REA Group Chief Economist Nerida Conisbee says “it is a very distressing situation at the moment for people having to find emergency accommodation” as bushfires destroy homes across the country. The extensive loss of homes is expected to create widespread housing stress and wreak havoc on Australia’s property market.
Ms Conisbee told Sky News “rental demand is starting to show really big surges in towns close to bushfire affected zones, so there is no doubt real estate agents in the area are being inundated for accommodation”. “Post-bushfires, a lot of people choose to sell up, so obviously they are very nervous about what is going to happen next and are fearful of a similar occurrence happening again,” she said.
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