June Quarter 2020 worse than the GFC

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The GFC was no picnic, but the June quarter for residential real estate was an unmitigated disaster, particularly if the focus is moved away from price. If price is where our concerns are, then the greatest fall from the March Quarter to the June Quarter for apartments was Darwin which came off 14.7%, however Canberra only declined by a minimal 0.7%.

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Is this the recession we had to have?

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Whilst most Australian’s at this point in time will not know anyone who has been impacted by the corona virus regarding their health, they will undoubtedly know many people who have lost their job or people who have been forced to take a reduction in pay and or hours. This recession may well decide how Australian’s embrace the next two decades.

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