https://www.google.com.au/search?q=brisbane-offtheplan-unit-…
So, $150k loss from OTP resale in Riverfront Hamilton 2 bedder = now $420k
The start of the fall ? Will this be big enough to affect landed properties ?
It's Happening ! Brisbane Apartment Unit Market Sliding
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I expect the prices of units and townhouses in Brisbane will be stagnant for a while, unless you really need to sell. Unit prices hasn't gone up for the last few years mainly because there is so much construction going on and new unit prices have stayed the same. This means older units will be hard to sell/rent due to new units being so affordable. I think there is an oversupply of units/townhouses in Brisbane. I doubt there will be much of a fall though, as landed property prices are still going up.
I predict a fall in the number of Auctions in Melbourne this coming Saturday.
Wow, an OTP apartment being sold at a loss after being bought from a developer?
Who ever would have thought this?Case and point: 2 bdr apartments in an OTP development near me sold for circa $700k OTP. Given apartments 10 years old in very good condition are selling for $550k, at what point exactly did they think OTP was a good idea?
Please let it be over, I want my kids to leave home before they have thier own.
Too many influencial people have a vested interest in the property market to allow the price to stop growing, let alone stop altogether.
You'll have to scrape bankers and pollies off the sidewalk (from free diving off their penthouses) before you see the property market tank.
Penthouses value won't dive.
Those tens of thousands of 1 or 2 bedder shoeboxes units will bleed hard.
The residents of said penthouses may dive if the said shoeboxes devalue drastically.
I would say 2 bedder shoeboxes largely owned by average middle class or first home buyers.
Those top 1% living in penthouses already left the market and they won't even touch such cheap stocks to begin with.
In the end, it's the middle class that suffers and go belly up.
A crash will only affect the 99 or 95%. People will stop spending and it will start to knock on other sectors of the economy. Say goodbye to retail and service jobs. Wonder who would get laid off first? Banks will tighten up their lending criteria and those with lots of cash will swoop in to buy everything up at discount prices. Rinse and repeat.
I don't have property but a soft landing is the best we can hope for.
RUN FOR THE HILLS! SELL EVERYTHING AND BUY GOLD BULLION, IT'S HAPPENING!
(on the other hand much of the market is made up of owner occupiers and everyone else still needs a place to live).