8 Apr 2016

Below is an excerpt only, click here to view the full article (paywall)

Perth is not oversupplied with apartments but a short-term lull in demand needs to be corrected if all planned developments are to go ahead, according to national property consultants Urbis.

Urbis Director of Economics and Market Research David Cresp reassured property developers at a Property Council of Australia conference in Perth on Wednesday that the apartment market was not structurally oversupplied.

However, he said if all 4000 new apartments planned to be developed in Perth over the next couple of years were to be completed, demand would need to pick up from current levels.

Furthermore, while demand was expected to improve, the number of proposed developments that did not go ahead was also likely to accelerate.