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1.Market Observations

31 Jan 2013 (AFR) – Glut of new Melbourne high-rise units a downer

(31 Jan 2013, AFR, p37, Rebecca Thistleton)

‘High-rise apartments sold off the plan at the height of Melbourne’s property boom are being completed as thousands more are approved, pushing the inner-city market to oversupply.’

‘But developers are betting that the CBD will continue to be a popular choice for both owner-occupiers and investors, particularly if the design standard is high. The 71-storey, 581-unit Tower Melbourne project will be officially launched on Saturday. However, sales began last year, before planning approval was granted.’

Read more at AFR.com (might need AFR login access)

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