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National Housing and Investment Authority
The State of the Nation’s Housing 2020 report has been prepared by NHFIC’s newly-formed research team with modelling input from SGS Economics & Planning and Macroplan.
The report delivers on NHFIC’s mandate of monitoring housing demand, supply and affordability, while also identifying potential gaps between housing demand and supply.
It is NHFIC’s first report into the State of the Nation’s Housing and was developed in consultation with a wide range of stakeholders across industry, government and academia.
The report shows that housing demand is projected to fall over this year and next due to the dramatic impact of COVID-19 on net overseas migration.
This in turn is projected to result in new housing supply temporarily exceeding new demand.
However, any cumulative excess supply could be negligible if effective vaccines are available earlier and international borders re-open sooner than expected.
New housing supply could also be lower than projected if developers face greater difficulties in obtaining the level of pre-sales necessary to obtain project finance for new medium to-high density developments.
This follows much longer protracted periods of under-supply in the housing market.