Don’t buy a Sydney or Melbourne apartment – MacroBusiness

While the Australian property market as whole is on a tear, reporting strong growth across all major markets and regional areas, there are pockets where rents are going backwards and present great risks to budding property investors.
In particular, high-rise apartments across Sydney and Melbourne are suffering from a strong supply response that has run head long into collapsing student and migrant demand arising from Australia’s international border closure.
The latest Domain data is a case in point,…

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