Citation on what? The price not dropping? The supply of units increasing?
I can't give you a citation on who is buying the units because that is obfuscated by design. If the people trying to hide their wealth put their names on the deeds they have just made sure they stay alive in the dungeon until the sale was finalized.
Seeing three separate real estate agents having nothing but Chinese brochures in their offices tells me they aren't expecting locals to be buying from them.
>Thousands of units hitting the market each month is a LOT.
This data shows 18 thousand approved for all of Australia.
Not "thousands per month" for the mysterious city you live in.
For comparison, in 2017 Seattle got 10k new apartments which was enough to match the growth caused by Amazon's hiring and generally keep the prices sane.
So a thousand a month for the city the size of Seattle is good enough to counteract one of the biggest population growths.
In January. There are literally 3 cities that matter and 4 kinda do. If you go by state you can see that a place like Sydney is getting ~1200 non house units approved.
I see 5 50+ story building completed in the last three months, with another 4 being build. Prices are not dropping. Buildings are not being occupied.
I can't give you a citation on who is buying the units because that is obfuscated by design. If the people trying to hide their wealth put their names on the deeds they have just made sure they stay alive in the dungeon until the sale was finalized.