{"id":26752,"date":"2020-08-13T13:47:43","date_gmt":"2020-08-13T01:47:43","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=26752"},"modified":"2020-08-13T13:47:43","modified_gmt":"2020-08-13T01:47:43","slug":"property-developers-plough-ahead-with-new-projects-despite-coronavirus-housing-fears","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/property-developers-plough-ahead-with-new-projects-despite-coronavirus-housing-fears\/","title":{"rendered":"Property developers plough ahead with new projects despite coronavirus housing fears"},"content":{"rendered":"<p><strong>PHOTO: Developers keep signing new deals, even while Melbourne remains a coronavirus hotspot.<cite class=\"_3Jwd8 _20AiM _2v_Gr age8P _2Rt0o _27aqo\" data-component=\"Figure__cite\">(Supplied: Flickr\/Charles Van Den Broek)<\/cite><\/strong><\/p>\n<p class=\"_1SzQc\">Melbourne might be one of the most tightly locked-down cities in the world right now, but a welter of recent property deals shows developers are betting on a rapid return to normality.<\/p>\n<section class=\"_2ybzm Es5LH _1LbdU _1bAUU q-cWK\" role=\"contentinfo\" aria-label=\"key points\" data-component=\"KeyPoints\">\n<h2 class=\"zT1nT _4Zpdk SelAj _1t9H3 _2-MxD lxkD- mSYxO age8P\" data-component=\"Heading\">Key points:<\/h2>\n<ul class=\"_3Crv1\" data-component=\"List\">\n<li class=\"\" data-component=\"ListItem\">Even as Melbourne is in a second lockdown, developers are finalising new deals to build thousands of homes<\/li>\n<li class=\"\" data-component=\"ListItem\">Real estate agents and property analysts say price falls so far have been modest, taking values back to last year&#8217;s levels<\/li>\n<li class=\"\" data-component=\"ListItem\">Two of the three key drivers of property prices \u2014 jobs and migration \u2014 are set to remain weak for some time<\/li>\n<\/ul>\n<\/section>\n<p class=\"_1SzQc\">&#8220;Definitely!&#8221; said Joe Gersh, executive chairman of specialist real estate investment bank Gersh Investment Partners, who just helmed a $53 million deal to develop 1,500 new homes at Donnybrook on Melbourne&#8217;s northern fringe.<\/p>\n<p class=\"_1SzQc\">The agreement between Thailand&#8217;s massive Supalai group and Australia&#8217;s largest residential developer Stockland was agreed in principle in November but inked just last month.<\/p>\n<p class=\"_1SzQc\">Even with coronavirus trimming forecasts for migration-driven population growth, the developer&#8217;s view did not change.<\/p>\n<p class=\"_1SzQc\">&#8220;The [investors] looked at this dispassionately,&#8221; Mr Gersh, who also sits on the ABC board, said.<\/p>\n<aside class=\"_1LbdU _1bAUU _3nAF7\" data-component=\"Pullquote\">\n<blockquote class=\"OsWT8\">\n<p class=\"_1SzQc\">&#8220;They believe in Australia, they believe in Melbourne. 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&rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":26753,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098573,478098512,478098521,478098892,478110831,478108952,478098566,478098562,478110830,478098542,478098519,478098535,478098537,478101575,478098513,478101743,478099125,478099465,478110832,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098828,478098509,478110833,478110834],"class_list":["entry","author-data123nz","post-26752","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-apartment","tag-australia","tag-australians","tag-corelogic","tag-coronavirus-hotspot","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-gersh-investment-partners","tag-home-loans","tag-home-ownership","tag-house-prices","tag-melbourne","tag-melbourne-property","tag-property","tag-property-correction","tag-property-crash","tag-property-developers","tag-property-development-projects","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-news","tag-specialist-real-estate-investment-bank","tag-supalai-group"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Property developers plough ahead with new projects despite coronavirus housing fears - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/property-developers-plough-ahead-with-new-projects-despite-coronavirus-housing-fears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property developers plough ahead with new projects despite coronavirus housing fears - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: Developers keep signing new deals, even while Melbourne remainsRead More &rarr;\" \/>\n<meta property=\"og:url\" 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