The Property Couch TPC Gold | Our Bias Explained: Why We Don’t Recommend Off-the-Plan
Feb 24, 2026
A data-driven discussion on why new-build contracts often fail to deliver investment-grade returns. Conversation about prioritizing numbers over flashy amenities when buying property. Exploration of rare exceptions like premium views and boutique projects. Practical advice to reduce risk by buying after completion rather than committing early.
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Why Most Off The Plan Apartments Underperform
- Off-the-plan apartments generally underperform because developers pack many units into lower-quality sites, reducing scarcity and owner-occupier appeal.
- Bryce's first investment paid for a lift and large pool few tenants used, showing amenities don't guarantee tenant value.
Personal Lesson From A Poor First Investment
- Bryce's first investment featured a rarely used large pool and lift, with frequent car break-ins due to scale and lack of exclusivity.
- He contrasts dense new sites on major roads with older 1970s properties in quiet streets that hold appeal.
Data Drives The Bias Against New Builds
- Ben's bias against off-the-plan is data-driven: backtesting millions shows owner-occupied appeal and scarcity outperform new medium/high-density builds.
- He cites stats that 25–50% of off-the-plan purchases settle under value, highlighting systemic risk.