“The recovery phase is expected to be relatively quick and very strong in the property market.”
Are property economists confident?
Sarah Hunter Chief Economist at BIS Oxford Economics is confident this pandemic is having a large impact, but it will be a ‘short, sharp, shock to the Australian economy. It’s expected that once restrictions are removed from the Government and normal activity can return, there will see a ‘v-shaped recovery’. This is unlike the slow recovery experienced in the GFC.
House Price Growth
BIS Oxford Economics forecasts show, by September 2020, strong growth rates are expected to return to the property market; with Sydney, Melbourne, and Brisbane to increase their growth rates to 8-10%.
I hope you found these insights useful.
I hope you found these insights useful.
IPS is receiving new information daily from reputable economists and research houses.
Source: (30th March 2020), Sarah Hunter, Chief Economist at BIS Oxford Economics