We know residential markets can vary dramatically across the country in terms of buyer and renter profiles, demography, housing types and demand drivers. So, does this mean some markets will be inherently more resilient to COVID-19 shocks than others?
The experienced economists at Think Economics have been assessing markets in terms of migration patterns, rental stock, dwelling mix, international student concentrations and more. They have now released Think Economics Residential Resilience Index which considers a range of factors to identify locations with potentially greater levels of resilience, and risk.
Jeremy Mckinnon, Principal and Partner at Think Economics describes the index as a high-level way to compare markets spatially in regard to either their resilience or vulnerability and exposure to key COVID impact factors such as an areas historical reliance on net overseas migration, its proportion of rented apartment stock held by international students and specific employment sectors most directly impacted by COVID. While quantifying underlying residential demand at a small area in the current market is unlikely to be informative given the significant unknowns around border openings and migration movements, an index allows a better way for a market to be compared, monitored and updated as new data becomes available.
Search Commercial are pleased to offer the summary results of this research exclusively to our subscribers as part of the new Insights Series.
Search Commercial thank our partners at Think Economics and look forward to future data releases which have the potential to unlock opportunities.
Think Economics was established to create a bespoke economics and property research advisory service to identify and create value for their clients. At Think, they tailor strategies to meet client needs, providing flexible, innovative, objective and evidence-based advice.
Visit their website to learn more: http://www.thinkeconomics.com.au/