Housing market could take hit with less open homes, auctions expected due to coronavirus

PHOTO: Property commentator Ashley Church says less people will go to open homes and auctions amid the Covid-19 pandemic.

The housing market could be favourable for those looking to get on the property ladder with less open homes and auctions predicted due to the Covid-19 coronavirus outbreak.

It seems no corner of the economy will remain untouched by the coronavirus pandemic, and property commentator Ashley Church told TVNZ1’s Breakfast today it’s expected the housing market will flatten too.

“It’s already been impacting on the market in the sense there’s already been measures taken over the last few weeks, in particular over the last couple of days, to obviously prop up the market, the overall economy, and make sure things continue as much as possible as they have,” Mr Church said.

“A couple of things will change as a result of this, one of them is that I would expect open homes to significantly reduce if not disappear all together for a few weeks and maybe even a few months and that’s because people obviously won’t want to be in situations when they’re in contact with other people.”