NewsMelbourne'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
Jonathan ChancellorNovember 24, 2016
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. "
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
