Apartment over supply

Discussion in 'Where to Buy' started by LifesGood, 20th Nov, 2016.

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  1. LifesGood

    LifesGood Well-Known Member

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    Perth WA
    The most concerning stat I have seen in a while!

    "In Melbourne alone, there are over 18,000 apartments under construction that are scheduled for completion within the next 18 months, according to a REA Group analysis. Historically, Melbourne CBD has added 1500 apartments every 18 months for more than a decade."

    CBD apartment prices are dropping nationally
     
    Gingin likes this.
  2. ellejay

    ellejay Well-Known Member

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    Kimberley and NZ
    If someone was practically giving one of these away I'd be tempted Keeping a secret stash of money aside just in case :)
     
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  3. The Y-man

    The Y-man Moderator Staff Member

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  4. Scott Townsend

    Scott Townsend Well-Known Member

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    16th Aug, 2015
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    Location:
    Perth
    Perth the same, 1300+ available to rent in the City.

    A friend who bought in 2014 has dropped $100k value in East Perth.

    Im currently renting a 2x2x1 on the 10th floor however after searching realestate.com I've found a couple the exact same apartment 2x2x2 on the 19th (views) for $50 - $60 per week less. Will either be moving up a few floors or asking for a 10% rent reduction.

    Sad for the owners as they purchased these things in the mid $600s to $700k and are currently renting for $500pw
     
    LifesGood likes this.