A recent article in the AGE Newspaper by Royce Millar, highlights the potential expansion of Melbourne’s metropolitan boundaries to the North and West of the City. The rezoning will increase land values in these areas as previous farming land is converted to housing blocks. The windfall gains to some developers could be as high as a 10 fold increase in value almost overnight. The article outlines the ‘big’ players who will gain most in this property market.
The full story found at: http://www.theage.com.au/national/property-giants-pop-cork-over-city-stretch-20081202-6psg.html