North Melbourne and Moonee Ponds see surge in apartment stock in last 12 months
Much has been written about the oversupply of apartments in Melbourne.
Earlier this year, the RBA had voiced its concerns on the apartment market, warning a flood of new apartments could come onto the market in certain areas, pushing down prices and causing heavy losses for developers.
In its latest Stock on Market update, realestateinvestar.com.au has listed the Melbourne suburbs with their current stock of units and the stock 12 months previous to that.
North Melbourne has some 135 compared to 112 a year back - a 20% change.
In contrast, some suburbs like Carlton saw supply fall from 195 units 12 months back to 158 units in the latest count.
Meanwhile, percentage rises in some other suburbs like Alphington and Armadale were much sharper (see table below), but that was mainly because the numbers were much smaller.
| Suburb | Current Units | Units 12 months ago | Percent change |
| East Melbourne | 38 | 25 | 52 |
| Moonee Ponds | 75 | 47 | 59 |
| North Melbourne | 135 | 112 | 20 |
| Brunswick West | 68 | 49 | 38 |
| Alphington | 32 | 10 | 220 |
| Armadale | 52 | 23 | 126 |
| Brighton | 69 | 41 | 68 |
A recently completed two-bedroom apartment at 302/35 Arden Street, North Melbourne (picture above) is to go under the hammer in mid-December. It is part of the architect designed "MILQ" building.
A one-bedroom apartment at 308/108 Haines Street, North Melbourne is selling for $372,000. The inner city apartment is expected to be ready by February 2018.
