Parasites swarm Brisbane property bust

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The pet shop gallahs are squawking madly around Brisvegas property today. Earlier we had the news that:

Apartments bought off the plan at the start of Brisbane’s unprecedented unit-construction wave are selling at losses of up to 36 per cent, underscoring concerns from the Reserve Bank about the city’s concentrated inner-city market.

Property searches of high-rise apartment towers in Hamilton, Bowen Hills and Fortitude Valley built about five years ago show most sales this year had been at a loss.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.