Apartments can be past their peak
“For those that purchased at those higher periods, where the market had seen consistent growth which helped support those higher values, and where body corporate fees (which are of course a big factor in unit values) were much lower, there has continued to be pain in the market,” he said.
“Those units are now 10 years older, generally have much higher costs and unless they were in key areas such as the CBD or have been updated over time, might now offer less.
“Looking at the Core Logic report as a whole though, once again this is focused on a gross profit or loss. It doesn’t take into account anything further that might have been spent, any depreciation that might have been able to be claimed or the amount of the profit or loss.
“Whatever the circumstances, this market is still a case of making sure you have the right strategy in place to provide the best result, whether its to maximise profit or minimise loss.”