PHOTO: House prices
With the economic impacts from COVID-19 set to trigger a rise in unemployment and a drop of income for many, a leading economist says the housing market is also expected to take a hit.
While that’s bad news for those selling their homes, for would-be buyers it comes as a silver lining to the COVID-19 pandemic.
Colour drained from real estate agent’s face as he realised he’d been defrauded of $120k in ‘sim hijacking’ scam
“Most people like to talk the market up which is to the benefit of the sellers,” economist Cameron Bagrie told The AM Show on Monday.
“Well, the buyers don’t do too well out of that sort of commentary. What are we going to see over the next one to two years? Well, it’s going to be coming more in the buyers’ favour.”
House prices rose in March for the fourth month in a row, though the number of properties sold fell, a drop experts blame on the impact of COVID-19.
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