Original article by Mackenzie Scott
The Australian – Page: 16 : 3-Apr-20
Economists generally expect Australia’s residential property prices to decline by 5-20 per cent due to the impact of the coronavirus pandemic. UBS analysts have declined to forecast the likely effect of the health crisis on house prices, although they have warned that governments may need to step in with measures such as stamp duty cuts if the housing market falls too far. The investment bank adds that the ban on auctions and open houses is likely to prompt a sharp decline in sales volumes in the near-term.
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