Properties on the Sydney coastline. Photo: ReutersProperties on the Sydney coastline. Photo: Reuters
Properties on the Sydney coastline. Photo: Reuters
Australia’s property market, like many others around the world, has been hit by the coronavirus-induced economic downturn. But for its two largest cities, Sydney and Melbourne, Covid-19 is only part of the problem.
In these cities, a mix of stresses that include falling immigration, disparities in supply and demand and a decline in foreign investment due in part to tensions between Beijing and Canberra, are fuelling fears that the worst is yet to come.
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