Close to one in five properties in apartment-heavy neighbourhoods such as Ryde and Strathfield in Sydney and the Melbourne CBD and Stonnington are selling at a loss, new figures show.
Nervous investors and first home buyers have been turning away from cookie-cutter high-rise towers and choosing boutique unit blocks where possible, mindful of the high-profile cracking Opal Tower and the desire for open space through the pandemic.
A wave of new apartment supply in these areas in recent years is leaving some sellers with little choice but to accept less than what they paid.
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