Putting a lid on property exuberance

Sydney's biggest apartment owner, Harry Triguboff, is selling off parts of his portfolio in a dramatic attempt to cool price rises. Like the Reserve Bank, he's worried another property bubble is coming.

The efforts to stop “the mother of all housing booms” are intensifying. Australia’s biggest apartment builder and owner, Harry Triguboff, has seen a seven per cent rise in the price of Sydney apartments in recent months. He understands the dangers of an apartment price explosion in Sydney so he has decided to start selling part of his portfolio of more than 5,000 Meriton Sydney apartments.

Just how many he will sell is not known but it will curb the threatened Sydney apartment price explosion and of course, he is still building new apartments at full pace.

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