Big banks have moved quickly to offer support to customers hit hard by restrictions designed to get on top of the rapid spread of the delta strain of coronavirus.
House prices are still surging as the temperatures plummet but things could be cooling down in the market as well as the thermometer and it has little to do with recent lockdowns.
Of all the property blows that have been landed since the onset of the COVID-19 pandemic, it’s houses in Melbourne’s high-end suburbs that have copped it the worst.
In amongst the turmoil of another round of COVID lockdown in Victoria, the RBA has kept the official cash rate steady at 0.25 per cent for another month.
It’s unfortunately looking like a pretty grim picture for Melbourne and Sydney’s property markets if the coronavirus crisis deepens.
