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MELBOURNE APARTMENT DEVELOPMENT HITS HISTORIC HIGH

Craig Butt and Christina Zhou July 7, 2014 class:ad adSpot-textBox cT-imageLandscape More apartments are being built in Melbourne than at any time in the city's history, which experts say is being driven largely by overseas investment. It has also sparked fears of a glut of new apartments, causing property prices to drop once they come to be re-sold. Almost 6000 homes have been completed or are set to be finished by the end of this year, nearly three times the annual average over the past decade, City of Melbourne development activity data shows. And almost 6000 more under construction in the Melbourne council area, which covers areas including the CBD, Docklands, Southbank and Carlton, are

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