The ABC’s 7.30 Report ran an article last night on concerns of capital cities on the east coast having an oversupply problem with new apartments. We have linked to the TV episode below so you can see it yourself. From our perspective we don’t agree, and most importantly noted research expert Tim Lawless similarly doesn’t agree that the collapse in prices is coming.
He did caution however that buyers should focus on quality.
“I think if I was buying a unit in any of the housing markets around Australia, I would be focusing on trying to make sure I differentiated the stock I was buying into. So trying to buy into stock more owner-occupied rather than investment driven, on an A-grade site and also had the track history of a quality developer and a quality development,” Mr Lawless said.
He also believes that specific areas and specific types of developments may be at risk of falling, but the area of Greater Brisbane itself would not collapse.
Sources:
ABC 7.30 – Concerns of Imminent Apartment Over-Supply
CoreLogic – The number of homes under construction eases from a record-high
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