Off-the-plan patsies clash with developers as Sydney apartment bust builds

Wednesday, 4 April 2018

The AFR has cautionary tale today for Sydney’s army of would-be landlords:

Prices are falling in Sydney’s off-the-plan apartment market, creating conflict between vendors who want to sell and developers who want to maintain prices.

Investor Chris Pearson contracted to buy an apartment in Blacktown’s first high-rise tower in 2015 for $649,000.

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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.