Darwin market in oversupply with price gains a few years off: BIS Oxford Economics

Darwin market in oversupply with price gains a few years off: BIS Oxford Economics
Darwin market in oversupply with price gains a few years off: BIS Oxford Economics

Darwin house prices have been falling since 2014/15 as resource sector investment has also fallen away, impacting on employment, migration and population growth.

According to the BIS Oxford Economics Residential Property Prospects 2019 to 2022 report, the market is estimated to be currently in oversupply with high vacancy rates. 

Affordability has now become very attractive, the report said.

However, without a strong turnaround in the economy or the demand/supply balance, only moderate house and unit price growth of 7% and 8% respectively is forecast to June 2022.

The firm predicts that these gains will be mainly toward the end of this period as supply begins to tighten.

Click here to enlarge:

Darwin market in oversupply with price gains a few years off: BIS Oxford Economics

Click here to enlarge:

Darwin market in oversupply with price gains a few years off: BIS Oxford Economics

Click here to enlarge:

Darwin market in oversupply with price gains a few years off: BIS Oxford Economics

Tags: 
Darwin Bis Oxford

Comments

Be the first one to comment on this article
What would you like to say about this project?