New apartment settlements are on track to fall to 20,000 next year, a seven-year low, unless investors return and boost the sluggish pace of development that threatens to leave Australia vastly undersupplied as immigration resumes, Urbis says.
Apartment settlements, which peaked at over 40,000 in 2018, will shrink to 10,000 by 2024 as developers hold back from bringing new projects to market, the consultancy’s National Apartment Essentials Insights 2021 Q1 report says.
Article Source: www.afr.com
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