apartments in north canberra

[S1mon]

Curious as to peoples opinions on apartments in canberra, buying, rental market, growth etc.. particularly north. Seems to be an obvious oversupply. An agent told me a few of the current off the plans for sale may not go ahead as they wont get the pre sales required (eg linc in belco).

I purchased an off the plan 1 beddy at macquarie space in jamieson years ago....yes what a shemozzle that was .. existing contracts are no more...and they are starting the process again (the new developer who bought from the receivers)... so for me its decision time

 

[ChrisA1]

While I have an apartment in Bruce, I am looking to move it as the Belconnen area has become 'apartment city' and I'm just not that sure how many Canberrans want to be apartment dwellers. Combining the higher purchase prices, leading to lower yields and less room to negotiate, I think better deals can be found elsewhere....

 

[geoffw]

Oversupply is right.

And it's only going to get worse in the short term- but given the oversupply and trouble preselling, I'm not sure if this is going to happen.