Coronavirus send Australian house prices tumbling

Economists have forecast house prices in Australia will fall following coronavirus-related restrictions on real estate operations and the mounting tally of huge job losses across the economy. On-site auctions and open house inspections will be banned from midnight on Wednesday under the government’s latest attempts to prevent the spread of Covid-19. And although industry insiders remain bullish about the market’s ability to emerge from the restrictions with renewed demand, economists have painted a “disturbing” picture of the Australian jobs market, which could spell doom for property prices.