GFC caused price drop

I refer to Warren Cross' letter (High Rises Lower Property Values, Peninsula News, 2 Aug 2010).

As the original owner of the property he mentions, he should have checked the facts with me before using the sale of my property to illustrate his argument.

Firstly, the sale was not recent. It was September 2009.

Secondly, Mr Cross states that the property sold for 35 per cent less than its original asking price and that this is attributable to the Ettalong high rise.

During the period of the sales campaign, the boundary was realigned and the block that sold was almost 2500 square metres smaller than that originally advertised.

A comparison of asking-sale prices is therefore a meaningless exercise.

Thirdly, the Ettalong "white mirage" is barely visible from the house.

To the best of my knowledge and that of my real estate agents, none of the prospective buyers cited the existence of the club or proposed high-rise as a factor in their decision-making process.

I would suggest that the Global Financial Crisis had a greater impact on buyers for my house during 2008 to 2009 than the latest Tesrol application.

Email, 8 Aug 2010 Susan Williams, Wagstaffe Pt