Toggle Menu Header

Property Market News

Latest Trending Popular This Month
Anuj

Anuj

City
The drop in demand for rental properties has proven so severe that it may lead to a development fall of hundreds-of-thousands of apartments in the next few years, according to a forecast by a government agency. The National Housing Finance and Investment Corporation (NHFIC) claims from 129,000 to 232,000 fewer apartments, townhouses and houses could be developed within the next three years due to the sudden drop in migrants weakening rental demand. The drop in demand for rental properties has proven so severe that it may lead to a development fall of hundreds-of-thousands of apartments in the next few years, according to a forecast by a government agency. The National Housing Finance and Investment Corporation (NHFIC) claims from 129,000 to 232,000 fewer apartments, townhouses and houses could be developed within the next three years due to the sudden drop in migrants weakening rental demand. The stagnating population growth is weakening rental demand to the point where it could slow down the construction of new developments through 2023, NHFIC said, hurting an industry that’s important to Australia’s economic recovery. “The health response to COVID-19 has created a formidable roadblock and highly uncertain outlook for population growth and demand for housing,” the report said. Continue reading at:x Falling rents could have a scarring impact for yea... The drop in demand for rental properties has proven so severe that it may lead to a development fall of hundreds-of-thousands of apartments, according to a government agency. www.ratecity.com.au
0 Reply 13 Views 1D ago
No more post available

Top Contributors Last 30 days

1 InvestAus
2 Anuj
3 Anjali
7 online
InvestAus
Sam2018
Ranbir Singh Kadian
sanmita sahu
Justprop Team member
and more ...