Brisbane apartment market faces “ominous” outlook

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By Leith van Onselen

Brisbane’s apartment market outlook is “ominous” and facing a large oversupply according to research from property firm Momentum Wealth, which warns that fewer foreign investors following the state government’s new foreign-buyer surcharge, as well as more restrictive lending practices, will continue to have a negative impact on the sector. From The Australian:

“Given the high levels of activity in the Brisbane apartment sector coupled with this easing demand from foreign investors (who predominantly buy in this property segment), the short-term prospects for the apartment market are ominous, particularly in areas with a high concentration of new projects, either planned or under construction”.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.