The Daily Melbourne — Melbourne news, every day

G'day and welcome to Melbourne in Five Minutes. We're looking at some important stories shaping our city and region today. Property investors across Victoria are adapting to negative gearing reforms, with young couples already changing their purchase strategies in response to the new tax rules. Out in Ballarat, one young rider is making waves on the world stage, targeting a world championship in downhill mountain biking and proving that regional athletes can compete at elite international levels. Meanwhile, Ballarat Council has approved its budget after a tense council chamber meeting, with the mayor casting a deciding vote to break a deadlock over rate rises. It's a sign of real financial pressures emerging for ratepayers in the region. Moving to emergency services, Bendigo Health has experienced extreme ambulance ramping, with a code black alert exposing strain on the regional ambulance system. And finally, a major infrastructure project is moving ahead with fifty-five million dollars confirmed for a new freight distribution hub on the Ring Road, which will reshape how Melbourne handles regional trade logistics. That's what's happening around Victoria today. Have a great one.