Thursday, April 25, 2024

How Covid turned home ownership into the Great Australian Fever Dream

How Covid turned home ownership into the Great Australian Fever Dream

When Covid hit the Australian property market, house prices skyrocketed, people were priced out of the market, supply chain issues hit construction sites, bankruptcies and insolvencies plagued the building sector, and rather aptly, Australians’ aspirations to own a home became the Great Australian Fever Dream.

As the residential sales market raged red-hot rental vacancy rates plunged to record lows and won’t be letting up soon, and industrial real estate also never shook the superlative “record” – sounding rather like a broken record.