Glenn Stevens gives his 2016 predictions for Sydney and Melbourne property

Glenn Stevens gives his 2016 predictions for Sydney and Melbourne property
Glenn Stevens gives his 2016 predictions for Sydney and Melbourne property

RBA Governor Glenn Stevens made his semi‑annual appearance before the House of Representatives Standing Committee on Economics today. 

Prepared opening remarks from the Governor were followed by a lengthy Q&A session. 

Glenn Stevens gave his predictions for the Sydney and Melbourne property market.

He expects home prices “to take a bit of a breather for a while”.

Stevens says a slowdown in Sydney & Melbourne prices would be “quite welcome.”

“I think we have seen prices fall in some parts of Sydney," he said.

As for housing oversupply, he believes that there may be oversupply in some pockets, but he has ruled out prospects for housing oversupply in Sydney.

Glenn Steven's opening statement can be read here.

 

 

Tags: 
Housing Supply

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