There was an article in the AFR this weekend from ANZ's Property Team who has a largish concern about the glut of apartments in inner-city Melbourne.
They predict in 2013, Melbourne will have an oversupply of apartments between 5000 and 7000, based on 'skyscraper' product still to come onto the market.
It sounds like a Queensland all over again. I wonder at the current sales rates, how many years it will take to clear all those?
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