From: Kevin Frey
Hello,
I am new to property investment and considering "jumping in". I don't know whether the time is right or not and on the one hand I feel the marketing is peaking out and on the other hand I don't want to wait around for 5 years and then think "gee, I wish I had ...".
So, my question relates to the high-rise accommodation being built at Southbank on the harbour.
Several people have said to me avoid locations that can just go "up and up and up" (height-wise) because it's easy to end-up with oversupply. Southbank will obviously be a lifestyle area.
I'm comparing it to Port Melbourne which, from which I was reading, had units selling for $250K perhaps 3 years ago that are now worth 2-3 times that.
There are so many questions I'd like to ask, I guess I'll just start with that.
Thanks
Kevin.
Hello,
I am new to property investment and considering "jumping in". I don't know whether the time is right or not and on the one hand I feel the marketing is peaking out and on the other hand I don't want to wait around for 5 years and then think "gee, I wish I had ...".
So, my question relates to the high-rise accommodation being built at Southbank on the harbour.
Several people have said to me avoid locations that can just go "up and up and up" (height-wise) because it's easy to end-up with oversupply. Southbank will obviously be a lifestyle area.
I'm comparing it to Port Melbourne which, from which I was reading, had units selling for $250K perhaps 3 years ago that are now worth 2-3 times that.
There are so many questions I'd like to ask, I guess I'll just start with that.
Thanks
Kevin.
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