As the debate over migration continues both on social media and in the halls of power, myths surrounding its impact on housing continue to propagate. This is despite the fact that the issue can often be easily disproven with a quick review of the data and a brief reading of commentary from one of the nation’s top property experts, such as SQM Research Managing Director Louis Christopher, who has extensively covered this topic for several years.
Today, we will be tackling the mythos surrounding exactly what happened with rents and why during the pandemic.
Amidst the closure of the nation’s borders to the overwhelming majority of inbound travellers and on-and-off lockdowns, the number of temporary visa holders in the country plummeted, placing downward pressure on rents overall, particularly in capital cities where a disproportionate number of temporary visa holders tend to congregate.
