Oversupply in Melbourne



From: Pamela Richardson

Dear Melbourne investors

I work in the construction industry and cannot help but notice that there's a surfeit of flats and apartments being built out there. Capital spending by the State Gov. had to come to an end for a while after Kennett's exuberant spending and a lackluster investment in building by the commercial sector still prevails. Most of what is being built now are apartment towers and blocks. This fact, together with the knowledge that a huge amount of small medium density residential development is threading its way through the suburbs, makes me a little fearful of vacancy rates in the next few years. Has anyone any thoughts on this? Perhaps Sydney-siders have already been through a period of oversupply and can allay these concerns. Has this already been discussed?

Also - I apologise as it would have been asked before but I cannot find any posting - can anyone recommend a good broker in Melbourne (who I can follow up if I receive reassuring responses to my first question on oversupply!)

thanks for any assistance and I wish I could contribute some useful information to the forum but I am a raw beginner in property investing.

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Reply: 1
From: Dale Gatherum-Goss

Hi Pamela

If you mean mortgage broker, I can recommend Rolf's offsider, Medine Simmons.

A number of my clients have used Medine's services and the feedback has all been positive. Please feel free to email me if you would like more of her details.

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