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.


For more from ABC News, click here:
You can watch more ABC News content on iview:

Subscribe to us on YouTube:
Go deeper on our ABC News In-depth channel:
You can also like us on Facebook:
Or follow us on Instagram:
Or even on Twitter:

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.

3 Recent Items: Lockdown

  • Covid: Economic recovery will take a long time, Sunak warns @BBC News live BBC
  • Domestic violence: Hotels as safe space during lockdown? | DW News
  • Budget 2021: Rishi Sunak lays out UK covid response plan
  • Leave a Comment