The accepted wisdom that an apartment is a stepping stone to buying a house is being called into question by high house prices and lacklustre capital gains for units.
With the focus on our housing crisis, a new report reveals that sustainability is taking a back seat in apartment construction – except for at the top end of the market.
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Buying an apartment is the biggest financial commitment many of us will ever make. Unfortunately, our new research shows that defects in apartment buildings are commonplace: just over half of Sydney’s apartments had at least one type of defect, while more than one in four had at least three different defects. We also found it is virtually impossible for buyers to know whether the apartment they are buying is good quality.