ANZ predicts nearly a 20 per cent drop in house prices next year

Perth Live with Oliver Peterson

English - August 17, 2022 07:48 - 6 minutes - 5.88 MB
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One of Australia's big four banks has predicted a significant change to property prices nationwide by the end of 2023.

ANZ has tipped housing prices to fall 18 per cent across Australia's capital cities, and by 12 per cent in Perth in 2023.

But a "modest rebound" of five per cent is expected by the end of 2024.

Senior ANZ Economist Adelaide Timbrell told 6PR's Oly Peterson the predicted drop is in response to rising interest rates and the subsequent reduction in borrowing capacity.

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