DESPITE increasing building costs Triguboff remains upbeat about the apartment market … why wouldn’t he? The * Gatekeepers in Australia remain exempt from Anti-money laundering laws … with the Australian Housing Market opening up to Singapore, Malaysia, India …
THE latest from Meriton … it has lodged plans for a 30 storey apartment tower comprising 211 apartments above six levels of basement parking in Oxford Street EPPING close to the business area and Metro station. It will rise above its neighbours of 15 and 22 storeys.
Following the scandal of the Opal Tower, the Mascot Towers and the release of reports concerning the thousands of defective developments there was buyer resistance.
But with the housing boom a large cohort were priced out of detached housing, and had to resort to apartments reducing supply.
For those developers remaining in the market aside from Meriton, and following all the bad press, they are concentrating on smaller-scale, high-quality projects.
However MERITON is maintaining its high-rise developments to capture not only overseas investors (buyers), local investors, and the growing rental market for Australians locked out …
Storey upon storey Meriton makes a motza!
Did Harry lead the way through the Urban Taskforce for high immigration to boost sales in the apartment market? Cough … cough …
Harry has said:
“China has more than 1 billion people, and they love Australia. I think they love Australia as much as we love Australia. So there will always be enough of them that will buy.”
“The problem with Australians is they are very slow. They ask their lawyer, they ask their financial adviser, they ask their family, they ask everybody. The Chinese don’t ask anybody, they come off the plane, buy their unit and go.”
IN fact many stayed having gained a Permanent Resident Visa with benefits …
From early 2022 MERITON has experienced 50% of its sales from returning investors with a 10% growth in its rental market over the past 12 months to grow even more with the return of students and migrants …
MEANWHILE Meriton has massive projects currently proceeding in Macquarie Park (two), Sydney Olympic Park, Parramatta (66 STOREYS) and …. in the Gold Coast Queensland … Melbourne …
WITH international borders opening increases the competition and prices of these dwellings for Australians especially when competing with ‘hot money’ …
Triguboff said he expected unit prices to rise considerably in 2022 as construction costs continue to surge across the country and international borders reopen to migrants and students, placing pressure on the already low supply of apartments.
With Meriton occupying a large share of the apartment market it takes a proportionate large slice of the imported fittings and fixtures locking out other builders and clients …
Triguboff said: “at the same time the demand for units from owner occupiers and tenants, while already very strong, will be boosted by the return of international students and workers, so we can expect the prices to go up considerably.”
A win/win for Meriton Property Services which offers up to 90% of the contract purchase price … AND offers a low cost mortgage loan whether a resident or non-resident, investor or owner!
SO that the real question is …
What has happened so that Meriton has won more than anyone else?
IT would appear this can be revealed from the disclosed political donations for the most recent elections in NSW and the Nation …
MERITON Properties Pty Ltd donated $260,000 to the Liberal Party of Australia and $10,000 to the NSW Division of the Liberal Party of Australia AND $5,000 to the CDP (Fred Nile Group) … which party is well-known for doing deals with the Libs …
COMPARE that to a mere $10,000 to the Australian Labor Party (NSW Branch) and $50,000 to the ALP (Queensland).
“Then I will bring in more migrants”.
Harry Triguboff in the AFR in response to a question about oversupply of apartments.
http://www.afr.com/real-estate/phil-lowe-he-worries-me-a-bit-says-triguboff-20161019-gs5vg8
AND our Taxes are stretched further to fund an ever increasing demand for infrastructure lagging behind the population growth … and services (Health and Education especially) … since 2013 low wages growth from increased competition of Visa workers … our Families locked out of Home Ownership … facing life-long tenancy … with the loss of Australian communities, urban bushlands, heritage, and quality of life!
READ MORE!~
Meriton Unveils 30-Storey Tower for Sydney’s West
COMMUNITY ACTION ALLIANCE FOR NSW (CAAN): HOUSING INEQUALITY WITH AUSSIES LOCKED OUT! 