Nata The punters are still buying CBD units off the plan. Perth is doing exactly the same as Melbourne. Huge oversupply of units, while the real market is out in the burbs. He said long listing times were usually because owners had misread the market.
Serves them right, it is a business and you have to give the customers what they want.
The trend is against CBD the action in Perth is development sites near facilities and stand alone houses. Eg Balga, Rocky, Girraween, even Mandurah.
Units and luxury are always the last to go up and the first to come down. Have a look at Highgate, St Marks 130 units completed and a heap for rent yet a new block of 58 being built over the road in Harold Street is 80% sold, proof their is one born every minute.
