Listed MY80 Melbourne apartment facing potential loss of $96,000 on 2014 price

Listed MY80 Melbourne apartment facing potential loss of $96,000 on 2014 price
Listed MY80 Melbourne apartment facing potential loss of $96,000 on 2014 price

A Melbourne residential unit has been listed with a price guide which could trigger a loss of up to $96,000 on its 2014 purchase price.

Located at 4310/80 A'Beckett Street - within the MY80 building - the apartment features two bedrooms, two bathrooms, and a car space.

It comprises 57 square metres of internal floorspace.

The tower also features a swimming pool, gym, sauna, conference room, restaurant, coffee shop and garden.

It sold in 2014 for $786,000.

The current listing gives a price guide of $690,000 to $720,000.

Jenny Wu, from JT Oliver, has the listing.

Her price guidance was based on the following three comparable sales.

2710/80 Abeckett Street 

$630,000

03-Nov-19

 

6104/462 Elizabeth Street  

$630,000

02-Sep-19

2703/265-273 Exhibition Street 

$740,000

 

17-Oct-19

 

The sale reflects a growing concern about the stability of Melbourne's housing market in the current economic climate, with HSBC estimating prices could drop by as much as 17% if the current downturn is prolonged.

Another unit, on the same street, has also been recently listed with a price guide reflecting a likely loss on the investment.

 

Tags: 
Melbourne Property Prices

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