Press Releases

Melbourne's residential real-estate to grow by 10 percent in 2010

WBP Property Group, CEO, Greville Pabst predicted further rises for Melbourne’s residential property market at today’s Melbourne Property Outlook seminar, held at Bourke Street’s, RACV Club.

Despite an already strong rise in Melbourne’s residential property markets qualified property valuer Pabst forecasts “a further 10% growth in the median house price to $550,000 - $600,000 in 2010,” reasoning that strong economic conditions including low levels of unemployment , low interest rates and a high demand for residential real-estate, fueled by a booming population, would underpin the market this year.

Property and economy experts to forecast market movements in 2010 and beyond

WBP Property Group, the national valuation and property services firm, has announced the anticipated Melbourne Property Outlook 2010 to take place 16th February, 2010 at the RACV Club, Bourke Street, Melbourne.

“The last 6 months have seen notable improvement in Australia’s property markets, in both the residential and commercial sectors. Despite the initial retraction in the Australian real-estate landscape market fundamentals remain strong supporting future recovery,” says Greville Pabst, CEO and Director, WBP Property Group.

WBP continues strategic expansion

Newcastle based valuation firm, Wolthers Property Valuers Pty Ltd has merged with WBP Property Group Pty Ltd, the national valuation and property services company, as part of WBP’s continued growth strategy.

Wothers Property Valuers will commence trading as WBP Property Group (Newcastle) on October 1st 2009. Directors Mathew Wolthers, Henry Pawlik and David Turner of Wolthers, will continue to direct the valuation business in Newcastle.

Sydney residential property values to remain stable in 2009-10

WBP Property Group, the national valuation and property services firm, this morning announced that the Sydney property market had shown marked improvement with property values returning to their 2008 peak, now offering good investment opportunity.

WBP Corporate recently acquired Mirvac-owned Canberra shopping centre asset, Lanyon Marketplace, for $21.4 million on behalf of WBP Corporate private client Terracomm Pty Ltd.

Budgetary spending has positive implications for real-estate

The Victorian State and Federal Governments announced the 2009-10 budgets in May, both revealing positive implications for residential real estate in Victoria.

Government spending policy has played a significant role in the buoyancy of the Australian economy during the last 12 months. Property expert and WBP Property Group CEO, Greville Pabst, remarks, “initiatives such as the FHOG Boost have created a floor under property values and positively stimulated consumer activity and sentiment.”