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: -
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.Bye for now