Apartment oversupply it’s raining apartments in Melbourne according to the 2016 Building Industry Prospects report, Melbourne has an oversupply of 20,000

Massive apartment oversupply: it’s raining apartments in Melbourne CBD and Southbank

raining apartments in Melbourne
According to the 2016 Building Industry Prospects report, Melbourne will have an oversupply of more than 20,000 homes by 2017. Reports: Olivia Lambert from news.com.au
BIS Shrapnel has recently released a report that states there will be too many homes in Melbourne next year.

BIS Shrapnel managing director Robert Mellor said there were record levels of apartment construction in the last 18 months. With so many apartments shooting up like weeds over the last few years, Mr Mellor said we’ve reached a time where Melbourne can too easily cater to the demand. A spokesman for AMP said the business identified certain high density areas and put provisions in place to manage risk and oversupply. AFR reports Melbourne, the city’s Centre and Southbank are on the black list along with South Yarra, Docklands and South Melbourne.


Click here to view the orignal article

Date: April 2, 2016 at 10:56 AM
Published by: News.com.au
Reporter: Olivia Lambert
Category: Australia Real Estate