One in four Australian homes now worth more than $1m with house prices tipped to fall in 2023 by CBA and ANZ banks.
November 23rd, 2021 Posted by Gobbill Lifestyle, Property 0 thoughts on “One in four Australian homes now worth more than $1m with house prices tipped to fall in 2023 by CBA and ANZ banks.”ANZ senior economists Felicity Emmett and Adelaide Timbrell now expect capital city prices to rise 6 per cent in 2022 and then fall 4 per cent in 2023, due to rising fixed mortgage rates, more supply on the market and buyers unable to afford more increases.
CBA says that Australia’s “red hot” property market has started to cool, with prices to peak next year and sink 10% in 2023 as higher borrowing costs and “natural fatigue” set in, the nation’s largest mortgage lender predicts.