A PIPA and PICA study calculated Australia needed about 145,000 extra investors between 2019 and 2024 to supply the 212,000 rentals required by population growth, but tax office figures showed roughly 111,000 arrived, a shortfall close to 35,000. Chair Nicola McDougall blamed tighter lending, regulation and tax rises, noting annual investor growth had fallen almost 60 per cent below its long-run average.
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