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1.Market Observations, 8.Was Sticky

31 Mar 2016 (AFR) – Melbourne units fall an average 11.5pc in year one: WBP

(31 March 2016, AFR, p2, by Michael Bleby)

‘Central Melbourne off-the-plan apartments fell about 11 per cent in the first year between their original purchase and pre-settlement valuation, figures from valuation firm WBP Property Group show. The average 11.5 per cent decline – equivalent to nearly $68,000 in dollar terms – in the value of 14 apartments WBP valued within a year of their sale date gives an indication of the extra equity buyers of off-the-plan apartments may have to produce when the projects into which they have bought come due to settle. ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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