The trouble is that we dont need anymore tiny little boxes for people to live in who is going to live in those things? Investors are not interested in buying anymore as the rent's have declined and the tenants have gone. Units use to go up every year but have been in the decline for the last 3-5 years and now we have a glut in the market.
STOP IT stop building these tiny apartments for pete's sake we have enough of them.
Australians have been so spoilt with being able to buy a house and land with some space around them they have taken a long time to succumb to the fact they "might" have to buy an apartment. They are coming around to it but the baby boomers are not wanting 113m2 of apartment in large complexes.
DOWNSIZERS - that's your market and has been for the last 5 years. These people dont want to be put into a pokey apartment. Downsizers want some space so why are you not building 3 x 2 apartments that are spacious and stop calling them penthouses so you can grab 2 to 3 million for them. Western Suburbs have plenty of people wanting to downsize and they will look at groups of 4 apartments not with huge strata fees.
Seriously State Government I dont know who is doing the stroke of the pen but these people have not much knowledge of real estate and by just allowing the plonking of big apartment buildings everywhere along the railway line and highways is not the damn answer.
Fortunately there is a developer out there that has a great plan with HUGE apartments and a vision of the downsizers so hopefully in a couple of years that might come onto the market for the downsizers, single women etc.
MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!
SELLING MOSMAN PARK & THE WESTERN SUBURBS!!
KEEPING IT REAL IS OUR MOTTO!!
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