Office workers in Australia’s two largest cities are not the most cramped in the world, but they are tighter than the global average, putting employers and landlords under greater pressure than others to spread people out in a post-COVID-19 environment.
The average price of a residential property in NSW surpassed $1 million for the first time on record in the March quarter, while the total value of Australian homes hit $8 trillion.
The recovery in property prices, led by surging population growth and a severe housing shortage, could prove short-lived if unemployment rises and the Reserve Bank keeps the cash rate high, economists warn.
The recovery in property prices, led by surging population growth and a severe housing shortage, could prove short-lived if unemployment rises and the Reserve Bank keeps the cash rate high, economists warn.
The proportion of landlords negatively gearing rental properties has fallen below 60 per cent for the first time on record, reflecting a decline in interest rates.
