Melbourne may be the most liveable city in the world but it’s obviously not the cheapest. The latest indicator of how ridiculous the housing prices have become in our fair city, a wall (yes, just one exterior wall) in the Melbourne CBD has been sold to a private investor for $3.05 million. It’s opposite Flinders Street station currently has a large electronic billboard attached to it, which is leased to an advertising company.

The wall faces the busy Flinders and Swanston street intersection, making it a lucrative position for advertisers and for the buyers, as it costs $357,000 p.a. to rent the billboard. Agent Graeme Watson told the ABC the permit for the sign on the wall lasts for another 25 years and no development can take place which would cover the sign until that period is over, making it a pretty sound investment during that time.

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