Property guru Tom Panos’ thoughts on COVID-19’s impact on Australia’s real estate market

PHOTO: Tom Panos is hopeful Australian real estate will see a good spring selling season. Source:Supplied

A leading property expert expects an auction lag, a sudden slump in listings – due to COVID-19 – before (fingers crossed) Aussie real estate roars back to life in spring. This is how.

An auction lag before a sudden slump in listings – as a result of COVID-19 – is set to leave the property market even shorter on stock, before (fingers crossed) it roars back to life with the spring selling season.

This is the possible scenario facing the Australian property market over the next six months as it weathers down amid the global pandemic caused by the coronavirus, according to highly respected industry figure Tom Panos.

It’s difficult to gauge the effect of the crisis on our property market at the moment given there were more auctions last weekend across the country than the weekend before and this weekend there will likely be more again.