Speaking at the AFR Property Summit, multiple property market experts stated that real estate markets are set to emerge relatively unscathed from the pandemic due to high demand and government support.

Kylie Rampa, CEO of Lendlease, told the summit “there will be pent-up demand in the residential sectors as you come out of a COVID environment, with different parts of the market having some very strong fundamentals behind them, driving strong results.”

Land subdivision has performed well throughout the crisis, as the government’s stimulus for first-home buyers and home packages have created further momentum in that business.

Ms Rampa also said that “the high end of the residential market has remained very strong right across the board.”

Expats returning to Australia have driven demand for high-end properties, and many are willing to pay a ‘COVID-premium’ to enter the Australian market, which has handled COVID well compared to other countries.