House prices could drop up to 20% as lockdown grinds property sector to a halt β Bryan Biehler
Bryan Biehler of Huizemark says the industry is on freeze frame as most of the supply chain remains on lockdown until stage 3. Even if the ruling for the industry can be brought forward to stage 4, technology and skill sets currently employed by the industry are ill prepared for the new normal. The result is a potential drop of up to 20% in house prices and 30% of agents losing their jobs. β Vanessa Marks
If you look at the industries that are under pressure, we know newspapers are having a rough time, airlines, tourism. One that doesn't immediately come to mind is the real estate industry or in particular people who facilitate the buying and selling of houses and Bryan Biehler is the managing director of Huizemark. You must be feeling like many of the other worst affected industries in this country β houses are sold through show days, agents have to get out and talk with buyers and sellers. But maybe it's not all that bad. What 's actually going on in your sector?
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