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  • NEWS Desk Global

AFFORDABLE HOUSING WILL STAY OUT OF REACH IN MAJOR ECONOMIES DUE TO LACK OF SUPPLY




Major economies grappling with housing crises will struggle to crank up the supply of affordable homes in coming years, according to property analysts who said more government intervention was needed to improve the situation. House prices in most major property markets were forecast to rise over 4% this year thanks to supply lags and expectations that top central banks will cut rates soon. That is a relatively modest appreciation as property values are already very high.

An acute lack of starter homes, a perennial problem made worse during the COVID-19 pandemic, was not likely to be addressed anytime soon, according to experts polled May 9-30 across markets in the U.S., Canada, Britain, Germany, India, Australia and New Zealand.

That suggests most new homebuyers will have to stretch further or consider waiting even longer to save up enough of a deposit to own a home.

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