Property market 2020: Pandemic fallout creates perfect storm
Covid-19 worsens housing shortage, fuels demand from cash-rich buyers and returning emigrants
Thu, Dec 10, 2020, 06:00
Clearly 2020 will be remembered as a year like no other and Covid-19 will leave an indelible mark. What is most surprising is that there have been some positives for the residential property sector in all of this, and at worst the challenges facing the industry are largely the same as the ones that were there at the start of the year.
A positive takeaway will be a streamlining of the way property is transacted. Overnight the industry was forced to drive much of its business online. While some early structures were in place to facilitate remote viewing of properties nothing could prepare the industry for an entire shift overnight to online viewing appointments via Zoom, Facebook etc.