Saturday, March 13, 2010

Riverpoint West End

Riverpoint at West End, stage one, is complete and owners are starting to move in. It would be interesting to know how many of the valuations came below contract price, and how many purchasers off the plan were unable to settle.

Riverpoint, stage one, still has apartments listed for sale. These include:
  • a "two bed one bath" (67sqm internal, so small!) where the second bedroom is internal with no windows, listed at $580,000.
  • a "three bed two bath" (81 sqm internal, which is in my view too small for a 2 bedroom apartment) with views of one of the other buildings, listed at $750,000.
I laugh that an agent has a 2 bed 1 bath listed for resale, at $550,000, giving the total area as 116sqm -- but this includes 17sqm of car park. Most other developers and agents do not include the carpark in the sqm area when selling an apartment, so take care!

I have inspected Riverpoint. The general quality looks to be very good. Some of the apartments are too small, in my opinion, and have bad aspects. The prices are high. There are many more stages of Riverpoint to come, so extreme care must be taken.

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