New Apartments Inner West Melbourne

Hi Everyone, I'm new here! :)

I know there is a massive apartment glut at the moment in Melbourne CBD but wondered what your thoughts are on newer apartments in the inner west (eg Williamstown, Newport, Spotswood, Yarrville, Maribyrnong).

Although I prefer a house, unfortunately my budget looks like its going to be more sensible to go for an apartment. I have seen a couple of apartments which seem to be reasonably priced stick on the market for ages (one with a downwards price revision). I'm also looking at one OTP (but am very wary given all the pitfalls that can come with OTP, although I love the location.

Is there something not quite right about new apartments full stop in Melbourne at the moment?

I should add that this will be my PPOR for at least a couple of years but may become an IP over time so I want to get it right.

Any insights would be appreciated! :)
 
If you're buying for a PPOR and this is the area and type of property you plan to live in long term, go for it!!

If you're after an IP do some more research, wrong area!!
 
No land. Horrible per sqm entry price. Couldn't think of much worse investments atm.

Agree.

Novice2014, if these are your chosen areas of PPOR, instead of a new apartment perhaps consider a used town house or villa unit in these suburbs. Sure it won't be new, however you will be getting some land component albeit not the same as a stand alone house, you also won't be exposed to buying one of the numerous identical product that may turn sour if there are too many investors in the mix.
 
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