Amid the hurdles that we've undured over the past months including devastating Bushfires, Climate Change fears and COVID-19, the outlook for Australia's property market for the second-half of 2020 is tricky to predict.
However according to Domains resident economist, the outlook for Australia’s property market is much stronger than just a few weeks ago, but conditions are likely to remain subdued in most parts of Australia in the second half this year.
Prices and sales volumes appear most likely to rebound in Perth, Adelaide and Canberra, whereas in inner-city Melbourne, inner-city Sydney, Hobart and the Gold Coast, prices will probably fall due to a heavy reliance on international tourism and migration. The recent COVID-19 spike in Melbourne may also weigh on prices.
But even in these areas, price falls will likely be modest, and much smaller than predicted at the height of the COVID-19-related shutdowns. For more information and detailed analysis, refer to Trents article on Domain - click here