There will also be many mortgage holders who are still receiving...

There will also be many mortgage holders who are still receiving rent and have their jobs that will be asking banks for a mortgage repayment holiday. It will work both ways.
With unemployment going up there is no question that property prices will come under pressure, just a question of magnitude. Given the recent falls in this one, the market is saying earnings will be down, which is right but by how much?

At this level, a lot has been priced in already but doesn't mean it can't get worse.