HIA: Housing shortages to re-emerge with mass immigration reboot

Housing Industry Association chief economist Tim Reardon warns the lack of recent new development of city apartments will become evident in 2022 as Australia’s national borders reopen and migrants and international students return in large numbers. Australian Bureau of Statistic figures reveal that just 76,000 townhouses and apartments were approved in the year to October, some 12% the decade average:

“We need to build more apartments simply to meet the demand”… Mr Reardon said.

“I expect that after the next federal election, we will see a return to traditional levels of population growth regardless of who wins. That will see a growth particularly in demand for apartments, not so much for detached homes.

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