23.04.2012 - Melbourne housing market on the “wrong side of the ledger”
Residex boss John Edwards has given a relatively upbeat assessment of the national property market – with the notable exception of Melbourne. The major worry is in Melbourne, where Edwards says there is an overhang of stock. “I’m worried about Victoria,” he says. “When I look at the Victorian economy, I can’t see anything that’s actually going to do it any good.” He says: “It’s on the wrong side of the ledger,” noting what he called a 70% overhang of stock in Melbourne, the largest stock overhang of any capital in Australia...............................................Full Article: Source
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