{"id":23520,"date":"2020-02-06T18:27:21","date_gmt":"2020-02-06T05:27:21","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=23520"},"modified":"2020-02-06T18:27:27","modified_gmt":"2020-02-06T05:27:27","slug":"sydney-olympic-park-sales-plummet-after-opal-tower-defects-revealed","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/sydney-olympic-park-sales-plummet-after-opal-tower-defects-revealed\/","title":{"rendered":"Sydney Olympic Park sales plummet after Opal Tower defects revealed"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO:  Wary buyers have voted with their wallets as apartment sales in Sydney Olympic Park plummet after Opal Tower news. Photo: Nick Moir.\u00a0Photo:\u00a0Nick Moir <\/strong><\/p>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\">Apartment sales in Sydney Olympic Park plummeted last year as news of the notorious Opal Tower dragged on, with wary buyers leaving in droves and deserting the suburb, new data reveals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While the class action lawsuit battle continues in the Supreme Court, the knock-on effects of the defect-ridden Opal Tower are now plain to see with sales down a massive 75 per cent in the year ending December 2019, Domain data shows.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">There were just 39 sales in the apartment-heavy suburb last year, down from 153 in 2018 \u2013 the year news of the structural defects in Opal Tower broke late in the year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the same 12 month period, the median unit price also fell 9.8 per cent to $715,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Domain economist Trent Wiltshire said Opal Tower\u2019s structural defects had played a big role in buyers deserting the suburb,\u00a0exacerbating the downturn that had already taken hold across Sydney.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a href=\"https:\/\/www.domain.com.au\/news\/sydney-olympic-park-sales-plummet-after-opal-tower-defects-revealed-925844\/\">DOMAIN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Wary buyers have voted with their wallets as apartment<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/sydney-olympic-park-sales-plummet-after-opal-tower-defects-revealed\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":23521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478103508,478102892,478106318,478100390,478103476],"class_list":["entry","author-data123nz","post-23520","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-olympic-park","tag-opal-tower","tag-sydney-apartments","tag-sydney-olympic-park","tag-sydneys-opal-tower"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - 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