Mirvac foresees continued price growth but at a slower pace than preceding years across Australia’s major capitals, noting that figures will be varied in different parts of the cities.
Mirvac’s head Susan Lloyd-Hurwitz said housing demand in many locations are outstripping supply and that housing finance will be up in all major states.
“We expect housing credit to continue to grow,” Lloyd-Hurwitz said.
“Sydney in particular is supported by entrenched undersupply. Over the next 20 years an additional 1.6 million people will live in Sydney and to accommodate that population growth the market needs to supply over 33,000 new dwellings per annum and that’s a level [of construction] that has never before been sustained,” she was quoted as saying in the Property Observer.
Moreover, she also expects south eastern states to erect more modern, higher density dwellings with access to infrastructure and amenities.
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