Deep-pocketed buyers on the hunt for prestigious real estate in Melbourne could splash $2 million on a family home in Brighton — or they could sign the deed to a one-bedroom inner-city flat for around the same price. Melbourne’s most expensive one-bedroom apartment has hit the market, set to clock a price record if it sells near its guide of $1.8 million. But for anyone shocked by such a pricetag hanging from a one-bedroom flat, it is worth noting the listing follows a Sydney one-bedder with just a sliding door to the bedroom – essentially a studio apartment – that was recently asking $2.1 million north of the border. The one bedroom in what could be Melbourne's most expensive one-bedroom flat. Photo: Caine Real Estate Found in East Melbourne’s exclusive “tower of power”, the 104-square metre one-bedder faces the historic Fitzroy Gardens. Agent Paul Caineof Caine Real Estate compared the listing to that of an...

A glamorous hotel, high-end apartments and rooftop pool are on the cards for Collingwood, marking a major turnaround for a suburb once known for its drug culture. Collingwood could soon have its first major hotel, cementing a turnaround for a suburb once known for its drug culture. One of Melbourne’s most outspoken developers, Tim Gurner, is planning to build a 95-room hotel on Johnston St in the inner-northern suburb known for its street art and cafe culture. The 4.5-star hotel — to be joined by 65 high-end apartments with prices ranging from $500,000 to $4.9 million — is believed to be a first for the suburb. The planned apartments. Source:Supplied The $120 million project will feature a bar, rooftop pool, valet-parking and a porte-cochere entry. The suburb has come a long way since the 1990s when Smith St — around the corner from the proposed development — was known as...

Victoria and New South Wales again share the title of the nation's best-performing economy, with the two states each benefiting from solid population growth and strong job markets, driving retail spending and business investment. In the second consecutive quarterly survey Victoria and New South Wales share the top spot of best performing economy, amid the nation's slowing housing sector. The report shows Victoria’s economic activity was 26.9 per cent above its decade-average output, the best result in the nation, and 1.5 percentage points ahead of New South Wales in the December quarter. “It is very, very clear New South Wales and Victoria are the best performing economies,” CommSec's chief economist Craig James said. While the ACT's housing strength has ensured its joint ranking in third spot with Tasmania. Australia's capital had the second-largest annual population growth, at 1.93 per cent, behind Victoria at 2.2 per cent. The results are part of CommSec’s quarterly...