There seems to be widespread acknowledgement that the property market will feel the impact of the Covid-19 downturn this year.
One of the big drivers of property activity is confidence. If you're not confident that you're going to keep your job, or that your business is going to survive, you're much less likely to be willing to splash out on a new house.
Property research provider Corelogic is now predicting a drop in turnover by anything up to 25 per cent over the rest of this year. Some price weakness should follow. But how much depends where in the country you are.
Places such as Queenstown will suffer more of a downturn than those that don't rely so heavily on tourism. It's estimated that about 20 per cent of Queenstown's economy relates to accommodation and food services, which are going to suffer significantly while our border remains closed..
All this crystal ball-gazing might have you wondering what it means for your planned property moves.