The property market is being tugged in all directions. The full disruption and impact from the Covid-19 outbreak has yet to run its course. There has been post Covid-19 relief in recent weeks, but yesterday’s announcement of community transmission underlies the fragility of our recovery. Confidence will be dented. That said, there are fundamentals that will provide support to the property market, including underlying demand and low interest rates. There will be opportunities, but also uncertainty.
So why are house prices still holding up in the face of uncertainty? Here are four reasons according to independent economist Tony Alexander.