Early autumn optimism—which followed the easing of lockdown restrictions—faded fast with governments again forced to introduce tighter lockdown restrictions through Q4, to try and combat soaring infection rates and prevent health services from becoming overwhelmed.
With case numbers still high and health services remaining under extreme pressure, these restrictions now look here to stay well into Q1 2021, which will likely push back the recovery. Although crucially, the big differentiator this time around is the availability of vaccines, which assuming a successful rollout program and uptake, should mean economic conditions start to normalize sooner, with local economies and property markets hopefully on the path to recovery by mid-2021.
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