Australia's high rise boom is weighing on apartment prices

Posted by Simon Dehne on January 8, 2016 in Latest News with No Comments

apartmentAustralia is in the midst of an unprecedented high rise residential construction boom.

The skylines of Sydney, Melbourne and Brisbane – the three main capitals along Australia’s eastern seaboard – are currently littered with cranes, particularly in inner city locations.

While residential construction is taking off, the increase in new apartments has lead to a slowdown in house price growth, particularly for higher density units.

Increased supply, coming at a time when demand is softening on the back of affordability constraints, slowing migration, record-low wages growth and a crackdown on lending to housing investors, is putting pressure on prices.

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