Weaker foreign demand to hit Sydney apartment market: Paul Bloxham's 2017 forecast
Jonathan ChancellorNovember 24, 2016
Housing price growth of between 4 and 6 percent is expected for 2017 for both detached houses and apartments supported by strong population growth and limited signs of oversupply according to Paul Bloxham, HSBC chief economist.
He said apartment prices are expected to track at a slower pace than detached houses.
"In the detached house market there is only modest growth in new supply expected," he said.
"Overall housing price growth should cool somewhat in response to continued tight prudential settings, particularly in the apartment market.
"Weaker foreign demand, due to a lower RMB, is likely to weigh on the Sydney apartment market.
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.
