NAB Residential Property Survey Q2-2020
Survey Highlights:Housing market sentiment collapsed in Q2, with NAB’s Residential Property Index falling to a survey low -33 points (+38 in Q1). All states turned down sharply, but the impact was biggest in VIC and NSW, where prices and rents are expected to fall most in the next 12 months. New and established housing markets are being supported by owner occupiers, but higher activity from foreign buyers was also reported in Q2, especially in new property markets in VIC. Employment security is now the overwhelming impediment for buyers of existing property, with new research also revealing the biggest impacts to the housing market going forward will likely come from rising unemployment, job uncertainty and consumer confidence, according to around 8 in 10 surveyed property experts. For further details, please click the link below.
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