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Housing demand to take dramatic hit as Australia’s net migration slumps – The Guardian

Demand for housing could fall by 232,000 dwellings over next three years due to international border closures and decline in population growth

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The coronavirus pandemic could cut demand for housing in Australia by between 129,000 and 232,000 dwellings over the next three years, research by a federal government agency shows.
The National Housing Finance and Investment Corporations study found that population growth could be cut by 214,000 between 2019 and 2021, a 0.8% decline only surpassed by the first world war and the unwinding of the 1971 baby boom.
This is the result of international border closures that have effectively shut down…

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