“Housing affordability is expected to gradually deteriorate over the next five years, but increased investment into new housing will be driven by the pent-up demand resulting from population pressures and generally buoyant economic conditions.”
This was one of the key findings of a new report by IBISWorld, that also predicted the revenues of major housing construction players like ABN, Simonds and Metricon to jump by 3.7%, or $41bn, over last year.
The study attributes the increase to strong housing investments in the country and prevailing low mortgage interest rates.
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