The significant reduction in overseas migration due to COVID-19 will see underlying demand for dwellings decline.
However, as major demographic shifts take hold, demand will be driven by vast numbers of existing resident Millennial’s who are moving into the family formation stage at an unprecedented rate.
Rarely has the question of where, why and how people will live, work and play been so important, as the impact of COVID-19 begins to transform the demand and supply equation across the Australian property market.
As the development industry seeks to navigate its way through an unprecedented level of uncertainty, one certainty arising from the pandemic is the extent to which the very significant reduction in net overseas migration will impact the number of dwellings required.
Click HERE to read the full article and report published by Charter Keck Cramer in August 2020.
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