Opportunity for strong property recovery post-Coronavirus

By Olivia Gee · · 2 min read
Fact Checked
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While property transactions have seen a considerable downturn during the Coronavirus lockdown, Australians are keeping a keen eye on the residential market, according to REA’s executive manager of economic research Cameron Kusher.

“In particular, they’re doing research and thinking about their next move once this is all over,” Kusher said in a live webinar this week. 

“When we do start to come out of this, the cost of borrowing is going to be very low, and it’s going to encourage an increasing number of people to go and upgrade their home, move to a new property or build their dream home. It could also encourage people who are renting to get into property as well.”

While low consumer confidence means big financial moves aren’t a high-priority right now, Kusher said this could still represent “good opportunity for a strong recovery” post-crisis.

Supporting this idea, there’s been a recent 14% rise in ‘for sale’ search activity on realestate.com compared to the same period last year. 

Additionally, the emergency RBA rate cut has led to rapidly declining mortgage interest rates, which also bodes well for borrowers.

RELATED ARTICLE: Government extends support to First Home Loan Deposit Scheme applicants amid coronavirus auction ban.

The REA doesn’t anticipate a considerable fall in house prices down the line but Kusher noted potential price shifts in the rental market, linking a surge in new realestate.com rentals to a drop-off in Airbnb listings.

“That product has essentially become unviable at the moment, so people are looking for someone to rent out those properties for the next six to 12 months,” he said. “That’s probably going to be deflationary for rental prices, so the cost of renting is likely to come down.”

If you’re a homeowner facing financial hardship, read about bank relief options, or investigate if you’re eligible for refinancing.

Last updated 24 May 2025 Important disclosures and comparison rate warning*
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    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.49 % p.a.
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    5.40 % p.a.
    Initial monthly repayment
    $2,836
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    Initial monthly repayment
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  • Fixed Home Loan

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    5.69 % p.a.
    Fixed 2 years
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    6.00 % p.a.
    Initial monthly repayment
    $2,899
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    Interest rate
    5.74 % p.a.
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    5.77 % p.a.
    Initial monthly repayment
    $2,915
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    • BCU Bank has confirmed a rate cut of 0.25% p.a. effective 10 June
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    • Fixed rate
    • Owner occupier
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    • 10% min deposit
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    5.74 % p.a.
    Fixed 2 years
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    5.81 % p.a.
    Initial monthly repayment
    $2,915
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    • Additional repayments up to $20,000/year
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  • Variable Home Loan

    • Owner occupier
    • Principal & Interest
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    Interest rate
    5.78 % p.a.
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    5.82 % p.a.
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    $2,927
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    5.88 % p.a.
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    $2,959
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  • Basic Variable Home Loan

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    • 40% min deposit
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    Interest rate
    5.88 % p.a.
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    5.91 % p.a.
    Initial monthly repayment
    $2,959
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    • P&N Bank has confirmed a rate cut of 0.25% p.a. effective 10 June
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    5.89 % p.a.
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    5.92 % p.a.
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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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