CoreLogic expects both Sydney and Melbourne to feel the impact of apartment oversupply for the next two years. A glut in both cities is seeing a significant number of new apartments being sold on valuations that are less than what was paid for off-the-plan. From The Australian:
“For units that were bought off the plan two years ago, so much has happened — there are fewer investors, fewer foreign investors and its harder to get finance,” said CoreLogic head of research Tim Lawless.
