Declines felt more acutely in tech hubs like the Bay Area, where more than a quarter of homebuyers report volatility has impacted their ability to afford a down payment

For 70% of homebuyers, the recent volatility in the stock market due to the novel coronavirus had not impacted their ability to afford a down payment in early March, according to a survey of more than 1,000 Redfin customers who plan to buy and/or sell a home in the next 12 months. While 17% of respondents were unsure of the impacts, 13% of respondents said the stock market volatility had impacted

Uncertainty over the effect of coronavirus may have sent stocks plunging to 30-year lows but property values are unlikely to get a similar hit – even in a recession, real estate analysts claim.

There is still considerable uncertainty over how the pandemic will impact the market but recent interest rate cuts suggest it will be largely insulated from a major crash.

The housing market also has a history of performing relatively well after economic shocks compared to the more volatile share market, according to CoreLogic head of Australian research Eliza Owen.

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