• ALL THOSE construction cranes dotting city skylines could be very bad news.

Or good news, if you’re waiting to buy an apartment. A growing number of experts are warning Australia could be heading for an apartment market crash of epic proportions.

According to AMP Capital chief economist Dr Shane Oliver, the Australian property market will “start going negative” in 2017 if interest rates rise or the country enters a recession, with possible falls of up to 10 per cent in houses and up to 20 per cent in units.

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Apartments

Cranes over buildings in the Melbourne’s Docklands. Picture: Jay Town