Melbourne apartment market oversupplied?

[tobe]

http://www.theage.com.au/business/p...istoric-high-20140706-zsxyx.html?rand=9876593

From todays age,


More apartments are being built in Melbourne than at any time in the city's history, which experts say is being driven largely by overseas investment.

It has also sparked fears of a glut of new apartments, causing property prices to drop once they come to be re-sold.

Almost 6000 homes have been completed or are set to be finished by the end of this year, nearly three times the annual average over the past decade, City of Melbourne development activity data shows.



Read more: http://www.smh.com.au/business/prop...storic-high-20140706-zsxyx.html#ixzz36jx8aYcP

 

[eKwatee]

http://www.theage.com.au/business/p...istoric-high-20140706-zsxyx.html?rand=9876593

From todays age,


More apartments are being built in Melbourne than at any time in the city's history, which experts say is being driven largely by overseas investment.

It has also sparked fears of a glut of new apartments, causing property prices to drop once they come to be re-sold.

Almost 6000 homes have been completed or are set to be finished by the end of this year, nearly three times the annual average over the past decade, City of Melbourne development activity data shows.



Read more: http://www.smh.com.au/business/prop...storic-high-20140706-zsxyx.html#ixzz36jx8aYcP

and it looks like there are even more to come.

article HERE

 

[S.T]

Anyone looking at commercial/retail in CBD might be in for some huge growth down the track with all these new residents.

 

[Melbournian]

there is a new eatery near my place and it is always packed every day.

i think yes if you get the newer ones. i only hold 1 apartment so minimal risk for me as it is and the one off my street 2 bed 2 bath slightly less than 100sqm sold for 835K at auction which is crazy.

where else the one where i went to off the plan say "victorian one" had 2 bedrooms at 500K 55sqm and 3 bedrooms 800K and above 77 sqm, most of those are likely to be at risk.