CoreLogic who track Australia’s house prices and more, recently released their chart pack and it showed some interesting facts:
There was an improving housing market prior to the onset of COVID-19:
Even per State, the capital city markets were well into an upswing before COVID-19:
Both CBA and ANZ Bank are forecasting falls from peak to trough of 10%.
As per the above graphs, we have seen similar peaks and troughs in the past, so if Australia escapes with just that this time around, it will be a great result!
Have a great weekend, stay safe, and if you have any queries in regards to the effect of the Coronavirus on our property markets, please contact enquiries@propertyclub.com.au.
Property Club is at the forefront of the best properties in the best areas – make contact with your Property Mentor or hit enquiries@propertyclub.com.au for further information on the great options available for Club members!
Troy Gunasekera
National Manager