Industry News

Hero Subpage

Hero Subpage

Show Zone Hero

Speakers HeroSpeakers Hero

Conferences Hero

13 Sep 2017

Oxford Economics forecasts housing price drop

The construction of apartments across Australia is expected to halve in the coming three years after the market saw a record building boom. According to BIS Oxford Economics' Building in Australia 2017- 2032 report; high-density apartment development will witness the largest decrease. All home building is also expected to decline. The 31 per cent fall in residential building will not fight back the long-expected over supply. The market will still have an oversupply of 31;100 homes by next year; which may result in a drop in apartment prices; BIS Oxford Economics managing director Robert Mellor says. The mistake people made was they thought high population growth was driving really high demand... but they overdid it and kept building and oversupplied the markets; Mr Mellor added. There will be some price declines; he added. Although an overall shortage of homes; the oversupply in specific suburbs may lead up to 4 per cent price fall in Melbourne and Sydney market. Continued price falls was also likely to take place in Brisbane. The slowdown in building activity across the nation is expected to reflect the downturns in the mid-1990s and after the introduction of GST in 2000/01. However; the buliding commencements would still be higher than in the previous depression due to the increased interest rate. Industry experts suggested the decline in construction activity is a typical downturn in the cycle; Housing Industry Association senior economist Shane Garrett said. Going from peak to trough is pretty standard.he added. Our forecasts have the market bottoming in 2019 at 175;400; they have it at at about 160;000.Even those bottom-end points are very elevated by any standard; when you look back at levels over the last four decades.The dwelling completions will go faster than the underlying demand until 2020 and the Australian market is then expected to return to a housing deficiency; the BIS Oxford Economics report expects.

What the Australian construction industry is saying about Sydney Build...

  • The Perfect Hire team and I thought the expo was fantastic. There was a great mix of people walking through looking at the exhibitions and we have gained a lot of quality leads due to this. We did not hesitate to sign up for the following year when approached to do so.
    Perfect Hire
  • This expo has 100 percent given us very goods leads we could follow up on. This is the best form of marketing we’ve done so far. We’ve been able to connect with leads that are usually very difficult to get in contact with. We’re definitely coming back next year.
    High Exposure
  • The show has a good variety of content including conference, summit and the exhibition itself. We got some quality leads as well. We will definitely come again next year.
  • We got some quality leads. The show is managed by very nice organizers. We enjoyed the content and environment of the show a lot.
    Regupol Australia Pty Ltd
  • The show is excellent for the business. There’s lots of good quality people to do business with. This is also the best show we’ve ever been to.
    EZY Profile Systems

View More Testimonials