With Australia in a COVID-induced recession, residential property is not immune to falling economic activity. Yet housing prices are proving surprisingly resilient. Only months ago, economists were forecasting a housing price slump of 20% or more. Now, most have revised their forecasts to price falls of between five and 10%.
The Pulse Large‐scale fiscal and monetary stimulus is being deployed by countries around the world as governments confront the extent of the economic impact of the coronavirus.