wave of new apartments being developed in sydney

[Benvolio]

It seems every where i look in sydney there are new blocks of units going up. What do you guys think will be the result in the long term?

Will this cause existing unit prices to plateau? or will the excess in demand drive up prices in general?

 

[china]

As an investor or someone looking to buy a PPOR, I would avoid units in these massive new developments. Simply with 500 units in a complex, why on earth would your particular one grow in value? When it is time to sell, why would someone buy yours in particular?

Furthermore they usually have high strata levies.

I think that they are only good for renters. They are attractive to tenants when they are new and will struggle as they age.

Having said that, the Mirvac mega-plexes near Chatswood railway station have actually shown a bit of capital growth over the past few years.

 

[ndpjai]

It always about location. Now a days people prefer everything within walking distance including work, shopping, entertainment etc. As china's post mentioned chatswood with mega complex has grown is because of 'location'.

If you can get an apartment with 8/10 go for it, because its too difficult to get a perfect unit. Where I am staying next to me, 300 apartments came, I was too worried, even I thought of selling, but I haven't and now my apartment has grown 80% in 6 1/2 years, not bad.

Good luck.