Turned down for an Apartment Rental Today

[andyj]

@still

In Melb, when you turn up to see anything that is reasonably priced and within a 10km radius of the CBD, you have 20+ people to compete with. This is just renting, don’t get me started on actually buying :fume:

Mainlanders?

[still]

@andyj

[quote=“still”]In Melb, when you turn up to see anything that is reasonably priced and within a 10km radius of the CBD, you have 20+ people to compete with. This is just renting, don’t get me started on actually buying :fume:

Mainlanders?[/quote]

Partially, there are certainly a significant portion of immigrants looking to buy (myself included haha). A random figure I was given for foreign investors is 2% of the auctions though these don’t tend to be at the lower-end of the property spectrum. The largest chunk is from those purchasing investment property as there are certain tax benefits which make it quite attractive.

As for the renting bit, that’s everyone else.