Original article by Mackenzie Scott
The Australian – Page: 21 : 12-Oct-18
Investment bank Morgan Stanley has warned that residential property prices in Australia could potentially decline by 10-15 per cent. It had previously forecast a fall of just 5-10 per cent in house prices. Morgan Stanley says a pullback of the magnitude it now forecasts would have a flow-on effect across the economy, including a rise in the official unemployment rate to eight per cent. The firm also says the earnings of companies with exposure to the residential property sector would be hit.
MORGAN STANLEY AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB