Bloomberg Australia’s Victoria state is “very confident” the winning bid for a 50-year lease to operate the Port of Melbourne, which is valued at between $4 billion and $6 billion, will exceed the book price, state Premier Daniel Andrews said. “All the market expectation, all the commentators talk about us exceeding the price that we’ve booked, and we are …

  Bloomberg Sydney’s home values posted the biggest rise in 10 months in May, as lower mortgage rates and a partial easing of lending standards revived buyers’ appetite. Prices in the nation’s largest city climbed 3.1 percent in May, the fifth straight month of gains and the most among state capitals, according to research firm CoreLogic Inc. The increase, the …

  Bloomberg Apartment owners with properties in San Francisco and New York tumbled after landlord Equity Residential said new leases in those cities — two of the most expensive U.S. rental markets — are falling short of revenue expectations. Essex Property Trust Inc., a real estate investment trust focused on the West Coast, slid 3.7 percent for the biggest decline …