Wry & Dry

Don't buy off the Plan.

W&D has long held the maximum for wannabe apartment investors, "Don't buy off the Plan.  Buy off the man who bought off the Plan".

Well, the latest research from CoreLogic RP Data backs up W&D's view.  Sort of.  Across Australia, loss-making apartment sales in the June quarter rose to 12.6% of total sales.  And that excludes transaction costs, such as stamp duty, agent's fees, etc.

The data also showed that 12% of sales of residential property by investors (i.e. not owner-occupiers) were made at a loss.  And that was after an average holding period of 6 years.  The average holding period for a profitable sale just under 10 years.

W&D leaves it to readers to join the dots.