Well, Melbourne CBD has certainly done a turnaround

The experts got it wrong again - every single one of them .
As long as you can get tenants in the door without too much trouble, the rest will follow.
Sounds like you bought in at the worst of it.

 

The same thing will happen in Brisbane.....the oversupply will be soaked up quickly due to the lack of building.

The migrations rates into Brisbane is also increasing....this is at the expense of Sydney....

 

Unfortunately the recent and continuing employment data does not match this statement. Jobs growth remains strong & unemployment rate continues to fall exceeding market expectations.

 

Melbourne was the only major state to loose full time jobs in thr september data. 12 month full time growth is less than WA and NSW... its not the country leader it was 12 months ago, and rate of growth is notably down.

 

On a separate note, does anybody know how many jobs were lost as a result of closure of Holden?

 

The production facility closure is in Adelaide not Melbourne,
As somebody in the industry (but not Holden) Holden h/o jobs have decreased significantly over the past 2-3 years as engineering & other roles are no longer required as converting to importing. The engine production plant in port Melbourne closed in 2016. So no or minimal Melb jobs lost recently as these had already been phased out over the previous years.

 

Hello everybody. Reading through the property chat, it seems like I am the only one aiming for high rise apartment in the CBD. From where I am now, I love the conveniences, views and security of an apartment. So it seems that I am weird here.

 

I have bought and sold many apartments in the past so Nothing wrong with high rise apartments I would suggest that u get one where all the underground stations are planned and being build

 

got a link?

 

Stations | Metro Tunnel

 

Maybe thinking Toyota in altona? Estimates range from 2,500 direct to 10,000 indirect. Problem is many employees were due for retirement and just hanging out for the massive redundancy packages. Others have gone into full time training from the government support package, which removes them from the labour force. Most impact will be reduced business with suppliers, so over time they will be winding down their staff

 

I have bought one at Lonsdale Street. It is an Australian developer as I trust local developers compared to overseas ones. I hope it is alright.

 

Even though there is our own developer selling West side. I really hope so.

 

Local developers - Lonsdale you mean central equity (closer to spencer st) and the Singaporean group far east organization building on the side. there is a lot of stock there atm.

 

personally and no offence - it is actually in a bit of the seedy part - (men's gallery etc)

 

Is this the western end of the CBD?

Given just how many apartments are going up there my prediction is it’s going to transform into a much more residential area. Currently you have lots of business centric stuff - 90% of restaurants and cafes there don’t even open on weekends. I recon we’ll see this slowly evolve.

 

Those new stocks will always be rental play targeted for those who aim more for high cash flow and low or none capital growth. Although if you have bought any big three bedders otp few years ago, it would probably have grown 10-20%.

 

@ATANG again there are many places that have huge 3-4 bedders - some apartments back in the late 90s were done as lofts (and talking about 140-170sqm) that is like a house in pt cook. You have to know where to look, off Jeffcott st, Latrobe st, even in Wells st off southbank. they don't make these sizes anymore. These places were yield every high gains as no developer will even build like these again

 

Thats what i am saying, these are prob the only ones that would grow in CG over time in the cbd. Size is the most important factor buying in the cbd.