Apartment glut looms in Perth as housing market slows

Posted by Simon Dehne on April 12, 2016 in Latest News with No Comments

apartmentThere are fears of an oversupply of apartments in Perth that could collapse prices and leave investors out of pocket, as the housing market slows and population growth tapers off.

Key points:

Spike in apartments due to be completed in Perth in next two years
Population growth has slowed to sluggish 1.3 per cent
Perth apartment prices lower than Sydney or Melbourne
Planned developments may be shelved
There are 3,085 apartments forecast to be constructed in Perth next year, with almost double that number – 5,668 apartments – due to be finished in 2018, figures from Y Research show.

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