Headwinds strong but property market fighting back

PHOTO: Homeowner Bill Verco and LJ Hooker Kensington/Unley’s Chrissy Esau outside Bill’s house for sale at 10 Blyth St, Glen Osmond, which is hitting the market next week. Picture: MATT LOXTON Source: News Limited

What does coronavirus mean for our real estate market? Find out what impact its having on house prices, how real estate agents are fighting back and why you have every reason to buy and sell with confidence

CORONAVIRUS may have caused havoc in many aspects of everyday life but real estate experts say South Australians still have every reason to buy and sell with confidence.

The SA property market has slowed since the virus hit but according to real estate agents, buyers are still out in force, and those looking to sell should act now.

Realestate.com.au chief economist Nerida Conisbee said as the conditions surrounding coronavirus were changing, buyers and sellers needed to take it day by day.

“This is a short-term health crisis and it’s likely that with all the stimulus in the market, the economy will roar back into strong economic growth once the pandemic abates,” Ms Conisbee said.

“The residential sector hasn’t been significantly affected just yet, and if we look forward to spring, it’s likely the property market will surge ahead on the back of unprecedented stimulus being put into the economy and a return to normalcy for buyers and sellers.”