You are viewing:-
you're reading...
1.Market Observations, 8.Was Sticky

12 July 2018 (AFR) – Off-the-plan Parramatta apartment loses value before lived in: Caution on pricing from valuers

(12 July 2018, AFR, p35, by Matthew Cranston)

Top ten largest increase and decrease in dwelling values, 2017/18 financial year, Capital city SA4 regions

Top ten largest increase and decrease in dwelling values, 2017/18 financial year, Capital city SA4 regions

‘They are described as “sun-kissed apartments” in “the heart of all the action”, “perfectly positioned to cater to your every connectivity and lifestyle needs”. With Westfield Parramatta at your doorstep “you will love calling this sunlit space home”. But when the apartment market turns, no amount of property spin will save an off-the-plan buyer from negative equity. A two-bedroom, two-bathroom, 71-square-metre apartment in the high-rise apartment tower Skyrise purchased off the plan in May 2015 for $767,000 has just been valued for the bank. The valuers JLL have confirmed in a valuation report viewed by The Australian Financial Review that the new value is $720,000. A discount of more than 6 per cent over a three-year period. And the apartment is only just ready to be lived in.’

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

Advertisements

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

Advertisements
%d bloggers like this: