Property values in Covid-19: what happens if my neighbour sells under distress?

Whilst the number of new Covid-19 cases in Australia are in steady decline, showing positive signs towards recovery, the final impact to the global economy of the pandemic is still unknown.

Many investors may be concerned as to how this may impact the local property markets and more specifically, how the value of their own assets may be impacted by potential distressed sales during this period.

Pre Covid-19: property markets buoyant and robust

This is a valid question, but before looking at individual property values, it’s important to understand the underlying fundamentals of the market.

According to CoreLogic, in April 2020, even as the pandemic impacts were in full swing in Australia, the national markets still recorded an increase in property values – of 0.3%

Further, all of Australia’s capital cities have seen strong year-on-year price growth with Sydney at 14.3%, Melbourne at 12.4%, Brisbane at 3.8%, and Adelaide, Perth, ACT and Darwin all recording strong signs of recovery.

property values in covid-19

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