Australia's property downturn spells death of the ‘dog box’ | WHAT REALLY HAPPENED


Australia's property downturn spells death of the ‘dog box’

Australia's property downturn may finally spell the end of the “dog box”.

As investors flee en masse, property developers are struggling to get funding from banks, with a growing number of apartment buildings being delayed or abandoned altogether.

Non-bank lenders are increasingly stepping in to fill the gap — and the focus is turning away from the 20-storey high-rises and tiny one-bedroom apartments favoured by investors to larger units in smaller-scale developments targeted at owner-occupiers.

“There is a tailwind in terms of the demographics, especially the baby boomers who have more capital, as they make that transition to apartments for lifestyle reasons,” said David Chin, founder of investment advisory firm Basis Point.

Tags:

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA