Melbourne records busiest month on record for hotel rooms sold
Melbourne experienced its busiest month on record for the number of hotel rooms sold in March, a take-up rate that analysts say dispels lingering concerns that the market is oversaturated after a big lift in supply over the last five years.
The Formula 1 Grand Prix, Melbourne International Comedy Festival and a swathe of international stars performing concerts in March trumped the impact of even Taylor Swift's Melbourne visit in February 2024 for the city's hotel market.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
a day ago
- News.com.au
‘Taylor Swift Tax' could cost her and neighbours $200k
A US state is weighing a proposal that could hit Taylor Swift and dozens of her wealthy neighbours — with a six-figure tax bill for leaving their coastal mansions mostly unoccupied. The so-called 'Taylor Swift Tax,' an unofficial nickname for a proposed surcharge on luxury properties not used as a primary residence in Rhode Island, would levy significant annual fees on second homes valued over $US1 million ($A1.5 million), the New York Post reports. The pop star's sprawling estate in Watch Hill, assessed at roughly $US17 million ($A26 million), could be subject to an additional $US136,000 ($A200,000) in taxes each year if the measure is approved, according to Realtor. While the legislation does not single out Swift by name, her high-profile ownership has thrust her into the spotlight of a broader debate playing out across New England's elite seaside enclaves. The initiative, formally referred to in budget documents as a 'non-owner-occupied property tax,' is part of a growing effort by politicians to address housing affordability in the Ocean State by tapping into the wealth of seasonal residents. At the heart of the proposal is a straightforward formula: properties valued at more than $US1 million that are not used as a primary residence would face a surcharge of $2.50 ($A3.84) per $US500 ($A768) of assessed value beyond the first million. That adds up quickly for high-end homes in coastal towns like Westerly and Newport, where property values have surged in recent years, partly due to out-of-state buyers and short-term rental demand. Politicians backing the measure argue that absentee ownership contributes to housing shortages and erodes community life. Many luxury homes sit vacant for much of the year, they say, while local workers and families struggle to find affordable housing. Supporters believe the tax could help balance that equation. By imposing a cost on keeping homes empty, they hope to encourage property owners either to spend more time in their homes or open them to renters — both of which would inject life, and potentially revenue, into quiet off-season communities. The revenue generated would be earmarked for housing initiatives. Opponents, however, warn of unintended consequences. Real estate agents and longtime property owners caution that the measure could deter investment, depress home values and even pressure multigenerational families to sell beloved beach homes they've owned for decades. They argue the policy casts too wide a net, penalising not only speculative investors but also those with deep roots in the state. Debate over the bill has drawn sharp lines between politicians and real estate professionals, full-time residents and part-time neighbours. While some view the measure as a needed corrective to a distorted housing market, others see it as a shortsighted move that could undermine property rights and local economies. If passed, the law would not take effect immediately. Homeowners would have until July 2026 to adjust — either by proving they spend at least 183 days a year at the property (the standard for primary residence status) or by listing their homes as rentals. Parts of this story first appeared in the New York Post and was republished with permission.
