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Just having a quick look at Melbourne’s St Kilda Road’s property market, which is experiencing some sobering sales recently. Below is an apartment that was sold for $1.565m in 2009, but only achieved $1.25m this Saturday (25th August 2018).

Whilst obviously not indicative of the whole market, it does show that some apartments in this area can be a tough sell unless you are prepared to meet the buyer’s price. The median price for the area is just above $600k, not that far above what was achieved 10 years ago.

https://www.domain.com.au/property-profile/1601-572-st-kilda-road-melbourne-vic-3000