Will Coronavirus Impact Property Prices?

Major housing markets in Australia are expected to realise solid gains in prices over the next two years, but two things could potentially slow down the price forecasts: the coronavirus outbreak and a potential macroprudential measure, said an economist.

Trent Wiltshire, an economist at Domain, said the coronavirus outbreak in China might have an impact on Australia's economy, albeit only in the short-term.

"It will hit the tourism and education sectors particularly hard. But it's possible the outbreak will be much more severe and cause a significant economic slowdown in China, which would have a big impact on Australia's economy," he said.

In a recent statement to the House of Representatives Standing Committee on Economics, the Reserve Bank of Australia Governor Philip Lowe said the outbreak of the coronavirus represents a new source of uncertainty.

Read More....