Reserve Bank of Australia says apartment boom risks start showing
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The risks of oversupply the Brisbane and Melbourne apartment markets are “coming to the fore”, the Reserve Bank of Australia warns.
The RBA said the financial system was in good shape overall, particularly with home price growth slower than a year ago, tighter lending standards and slower credit growth to households.
However, the central bank said the risks from apartment oversupply in some markets were now starting to show.
“These risks appear greatest in inner-city Brisbane and Melbourne, where new supply is largest relative to existing dwelling stock,” the RBA said in its biannual Financial Stability Review on Friday.
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