Property prices now predicted to decline gradually, rather than falling off a cliff | ABC News

Melbourne’s lockdown has increased fears that the residential housing market is headed for a COVID prompted drop.

Back in May, the Commonwealth Bank were suggesting that property prices could fall up to 30 percent, as the worst of the Coronavirus pandemic and economic fallout lay ahead.

Now though, sentiment seems to have shifted and a more orderly and modest retreat of house prices is predicted. Andrew Robertson has the story.

#PandemicPropertyPrices

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In This Story: Lockdown

During the 2020 Covid-19 epidemic, lockdown has come to mean the practice of attempting to control transmission of the virus by means of restricting people’s movement and activities on a broad scale, usually on a national or state-wide basis.

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