Apartment glut hits the nation’s capital

Sunday 25 October 2015

ABC News has reported that a glut of units and apartments has developed across Canberra, which is pushing down rents:

Property manager Patrick Bergman said a large number of unit blocks had recently been built and released in the ACT, so much so that it was now a renter’s market…

“I think it is a concern with just a lot coming on the market at once,” he said.

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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.