In this week’s episode, James and Anthony pick through the hits and misses of reporting season, take a deep dive into the property sector, and look ahead to the Jackson Hole conference.
It takes about three years to build an apartment project. In 2025, there’s only going to be 15,000 apartments released into the market.
If you think of the immigration we’re having at the moment, 400,000 migrants and about 650,000 students ... we are not keeping up with the demand. It’s going to be really hard to boost housing supply. It’s already hard with zoning and planning. But that practical element of construction just makes it tough.Supply is not a problem in office [properties]. About 15 per cent of office space in Melbourne and Sydney is vacant at the moment.
The owners are struggling to write long-term leases. They can get people for a short amount of time, but not the long time.They’re having to offer big incentives, people are wanting less space than they used to have, that’s all because of the work-from-home [trend] and doubts about the economy.
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