Jobs and Homes
There is a severe crunch coming to Australia’s largest apartment markets.
Urbis predicts 2024 apartment supply will be 20 per cent of 2018 levels.
We will lose cranes on our skylines and 30,000 construction jobs across Melbourne, Sydney, Brisbane and Perth in the next few years. By 2024, the impact of government inaction grows into a severe structural undersupply.
Apartments generally take 3-5 years from the planning phase, through sales and construction, to occupation. We must boost investment in new stock now, including international buyers and build to rent investors, if we hope to provide stock for the growing numbers of people that will be coming to Australia by 2024.