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Property prices yet to see full scale of COVID-19 pandemic’s impact: economists – Domain News

Many economists are sticking to their forecasts of further property price falls, with the market so far cushioned by massive stimulus measures. Here’s what could be in store.

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Property markets around Australia are yet to see the full scale of the coronavirus crisis impact on prices, according to economists, as stimulus measures soften the blow.
In the early days of the COVID-19 pandemics arrival, initial forecasts for property price drops ranged from 10 per cent to 15 per cent.
Five months on and most believe prices are running their course as first forecast but some banks have revised their predictions up for smaller cities and down for major centres, notably pand…

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