Construction in NSW partially re-opened on July 31 in all but five local government areas as Covid-19 delta strain case numbers proliferate.
But developers, project managers and builders are still suffering sleepless nights working through medium-term challenges caused by the lockdowns.
New research by UBS’s real estate investment team indicates the investment bank expects the net property income for landlords that own retail and office property assets to be negatively affected by recent and current lockdowns. The recovery of income from ancillary assets such as car parks will also be pushed out.
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