Melbourne's detached housing price growth to near six percent: HSBC's Paul Bloxham makes 2017 forecast

Melbourne's detached housing price growth to near six percent: HSBC's Paul Bloxham makes 2017 forecast
Melbourne's detached housing price growth to near six percent: HSBC's Paul Bloxham makes 2017 forecast

Housing price growth of between 2 and 4 percent is expected in Melbourne in 2017 supported by growth in detached house prices of between 5 and 6 percent.

Paul Bloxham, HSBC chief economist as an oversupply is expected in the apartment market, particularly in the inner city

"We doubt that oversupply in the apartment market will have much effect on the detached house market, given the lack of substitutability," he said.

"Like Sydney, tighter prudential settings and a pull-back in foreign demand are expected to weigh on prices, particularly of apartments. "

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Melbourne Price Growth

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