AFR is reporting on panicked sellers in Melbourne -I can’t post the whole article as it is behind a paywall.
Melbourne land speculators panicking as settlements loom
Speculators who hoped to get rich on a boom in Melbourne land prices are panicking as settlements loom and they can't find developers to on-sell their sites to, according to Resi Ventures's Khurram Saeed, who has been developing for 15 years.
Mr Saeed said he was getting one call a week from panicked speculators, including one buyer who had put down $21 million in deposits on a number of sites and risked losing all their money.
