3201/43 Hancock Street, Southbank VIC 3006

32nd floor flood overlay | 112m² but no parking | 2023 build losing value | buyer beware of rental gap This property presents a clear risk: a flood overlay on a high-floor apartment typically signals building-level exposure, which may push insurance costs 15–25% above market and complicate future resale. The 112m² floorplan is generous for Southbank, but the absence of any parking reduces appeal to owner-occupiers and families, compressing the buyer pool. The $754,000 2023 purchase price has already softened, and current listings sit below that level. This is a hold for capital growth, not a flip. The unit’s strength is its size and panoramic views, rare in a 2023 build, which gives it a competitive edge against newer stock in the same precinct. For a downsizer or investor targeting long-term rental income, the floorplan works well, but only if parking is not a dealbreaker. The lack of recent rental data is a red flag—verify achievable weekly rent before committing. To move forward, request a full body corporate disclosure and insurance premium estimate to quantify the flood overlay’s actual cost.