People choosing to live alone or with partners caused the average household size to fall during the pandemic, andThe demand for detached dwellings also soared as people sought more space, and while the pipeline of projects remains strong, supply chain and skills shortages are causing long delays and pushing up prices.
“The issue is how fast these projects can be completed,” Dr Ellis said, noting that the average construction time had blown out 50 per cent to nine months. The change in household composition helps explain why housing demand remained strong and rental vacancy rates quickly tightened even while the international border was shut, according to the RBA.
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