Sydney Couple Hoping The Coronavirus Triggers A Housing Market Crash

Married couple Michael and Martha Zaman say Sydney’s house price boom has completely locked them out of the property market.

“We can barely afford rent on our one bedroom unit to be honest,” says Michael. “Most of our friends are in the same boat.”

The couple say they want to start a family, but are reluctant to bring up a child where they live now in Mount Druitt in Sydney’s west.

“We’ve wanted kids for a while,” says Martha. “It looks like the only way of making that happen is to move to Canberra or something like that.”

But there is a glimmer of hope.

Real estate experts say the coronavirus could trigger a housing market crash.

“And that might be the only way we can afford to stay in Sydney,” says Michael.

Sydney’s housing market has big exposure to Chinese investors and foreign students.

And, as fears of a coronavirus pandemic rise, there’s growing speculation about a house price plunge.

Coronavirus has already claimed 3000 lives, one of those in Australia.

“Obviously we don’t want people to die,” says Martha Zaman. “But we do want somewhere decent to live.”