July 2020 - Bongiorno Financial Update

What's in this issue?

• ▪Australia capital city home prices fell -0.5% in May.

• ▪Significant policy support & the earlier reopening of the economy have made our worst-case scenario for a 20% decline in average Australian house prices unlikely.

• ▪However, our base case is for home prices to fall around 5-10%, as “true” unemployment will remain high, government support measures and the bank payment holiday end in September, immigration falls and new supply is likely to be boosted via government measures

Kind regards,

ANTOINETTE BONGIORNO
LL.B. B.Com. CFP DipFP A.S.A. Cert IV. FMB.

Level 2
431 St Kilda Road
Melbourne VIC 3004
ph) 03 9863 3316
fax) 03 9820 2518

Australian Financial Services Licence No 238977