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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.
Pamela
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.
Pamela
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