Australia's east coast housing markets are likely to stagnate, or fall slightly, over the next few years, according to the latest predictions from BIS Shrapnel. The economic forecaster is widely used by companies in the property sector, and warns that an apartment glut is likely to put downward pressure on prices in Melbourne, Brisbane and parts of Sydney. BIS Shrapnel's managing director Robert Mellor says, with rents steady or falling, first home buyers are probably best advised to wait for a year or two until they can pick up a discounted apartment.
Source: PM | Duration: 10min 18sec
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