Australians are building smaller houses and bigger apartments
Australians are increasingly moving towards apartments, now nearly half of all homes being built according to the Australian Bureau of Statistics.
Australians are increasingly moving towards apartments, now nearly half of all homes being built according to the Australian Bureau of Statistics.
With no pipeline of new dwellings being constructed, the volume of apartments being marketed has nearly halved over the past 12 months.
The huge flood of new apartment construction in recent times has left apartment prices close to the city stagnating.
Financial advisors and mortgage brokers are being offered big commissions – up to 30 per cent bigger than last year – to sell completed apartments during the downturn.
Local councils will be handing over the management of Victoria’s riskiest apartment buildings with combustible cladding to the State Government.
In sobering news for off-the-plan investors, new research has revealed more than half of new apartments bought in Melbourne and then re-sold in the last five years have been re-sold at a loss.
Borrowing for off-the-plan apartments is getting tougher as lenders crackdown on property valuations for loan approvals.
New standards are in for Victorian apartments to make sure new constructions have enough light, air and storage.
Investors looking to buy an apartment don’t always have to choose a two bedroom unit over a one bedroom to get great return
The boom in apartment building looks set to end, with new research predicting a 50 per cent reduction by 2020.