Love Ageing

Warning: Sydney apartment slump could hurt village sales

Published on

Harry Triguboff says Sydney apartments sales are stalling. His Meriton Group has listed its 199-unit Meriton Suites North Ryde for sale for an estimated $150 million as he looks to fund the construction of more apartments in Sydney’s weakening housing market. Another 59-unit residential block in Rhodes may also be sold off.

“I am not getting enough sales,” Mr Triguboff told The Australian. “If I want to build many units … that is why I’m selling.”

The GFC showed slow residential sales hit village sales. Lower apartment prices will challenge village price advantages.