How Will COVID-19 Affect Australia’s House Prices and Real Estate Market CORONA IRUS Most common trolled question since the COVID-19 Outbreak has started: Is house prices affected due to Corona virus? With daily changes, updates, new information, Real Estate Agents and many businesses struggling to keep themselves protected it’s hard to say the long term effects of covid-19 are simply obscure. Maybe prices will go down or touch the sky. Until now people have been talking about easing credit conditions and interest rates cuts. The Government Should be Spontaneous According to an Australian professor of public policy and economics said that the government should need to take effective operations to contain the virus and alleviate its economic effects. It could be bad as the Great Depression if we don’t get the right response. The bottom line is it will be negative,if prices will go down with an uncertain Market. Buyers are Still Active Despite all these agitations, there are still some active buyers and sellers. Buyers who are in very procure jobs are actually in a strong position because the overall market is debilitated. REAL ESTATE PURCHASE AGREEMENT properts described below (the hpen as follows What’s going in the selling market? If you are a seller and want to sell the property, you must know that things are going to be exhausted. There will still be people who need to sell for any reason. The turnover will deteriorate but there will still be properties coming into the market. About Property Investor The real estate market seems to be more difficult for the investors. Yes, somehow investors can experience benefits in falling rates but on the other hand that benefit is neutralized by declining rents. Then, along comes Coronavirus this weakens it because the economy will emphasize the downward pressure on rents in the short period. Overall Picture is Same for Everyone The broad point applies across all markets, whether the market is doing slightly dissimilar in state to state. Coronavirus is everywhere and impacting on the property market too. The Melbourne market has been strong in comparison to Westren Australia. In westren Australia,rents have fallen and maybe it appears to establish again. Whereas, In Melbourne vacancy rates are not much higher but undoubtedly the Coronavirus will increase the vigilance among buyers and reassure lots of sellers to defer. Ray of Hope 2021 Ultimately, it’s a tough time but our history will show that we will soon recover and things will eventually get back to normal. On the other hand, 2021 will be a hard year for the economy. The financial situation of small and medium sized businesses will be harshly affected. Truth is that if you are a restaurant 2021 owner and nobody is coming to the restaurant, you have no other option to cut short your staff. Things will take time to be on a better side. Content US 0401 489 262 naval.aulakh@cranbourne.rh.com.au Suite 1, 68a High St, Cranbourne VIC 3977 Content us :- https://realestate69991280.wordpress.com/2020/07/28/how-will-covid-19-affect- australias-house-prices-and-real-estate-market/read more
How Will COVID-19 Affect Australia’s House Prices and Real Estate Market
