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With social distancing, restrictions that are being applied and uncertainty Dollars with Sense members have asked how is the property market within Australia?

Research has shown a continued positive trend throughout March with the Corelogic National Hedonic Index rising 0.7% over the month. Whilst housing prices continued to climb in March, the second part of the month did see a deterioration in growth with social distancing restrictions taking place and uncertainty anxiety occurring.

With this slight deterioration evident experts are reminding us, that with the markets going into a phase of interruption, they are coming from strong foundations.

The property market like most of the Australia economy and its people will not be immune to the unprecedented circumstances we find ourselves in, to the extent will be unknown. Trends in capital growth will be reliant on how long it takes to suppress the virus and whether any further restrictions to the Australian economy, its business and its people are introduced.

Most within the industry believe housing values are likely to be shielded more so than actual sales activity considering the extraordinary levels of government stimulus being implemented and its timely manner, compassion from lenders for anxious and distressed customers, record low interest rates and the stated temporary nature of the current crisis.

Historical data shows that in volatile times people take solace in property.

If you would like to discuss this further, please remember Dollars with Sense and its panel of experts are here to help you and are main priority at this time is to assist with education and guidance. Click on the link below to book your time with us.

 

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