Analysts predict Australia home prices could fall 15%
Economic experts forecast a potential 15% drop in housing values, surpassing the previous record decline of 8%.
Australia's housing market faces its sharpest downturn since the 1980s. Leading economists now project home values could slide by as much as 15%, exceeding the 8% losses seen during prior national recessions in 2017 and 2022. Cameron Kusher, head of Kusher Consulting, stated that the pace of decline has accelerated. He noted forecasts are being revised downward because recent price drops were larger than initially predicted. The nationwide market has already lost 5% from its recent peak. Kusher warned prices could dip between 10 and 15 percent by December. HSBC chief economist Paul Bloxham added that rising interest rates will push housing costs further down.
