Japanese corporate giants move on Melbourne to fund housing fix

A renders of the future Northborne estate in Wollert, Victoria, which is being built as a joint venture with a major Japanese corporation. A new wave of Asian money pouring into Melbourne will be building the city’s newest houses and the streets they’re built along within months. But while a decade ago a tidal wave of Chinese wealth left the city’s apartment market overwhelmed and oversupplied, the latest forays of Japanese capital are seizing on the city’s waning supply of housing against a surging population. And housing experts have warned there is no hope of fixing Victoria’s housing crisis without the international influx. RELATED: Albanese’s 1.2 million home target in crisis as nation falls behind Metricon builds China-made Melbourne homes in just 20 days Japanese investors surge into Australian property as Chinese sell At one of Melbourne’s newest housing meccas, the Northborne estate in Wollert, Australian developer YourLand has signed a joint venture partnership with Osaka, Japan, based corporate giant Hankyu Hanshin. It’s the first time the firm will have backed a Victorian development site, and YourLand head of sales Adam De Pasquale said the result of their financial in...