Commentary

The Hidden Cash in Melbourne’s Property Blocks

The Hidden Cash in Melbourne’s Property Blocks

It happened around 5:45pm last night while I was watching cartoons with my daughter. We heard a knock on the door.

Who could this be, we wondered?

It turned out to be a neighbour, Ron, standing on the front door step in the cold.

We’d never met before.

Come in,’ I said. I went to introduce my daughter. ’My daughter Ema is just watching TV

In fact, she’d suddenly disappeared under the couch! All we could see was a pair of feet sticking out.

Ron was visiting because his property backed on to ours. He plans to knock down his house and put two units on the block.

The only catch is that he’d lived in that house since 1967, which kindled some memories…

You know’ Ron said, ‘this place of yours used to be all trees when I first moved into this neighbourhood. We had to clear heaps of them off our block as well. Now were getting rid of the whole house. Just the permits from the council have taken over six months.

Where are you going to live while they build the units?

In Narre Warren with our daughter. Then well move into one of the units.

And rent the other one?

No, well sell it! Im not sure about renting. Who knows what type of people wed get

He looked around my place.

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