; though the risk to Melbourne prices is greater because of the city's return to a full, six-week lockdown.However, prices are still up by more than 10 per cent in the past year, figures from CoreLogic show.Nevertheless, average price changes can mask big differences in various property market sectors.
He expects home prices to fall by 5-10 per cent nationally, with price dips in Sydney and Melbourne at the top end of that range. "Melbourne, particularly, is at risk as its renewed lockdown pushes more businesses and households to the brink," he says., expect the COVID-19-induced recession to result in peak-to-trough price declines of 10-15 per cent.
Tim Lawless, Asia-Pacific research director at CoreLogic, says "stay at home" rules would likely mean the market is significantly disrupted again, after an improvement in sales numbers since Easter.
I'm from the antipodes and in my opinion Australia is always very worried about property prices. Always. Does everyone use properties to earn money? Buy more than 2 houses per family should be forbidden. The world is producing above its needs. Humanity is so immature...
Oh no how terrible 🙄 🎻
So is this still all we care about? Will this make action to eliminate the virus more likely?
These “experts” - they’ve lived through multiple pandemics like this one before which is what gives them their expertise?
Politicians of all flavours would be loving this news considering they have a seemingly secure full income. It will give them a chance to add to their existing stock of investment properties. Know any poli that owns only one house?
Even though I put up with allot of crap trying to buy a home last year after the government reinflated the market, I feel for the FHBs who succumbed to FOMO or had to push themselves to the limit to complete. We have disgusting home prices in Syd/Mel and a reset would be good.
auspropertyscam Well suffer in your jocks folks... ye asked for it!
auspropertyscam Good.
Whoa.. finally expressing the pandemic in terms we can understand!
it would make houses more affordable Let few developers to go bankrupt for their greed
Another reason we should have gone for eradication
As they should! Australia property/housing was already in a bubble and due for another 2008 X5!
Experts are also expecting more hoapitalisations and deaths, but it’s more important to to report on the effects of COVID-19 on capitalism.
The Chinese investors will be upset!