Property Downturn Deepens: Banks Warn of 15% Slump as Treasurer Insists Prices Will Rise

A 14.5% peak-to-trough decline in Sydney house prices is now forecast by ANZ, with a recovery not expected until 2028 — a dramatic revision from just two months ago.

Money Moves

• ANZ Slashes Forecasts — The bank now expects capital city house prices to fall 10.6% overall, down from its previous projection, with the downturn spreading from Sydney and Melbourne to smaller capitals.
• RBA Holds Rates at 4.35% — Governor Michele Bullock warns house...