Gurner Launches $600m 'FV' Development Amid Concerns of an Apartment Oversupply
After two-and-a-half years of construction, Gurner has officially unveiled the first two towers of its $ 600 million Brisbane development . The launch of FV comes a week after BIS Economics forecast high - rise apartment construction will halve over the next three years. In its residential property forecast 2017 -2020 report, BIS indicated that the resurgence in prices in the current financial year is likely to be short-lived as a looming oversupply of apartments in our major cities will dampen price growth . Gurner rebuffed claims that the local market was oversupplied, “With so much pressure on house prices in Australia, Brisbane provides an incredibly affordable option for first home buyers and owners. Brisbane is 50% more affordable than Melbourne and 60-70% [more affordable] than Sydney – it is now something people just cannot ignore.” Notwithstanding concerns of an oversupply or weakening markets, Gurner has sold all apartments of the FV development , “People have been saying...