The Great Australian Appartsunami

Discussion in 'Where to Buy' started by hammer, 5th Oct, 2015.

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  1. jaybean

    jaybean Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    4,752
    Location:
    Here!
    A million.

    Each year.

    Wow.

    And people are freaking out when we have numbers like 10-20-30k apartments coming on line. Thanks, that puts things into perspective.
     
  2. Redom

    Redom Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    4,616
    Location:
    Sydney (Australia Wide)
    Yes it was crazy!!!

    Early last year while at Treasury i took the former Spain IMF head (his the current Australian head) around Australia to meet externals. One of the externals (if i recall it was BIS) was making a bold prediction about oversupply issues in Aus and how it may grow. He then showed a chart with growing approval numbers and a 'trend' - the 'construction boom'. It was a very small surplus predicted (20k).

    After the meeting he pretty much laughed at Aussies worry and shared a story about how stuffed the Spanish were. 'Nothing to see here' effectively...although that may change if those approval numbers keep heading skywards.