With recent negativity in reports tabling the state of the real estate market (especially in Sydney and Melbourne) there are still some very good news stories that should be noted as well.

One such story relates to Mirvac’s beautiful Unison building, located in the heart of Newstead, and showcasing a variety of views from the City to the river and beyond! Sharon and I have sold many apartments here off the plan in recent years and we are currently very active in the resale market helping sellers achieve some very satisfying price growth of late.

An article in a prominent business week magazine mentions the real estate downturn in Sydney and how a 4 bedroom home with private Jetty on Sydney’s northern beaches had a mammoth 38% price drop which of course saw a savvy buyer have a win!

At Unison, whilst the standard 1 and 2 bedroom market is somewhat unchanged, the “top end” of large owner occupier 2 bedrooms, the flow through 3 beds and Pavilions and penthouses are seeing good increases.

Please note the following examples: -

• Apartment 1204 is a beautiful large penthouse with breathtaking river and city views and sold not too long ago for over the $2 million mark. In just over a year it achieved a price increase of $332,000 equating to a rise of 17%. Likewise, another pavilion has enjoyed a price increase in the same time frame of just over a year of 13%.
• The stunning corner 2 beds which boast a total square meterage of 135 sqm have seen prices increase anywhere from $30,000 to $75,000 also in just over 12 months.
• Finally, the 3 bedroom apartments have also risen in value with lot 2133 selling from developer Mirvac for $1,122,000 in Dec 2017 and reselling in Sept 2017 for $1,195,000.

So, there you have it! I believe that quality apartments in good locations with good amenity and proximity to transport will stand you in good stead through the tough times. Of course, the days of buying off the plan and flicking at a profit before settlement are well and truly over, however if you can buy for the long term with all the fundamentals that make a quality investment hopefully you can have a sound property which won’t take you on a financial emotional roller coaster.