All Topics / Help Needed! / Melbourne appartment market.

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  • Profile photo of cattcatt
    Participant
    @catt
    Join Date: 2004
    Post Count: 19
    January 16, 2006 - 7:14 pm

    Just wondered if the Inner city appartment market may be good buying now or to wait. I had in mind to get a 1 bedroom in Southbank. I believe that there is an increasing demand for single occupant dwellings . John

    John Groeneveld

    Profile photo of MichaelYardneyMichaelYardney
    Participant
    @michaelyardney
    Join Date: 2001
    Post Count: 616
    January 17, 2006 - 12:13 pm

    John

    You are correct that there is an increasing supply of ingle occupants, but:
    1. There is still an oversupply in Southbank with about 2,000 new unsold apartments being completed before the end of this year.

    2. Single occupants still like space and many are going for a 2 bedroom apartment. If you can afford one, you will get more bang for your bucks with a 2 bedroom apartment.

    Having said that, there are some selected lowrise blocks of apartments in Southbank that offer good value and are always
    leased.

    We bought 2 apartments in Southbank for clients in December in low rise blocks.

    If you want to know the details of these purchases email or send me a PM

    Michael Yardney
    METROPOLE PROPERTIES
    Author of Australia’s leading property e-magazine.
    Join over 10,000 readers each month.
    FREE subscription http://www.PropertyUpdate.com.au

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