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Virus Epidemic and Its Effect on Property Price

?? VIRUS EPIDEMIC AND ITS EFFECT on #property price. With Corona Virus outbreak that is worsening, and with its economic impact that seems to be visible especially in the tourism and retail industry, as a Buyer’s Agent I am curious how this will eventually play out towards the housing market. Read on ⬇️

The graph below shows WA property price history from 1974 to 2019, and I highlighted the years when SARS outbreak was happening (around 2002-2003). From what I could see, it seemed that SARS outbreak has not put a dent in the housing market.

COVID-19 however, has already proven to be a lot bigger than SARS. The number of deaths has definitely surpassed SARS. From what I can see (including after talking to some local business owners), local Asian restaurants for one have seen the dwindling of customer attendance because of it.

Retail and tourism industry which many of their customers are Chinese will definitely feel the pinch. China has reported that a lot of its businesses are even struggling to keep their doors open and unable to pay their workers’ wages. And these might cause “domino” effect.

In my personal opinion, it will all depend on how long this outbreak will last. To this date, since the COVID-19 outbreak started, I have not seen much impact to the housing market. However, just like mining downturn, if we are not careful it might catch us by surprise.

As for me, I will keep investing in property, that is for sure. High yield property combined with vacancy rate that is lowering and lowering, I believe I have minimised my risk. What’s your thoughts?

#investing #propertyinvestment #realestate #propertyinvesting

Virus Epidemic and Its Effect on Property Price
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  • Property Investing
  • Property Investing

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