An oversupply of new homes, weaker investor demand and lower population growth will see prices growth decline in most capital cities over the next three years, a new report shows.
Leading the expected price falls are Adelaide and Darwin, where the house median is forecast to fall by 2 per cent by June 2019, according to BIS Shrapnel’s Residential Property Prospects 2016 to 2019 report released on Monday.
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All states except New South Wales are expected to move into oversupply or face growing oversupply.