Visualising the impact of COVID-19 on the Australian property market

In recent weeks several leading real estate bodies published detailed assessments of the COVID-19 impact on the Australian property market. The consensus is that, although the sales activity has significantly decreased, it is too early to conclude whether the property prices have been impacted. Based on current data, median prices remain steady despite the restrictions imposed on the real estate industry and the general recessional trends in the economy.

In this article, we will take a close look at the latest sales data in major Australian capital cities – Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra. We will establish the market trends before the spread of the pandemic early in the year and compare them to values reported in March, April and early May. These 3 months signify the introduction and subsequent easing of COVID-19 restrictions throughout the country. Therefore analysis of property market data during this period, will provide us with a valuable insight into the impact of the pandemic on the Australian real estate market…