Residential rental market over-supplied as demand wanes
29 Nov 2021
Tenant demand for rental property in the third quarter of 2021 remains weak. This low demand is perhaps not surprising considering that the hard lockdown in the second quarter of 2020 wiped out 14% of all jobs. Even after some subsequent initial job recovery, the unemployment situation remains concerning at 34.4%, meaning 1.4 million pre-pandemic jobs have been lost.