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Prices steady but markets still shielded from COVID fallout

Australian property markets continue to defy forecasts of significant price plunges, but capital growth is not likely to return until next year at the absolute earliest, as the economy continues to adjust to a post-COVID-19 reality.

Prices steady but markets still shielded from COVID fallout
Analysts are warning that distressed sales could impact property prices if government stimulus is switched off in September as planned. Photo: Shutterstock

Australian property markets continue to defy forecasts of significant price plunges, but capital growth is not likely to return until next year at the absolute earliest, as the economy continues to adjust to a post-COVID-19 reality.

CoreLogic Australian head of research Eliza Owen told a recent panel discussion hosted by Stone & Chalk and the Proptech Association of Australia that she expected the first instances of price growth to occur ear…