With talk of a slowdown and the statistics, (no matter how flawed, as we’ve commented before), also showing fewer sales, perhaps, just perhaps, in some areas, expectations may have encouraged overdevelopment. But we’ll only know for sure when the developments are built, the First Occupation Licences are granted, and the sales contracts are notarised and registered. Will they all proceed, or will it be like last time, when buyers identified that they’d make less of a loss by not completing and losing their deposit, than paying the whole price and then trying to sell in the resale market? Nervous times for all, and difficult for valuers to judge the true market value, when there is potential for a substantial overhang of property.
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