Low bank valuations for OTP townhouses in Canberra?

Hi

Wondering if people know the rates of bank valuations coming in lower than the purchase price in Canberra for an off the plan townhouse? I know Syd and Melb have pretty bad results for units but wasn't sure if the same was likely in Canberra and for a townhouse?

Cheers

 

Any off the plan purchase has potential for low valuations, buyer beware.
Can you make the contract subject to a finance clause? Allows your broker time to get a valuation compelted before going unconditional on the contract and paying your full deposit.

 

I haven't done a lot of OTP loans in Canberra recently - but haven't had any particular issues previously. Certainly not compared to Melb/Syd where it's quite common for the val to come in lower than purchase price.

Cheers

Jamie

 

To be honest anything OTP apartment these days im scared, including Sydney.

Lucky majority of then come back at purchase price.