It’s unfortunately looking like a pretty grim picture for Melbourne and Sydney’s property markets if the coronavirus crisis deepens.
After an emergency cut to interest rates just weeks ago the RBA has this week left them unchanged at 0.25 per cent at its April meeting.
The Australian Banking Association has extended its Small Business Relief Package to include 98 per cent of all businesses with an Australian bank loan.
Ever-tightening social distancing measures saw a good portion of Australia’s auctions withdrawn on the weekend, weakening the property market.
Emergency laws are being debated in Tasmania that would protect renters from being evicted for four months during the coronavirus crisis.