article_snippet.sent: This will create an oversupply and see property prices fall by between 5 and 10 per cent in markets where construction supply has been strong – particularly inner-city Melbourne and Perth – according to BIS Shrapnel managing director Robert Mellor.
article_snippet.sent: It is correct to talk about the markets going to go from chronic undersupply to the fact there will be excess supply developing in a number of markets,' BIS Shrapnel managing director Robert Mellor told Daily Mail Australia. '
article_snippet.sent: While there might be a shift in demand patterns with renters wanting to live closer in, it's not going to be sufficient. '
article_snippet.sent: Supply will swamp the amount of demand and lead to excess supply, and you're going to find a substantial reduction in rents and the risk of falling values.'
article_snippet.sent: It is correct to talk about the markets going to go from chronic undersupply to the fact there will be excess supply developing in a number of markets,' BIS Shrapnel managing director Robert Mellor said .