VIDEO – 20,000 Melbourne properties to flood the market

Up to 20,000 extra Melbourne apartments that are currently sitting vacant, could hit the market within a few months. Whether the owners respond to the new ‘vacancy tax’ starting 1 January 2018 by adding these properties to Melbourne’s rental stock or resale stock, either way there’s a huge over-supply that’s about to swamp Australia’s second biggest city.  Simon Pressley, Head of Property Market Research at Propertyology discuss the likely impact on the market.

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