S&P: Apartment supply boom a 'growing concern'" for Australia

In its latest review on Australia, the US rating agency, Standard and Poor’s (S&P) highlighted oversupply of apartments and settlement risks as the growing concerns within the economy.

Key Details:

Standard & Poor's highlight fears of an oversupply of apartments in Melbourne and Brisbane

And "settlement risk," caused by tougher bank lending rules

The S&P report noted, “There is growing concern over the large volume of new unit stock coming onto the market, in addition to the already-existing supply, particularly in inner-city postcodes. This is more pronounced in Melbourne and Brisbane."