The federal government has forecast that migration will fall by 85% in the two years from 2019 because of COVID-19.
Consultancy m3property has tipped that this will lead to an oversupply of housing in all mainland states with the exception of Victoria, which is forecast to have an undersupply of 7,391 properties in 2021:
“We expect Victoria to continue to be under supplied over the next three years with the demand-supply gap likely to start reducing by mid-2021 before widening again from early 2022 when we begin to see population growth returning to pre COVID -19 levels,” said Jennifer Williams, m3property’s national director research…
