Boy are the inner-city apartment markets of Sydney and Melbourne behaving differently.
And these differences are important for property investors to understand.
Looking back a few years, following their post Global Financial Crisis downturn, the inner city apartment markets of both Sydney and Melbourne boomed, in part due to investor demand and in part helped by low stock levels.
But over the ensuing years our two major CBD markets behaved very differently and now they are poles apart.
While limited new apartment stock was built in Sydney, Melbourne now has a significant inner city apartment market oversupply which is likely to cloud its market for a number of years yet.
You see…Melbourne town planners have approved the construction of over 20,000 apartments to be built in the central business district over the next four years.
Author: MICHAEL YARDNEY