Off-the-plan “timebomb”: two-thirds of Melbourne apartments underwater
Advertisement
The poison of negative equity is spreading with two-thirds of Melbourne off-the-plan apartment buyers under water, according to BIS Oxford Economics. From The AFR:
Two out of three Melbourne apartments sold off the plan during the past eight years have made no price gains, or have lost money upon resale, despite a property boom and record immigration…
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement