Australian Property has caught Coronavirus: the strong rebound in Australian property values has come to a shuddering halt with the Coronavirus lockdown. Auction clearance rates and buyer sentiment have collapsed, unemployment is surging, and mortgage availability is tightening. All of which points to heavy declines in Australian dwelling values.
In today's webinar join Nucleus Wealth's Head of Investments Damien Klassen, Chief Economist Leith Van Onselen, Head of Operations Tim Fuller and Property Buyers Advocate Catherine Cashmore, as they discuss "Australian Property Catches Coronavirus".
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In major cities watch the rental markets with significant drop in temporary churn over i.e. international students, temporary workers etc. returning home, or already stranded offshore. May allow a long awaited softening of prices, increase in affordability and realistic value in owner occupied residential property, both apartments and houses, but investment properties probably more so?
great listenening. how do you think the top end of the market will be effected? in properties worth 5-10 mil?