Australia has entered a housing “supercycle” in which pent-up demand for new homes, and the resulting higher prices, could triple the number of apartments starting construction to 75,000 a year, Qualitas managing director Andrew Schwartz says.

The real estate fund manager on Tuesday said it had deployed, or invested, a record $2.4 billion in private credit over the six months to December – 85 per cent of it for new housing developments – and as interest rates fell the pick-up in demand would push production higher.