The Prime Minister Scott Morrison says Australia is “many weeks away” from easing coronavirus restrictions as the country works towards flattening the curve. While we wait for social distancing measures to be relaxed, it’s worthwhile considering what our economy will look like post COVID-19.
It’s clear that COVID-19 is going to impact every part of the economy – social distancing is preventing people from going about their everyday lives in terms of work, recreation, travel and spending time with family and loved ones. But like other downturns, some industries will bounce back more rapidly than others.
The real estate industry could bounce back quickly for two reasons: it has not yet been forced into a full shutdown; and the cost of borrowing is the lowest it has ever been.
To read the full article and watch a video giving an Property Market Update, click here