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Problem with Victoria is that all the OTP are sold to the overseas investors who have no clue what they are doing and overpay. Now when the apartments are completed they are no longer new, can no longer be sold to foreigners so the local market gets saturated. Can see this from a mile away.

South Yarra and Richmond are pretty crap right now for apartments. Just too many.

Hardly. See: http://www.realestate.com.au/property-house-vic-hawthorn-111761939 300 sqm land, sold for $1.661m. House is decent but it's a narrow block. #2: http://www.domain.com.au/Property/For-Sale/House/VIC/Hawthorn-East/?adid=2010036728 Sold for $1.3m with a crap house on 550 sqm of...

Buying. Richmond going well so far, will update thread soon!

Melbourne market is still extremely strong.

Going to an auction now. Wish me luck! :D

Like I've been saying the new apartments are just saturating the market. So many developers I know are having difficulty selling their projects.