Docklands is sound: agents

Local real estate agents have countered claims by investment advisor Terry Ryder who is warning apartment investors away from the CBD.

Mr Ryder’s annual No Go Zones report claims the “single biggest danger” for investors this year was “buying apartments in some of our major cities”.

In Melbourne’s case, he highlights the CBD, Docklands and Southbank as areas to avoid, claiming that 3.4 per cent of Docklands apartments were vacant in November 2017.

“A good strategy for property investors is to simply avoid high-rise unit markets altogether,” he says.

City Residential principal Glenn Donnelly said: “That’s ridiculous as soon as we have a property to rent it is leased within days of it being advertised.”

“We have over 400 properties on our rent roll and there is a zero vacancy rate on all of these 400.”

Lucas Real Estate property management director Dylan Emmett agrees.

He told Docklands News: “In 2017 our vacancy rate was the best its ever been below 1 per cent all year and recently published that Docklands achieves the highest prices for units in Melbourne.”