Brisbane apartment supply noted in February 2017 RBA minutes

Brisbane apartment supply noted in February 2017 RBA minutes
Brisbane apartment supply noted in February 2017 RBA minutes

The RBA have highlighted the concerns about the Brisbane property market, suggesting a significant increase in the supply of apartments.

They suggested that the supply increase has begun to affect prices and rents in the Queensland capital.

The minutes from the February rate decision, where the RBA decided to hold the rates at a record low 1.5 percent, also noted the prices and rents falling in Perth.

"The combination of increased supply and lower population growth had already depressed rents and apartment prices in Perth and, increasingly, Brisbane," the minutes read.

However, they say that activity in the Sydney and Melbourne housing market in the second half of 2016 had increased, as did investor housing loan approvals.

It was noted that the housing market activity in Melbourne and surrounding areas had been supported by strong population growth and improvements in transportation infrastructure.

They concluded the property wrap by suggesting some lenders were taking a more cautious attitude to lending in certain segments. 

 

 

 

Tags: 
Rba Rate Decision Mortgages

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