Herald Sun
3 days ago
- Herald Sun
World's most liveable cities 2025 revealed, Australia ranks three times in top 10
Australia has impressively taken out three of the top 10 spots on the 2025 ranking of most liveable cities in the world. Melbourne has once again beat rival Sydney, coming in at number four on the Economist Intelligent Unit's annual Global Liveability Index. Sydney ranked sixth and Adelaide was ninth. The index assesses 173 cities around the world across the categories of stability, healthcare, culture and environment, education, and infrastructure. Copenhagen, the capital of Denmark, was crowned the best city to live, ending Vienna's three-year run in the top spot. But, before Copenhagen and Vienna, it was Melbourne that held the title of world's most liveable city for seven years. Victoria's state capital got dethroned in 2018. The Economist Intelligent Unit's Global Liveability Index 2025. Copenhagen received perfect scores for stability, education and infrastructure. Austria's capital Vienna may no longer be number one, but it still placed second, tying with Switzerland's Zurich. Vienna's stability score fell significantly, attributed to incidents such as the bomb threat at Taylor Swift's August 2024 concert that led to the cancellation of three shows. EIU said overall this year's results reflected a continued decline in global stability, 'driven by intensifying geopolitical conflict and civil unrest'. Melbourne, Sydney and Adelaide all earned perfect scores for healthcare and education this year. Melbourne was ranked fourth most liveable city in the world. Picture: iStock Australia's friend across the ditch, New Zealand, also made the top 10, with Auckland placing equal seventh with another city loved by Aussies — Osaka in Japan. About 920,000 Australians visited Japan in 2024, setting a new record. This year we're expected to break the one million mark for the first time. Switzerland made an appearance in the top 10 a second time, squeezing in between Melbourne and Sydney with Geneva in fifth place. Vancouver, Canada rounded out the top 10 as North America's only representative. The EIU said it lowered the healthcare scores this year for all four Canadian cities in the index. EIU deputy industry director Barsali Bhattacharyya told CNN there were 'long waiting lists for medical check-ups' and staff shortages at medical facilities and hospitals. Calgary dropped all the way from fifth place in 2024 to 18th in 2025. All the cities covered by the index in the UK (London, Manchester and Edinburgh) also dropped down the ranks, 'following widespread riots and rising homelessness,' the EIU noted. The highest US city on the list was Honolulu, Hawaii at number 23. Al Khobar in Saudi Arabia climbed the most places up the ranking this year from 148th to 135th. War torn Damascus in Syria is again the worst city to live in. Originally published as World's most liveable cities 2025 revealed, Australia ranks three times in top 10
News.com.au
3 days ago
- News.com.au
World's most liveable cities 2025 revealed, Australia ranks three times in top 10
Australia has impressively taken out three of the top 10 spots on the 2025 ranking of most liveable cities in the world. Melbourne has once again beat rival Sydney, coming in at number four on the Economist Intelligent Unit's annual Global Liveability Index. Sydney ranked sixth and Adelaide was ninth. The index assesses 173 cities around the world across the categories of stability, healthcare, culture and environment, education, and infrastructure. Copenhagen, the capital of Denmark, was crowned the best city to live, ending Vienna's three-year run in the top spot. But, before Copenhagen and Vienna, it was Melbourne that held the title of world's most liveable city for seven years. Victoria's state capital got dethroned in 2018. Copenhagen received perfect scores for stability, education and infrastructure. Austria's capital Vienna may no longer be number one, but it still placed second, tying with Switzerland's Zurich. Vienna's stability score fell significantly, attributed to incidents such as the bomb threat at Taylor Swift's August 2024 concert that led to the cancellation of three shows. EIU said overall this year's results reflected a continued decline in global stability, 'driven by intensifying geopolitical conflict and civil unrest'. Melbourne, Sydney and Adelaide all earned perfect scores for healthcare and education this year. Australia's friend across the ditch, New Zealand, also made the top 10, with Auckland placing equal seventh with another city loved by Aussies — Osaka in Japan. About 920,000 Australians visited Japan in 2024, setting a new record. This year we're expected to break the one million mark for the first time. Switzerland made an appearance in the top 10 a second time, squeezing in between Melbourne and Sydney with Geneva in fifth place. Vancouver, Canada rounded out the top 10 as North America's only representative. The EIU said it lowered the healthcare scores this year for all four Canadian cities in the index. EIU deputy industry director Barsali Bhattacharyya told CNN there were 'long waiting lists for medical check-ups' and staff shortages at medical facilities and hospitals. Calgary dropped all the way from fifth place in 2024 to 18th in 2025. All the cities covered by the index in the UK (London, Manchester and Edinburgh) also dropped down the ranks, 'following widespread riots and rising homelessness,' the EIU noted. The highest US city on the list was Honolulu, Hawaii at number 23. Al Khobar in Saudi Arabia climbed the most places up the ranking this year from 148th to 135th.
