Sydney property: decrease in migrants due to coronavirus to have major impact on market

Daily Telegraph –

Reduced migration brought on by the coronavirus pandemic is set to have a major impact on the property market, with Sydney rents already feeling the pinch.

Sydney’s investment apartment market is particularly vulnerable to closed borders, the property economist Dr Andrew Wilson has noted after the Prime Minister confirmed the pending big drop in immigration.

Scott Morrison advised reduced immigration was going to be one of “the real impacts” of the pandemic because our borders aren’t opening up any time soon.

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