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Buying apartments off plan leads to losses in Melbourne

Melbourne Apartment prices

Apartments in Melbourne’s Docklands, CBD and Southbank are being resold up to 24 per cent below their previous off-the-plan purchase price, catching out vendors, many of whom bought them from investment companies or spruikers.

Most are small studio or one-bedders, acquired after the global financial crisis.

Concerns are building about the oversupply situation as a record number of apartments near completion, and banks raise deposit requirements.

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