Properties including strata apartments were selling like hotcakes in 2017 but the market has suffered a bit of sluggishness recently. In fact, some homebuyers are finding it quite difficult to pay at settlement time due to the freefalling prices of real estate properties. We get the full detail in this Sydney Morning Herald news article by Simon Johanson & Carolyn Cummins.
“In a gloomy outlook for the country’s largest real estate developers, UBS says Mirvac, Lendlease and Stockland face a higher risk of settlements falling over because of their exposure to projects sold to buyers at the 2017 peak of the property cycle,” they write. They also warn that there might be more pain to come for these buyers in the future.
The full article will give you a more in-depth report and us at Vertical Living magazine urge you to read it. It might just help you prepare for what’s to come.