As previously reported, Mirvac has sued at least 10 purchasers who did not settle. Valuations for some apartments came in $200,000 or more under contract price. It will be hard for an original buyer to resell without making a loss. There are about 30 apartments listed for resale at present.
As at mid July 2009, there were 23 apartments listed for rent by the onsite manager. There are over 40 rental listings on realestate.com.au. Rents for unfurnished apartments are:
- 2 bedrooms: $500 to $600 per week
- 3 bedrooms: most in the $700 to $790 per week range, although one is listed at $590 per week and another at $600 per week
Tennyson - 2 bedroom sold for $990,000 and rents for $500 per week
Parklands - 2 bedroom sold for $495,000 and rents for $450 per week
Tennyson - 3 bedroom sold for $1,400,000 and rents for $720 per week
Parklands - 3 bedroom sold for $700,000 and rents for $570 per week
The Tennyson apartments are double in price, but the rent is not.