By | 9th Jan 24

Projected new apartments starts this year are at the lowest on record. This is at a time when we need housing the most and the $360 billion building sector is bracing for another year with more insolvencies.


Who would have thought a house in Reservoir would sell for $1.74 million a decade ago?  I remember my parents buying a house in Willoughby Street, Reservoir in 1993 for $142,000 and now a newly built home in Jenkin Street, Reservoir on only 590sqm land sold for $1.74 million.        


The modern apartment inner city market continues to see weak results. An apartment in Palmerston Crecent, South Melbourne with city views sold for $730,000 after it was purchased for $750,000 in 2016 and selling at a loss eight years later.