9th Feb 2026
3 minutes
The Hidden Holding Costs
We recognise that, across much of the country, housing supply constraints driven by government regulation and elevated construction costs are likely to persist. At the same time, demand is expected to remain resilient, supported by population growth, strong employment conditions, favourable lending practices, and meaningful government incentives. On balance, this suggests that the broad-based growth we have become accustomed to should continue, albeit at a more moderate pace. This moderation reflects an interest rate environment that has been revised upward rather than downward, though it remains manageable in the long term.