iBuyNew and our CEO Mark Mendel has been featured in Smart Property Investment on Wednesday 25th May 2016.
This latest article is based on a new report, released by Capital Economics that reveals a significant drop in housing is expected by 2019. Capital Economics claim that house prices in Australia will fall by about 10 per cent over 2019 and 2020.
Mark Mendel said that talk of an apartment oversupply is “overstated” as a number of proposed developments will “never eventuate”, with many developers unable to obtain finance.
According to Mark Mendel, “While there is a lot of discussion about banks toughening their lending policies for buyers, they are even tougher on developers”.
“Developers with no track record are getting a blanket ‘no’ from lenders across the board, while those with a limited track record are also finding it extremely tough.”
To read this article in full, you can view the article here, Australian property on par with pre-crash US