By Leith van Onselen

A reader sent me through the below letter from a Brisbane Ray White real estate agent recommending that apartment owners consider selling before an imminent oversupply drives a correction (I have blackened-out the agent’s personal details):

Good advice, since Brisbane is probably the city most vulnerable to an apartment crash.

Let’s review the macro data.

First, Brisbane has experienced an unprecedented lift in high-rise apartment construction, with more in the pipeline:

Second, overall dwelling construction – both houses and units – is booming just as population growth craters:

Third, Brisbane’s rental vacancy rate is well above the national average, despite the significant number of homes being withheld from the rental market:

Finally, apartment rents in Brisbane are now falling, down 0.8% in the year to June, according to Core Logic:

I certainly would not want to be a Brisbane off-the-plan apartment buyer right now.

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