That's how it usually is when Melbourne developers book hotel rooms in Sydney and hand out flyers at train stations. I wonder if Sydney developers are doing the same thing in Melbourne? Perhaps not given Sydney prices would seem crazy even to Melbourne people.
Inner city & Docklands OTP apartments yes due to massive supply coming & increased costs for O/S buyers, they are already being resold below purchase price of 5 years ago. Affordable housing is still very hot.
@Depreciator , even I got email with Melbourne prop expo. I haven't even signed up for anything to do with Melbourne market. Sign of the times?
Everybody knows about apartments glut in Melbourne and Brisbane. Looking at the high number of marketing emails from townhouse developers, I believe next glut would happen in that space in Melbourne. Every other person you meet has plans to sub-divide and build townhouses.
That ad is common for the company that markets them in southbank. They have been doing this since the 90s in asia and even to investors in london. nothing new about it. No doubt there is a glut for apartments in southbank. @Anki i think you are right there maybe a lot of townhouses but this will only affect suburbs which are lower priced. The townhouses in premium suburbs would not be affected- because people want to live in the suburb and can't afford to pay the high cost of buying a large plot of land with a single dwelling. Also with neighbourhood zone restricting townhouse subdivision to 400-500 sqm per dwelling - people can't even develop making the demand for units townhouses even greater such as kew. i still remember in clayton, townhouses going for 500K now it is more like 800Kish I wouldn't buy a townhouse in sunshine but i would buy a townhouse in camberwell, canterbury or even burwood.
I think oversupply topic has been in hype for the past 10 years.... but key things in buying in Melbourne are really... * Buy as much as land content as possible (obviously depends on your affordability, located within 20km of the cbd, regardless of east, west, south, north). Forget about school zones or whatever as those have gone through the roof. For apartments, find something as spacious as possible regardless of one, two, three bedders, so long it's big. * Buy as close to train station as possible * Buy as much character as possible (i.e. art deco, warehouse, villa, etc) * Car parking is good but not a must if close to train station Sticking to these rules, you will be fine as people will still fork out more money to buy from you as these are the properties most lacking in current supplies of stocks in Melb.
