Is Confinement Going To Boost Demand For Residential Accommodation?

With the health crisis being experienced more comfortably in homes than in apartments, some believe that this market will see new demand pour in.

In these times of house arrest where the slightest outing must be accompanied by a duly completed form, the Cornwall House Accommodation with terrace and / or garden has never been so popular. All the studies show that confinement goes better in the countryside than in the city and especially better in a house than in an apartment. On the basis of these elements, some believe that the end of this health crisis will be accompanied by an influx of new customers to homes.

56% of houses in Australia

Echoes which also reached Western Australia, director of the Institute of real estate and land savings. “Obviously when you've been squeezed into a small 2-room apartment for weeks, you want more space,” he admits. In some regional metropolises, this movement is possible, I am more dubious about its impact in Australia and in the inner suburbs.”

Remember that according to the latest statistics from INSEE, houses represent 56% of housing in Australia. This type of housing is predominant among main residences as well as among secondary residences and occasional housing. However, since 2008, the weight of houses has declined slightly, as the number of apartments is increasing faster. Since 2013, the homes completed during the year are indeed more often collective than individual, whereas it was the reverse before 2008. Not sure that a few weeks of confinement can change this long-term dynamic.

Exposure to other vulnerabilities varies when assessed taking into House Accommodation. Looking at the financial outlook, renters are less likely than homeowners to be satisfied with the affordability of their housing, and more likely to have experienced financial difficulties in the past year. Household composition can also pose risks. About 45% of households living in an apartment consist of one person. 

The absence of a second income recipient means that the household has a more restricted ability to cope with financial shocks, while the absence of a partner or roommate suggests an increased risk of social isolation. The risks of social isolation may be more important in older people. In CMAs, seniors living alone make up about one in six apartment households (16% to 18%), whether they are renters or owners. Finally, households living in a rented apartment are more likely than others to report poor or fair general health.

Because of the extended periods spent at home, the characteristics of the dwelling become much more important. In this regard, households renting an apartment appear vulnerable, because they are more likely to express concerns about the characteristics of their accommodation, and are more likely to be vulnerable with regard to their finances, health or their social contacts.