.

 

Loving all these good news Melb posts.

 

Interesting analysis I think just based on stonningtom and Monash councils a lot of rezoning backwards to neighbourhood zone or lesser density ares where else councils like darebin is very pro development

 

Also this

Melbourne likely to face an apartment undersupply: Mark Mendel


It’s easy to think that with all the apartment construction currently underway in Melbourne that the city is undergoing an apartment over-supply, but Melbourne will not be seeing an apartment over-supply crisis anytime soon.

The Commonwealth Bank of Australia revealed that more than 140,000 apartments were approved across Melbourne, with only 35,000 expected to be completed between 2016-2018.

These figures suggest that an under-supply of high rise apartments in the future is more likely than an apartment over-supply.

Another important reason Melbourne does not have an apartment over-supply is down to the number of new developments that are failing to start. This is due to stricter lending policies and developers finding it tougher to be approved for finance, especially if they have little or no experience.

 

Me too, but you realize it's not smoke and mirrors or even spruiking it's the real deal......we are making money