Covid-19 has been a very stressful time financially. This is because it has affected thousand of people’s income and jobs. First and foremorst, the RBA has responded to Covid-19 by cutting rates to an all time low. This is mainly to help fuel and stabilise the economy. For property owner, this helps lower cost of borrowing. Having said that, the property market has seen a liquidity issue with people having trouble selling their properties. This has caused the property market to slow down abit despite the decrease in interest rates by the RBA. This is probably due to processes taking more time such as banks taking longer to approve loans. However, this is only a tempopary setback for the property market as it is likely to rise again. To find out more, watch the video above to see how Covid-19 has affected the property market and the economy in Australia.

Here at Rise High, we are here to help and guide you every step of the way. Be sure to read our latest blog – ‘Covid-19 – please remember, you are not alone!‘