S&P: Apartment Supply Boom a 'Growing Concern' for Australia
In its latest review on Australia, the US rating agency, Standard and Poor’s (S&P) highlighted oversupply of apartments and settlement risks as the growing concerns within the economy.
Key Details:
Standard & Poor's highlight fears of an oversupply of apartments in Melbourne and Brisbane
And "settlement risk," caused by tougher bank lending rules
The S&P report noted, “There is growing concern over the large volume of new unit stock coming onto the market, in addition to the already-existing supply, particularly in inner-city postcodes. This is more pronounced in Melbourne and Brisbane."
