Urbanised has run its next round of forecasts for the next twelve months. The interesting story from these forecasts is when the population forecasts are compared to the completion forecasts. You may recall the media and various commentators calling “oversupply” 6 to 12 months ago. Well that has changed considerably over the last twelve months. Because completions have fallen off so dramatically in the Sydney market that oversupply has reversed very quickly in Eastern District. The Central District is a rather stable market with supply meeting demand. The Southern District has moved from oversupply to a slight excess demand. The Western District has almost halved oversupply over the past year – it is moving in the right direction. Problem still exist in the Northern District with an already large oversupply growing and this is largely due to what is going on in Ryde (although Assurance Reviews may put pay to that). All in all, we are seeing a market in transition showing early signs of development recovery in certain markets.