Prices of big city houses to fall 25pc

Original article by Melissa Yeo
The Australian – Page: 26 : 24-Jan-19

Shane Oliver of AMP Capital says residential property prices in Melbourne and Sydney could fall by up to 25 per cent from peak to trough. Oliver had previously flagged a potential fall of up to 20 per cent, and he has warned that the downturn in the housing market could impact on Australia’s economic growth. Oliver also expects the Reserve Bank to reduce the cash rate by 25 basis points in August and November, although he says weak economic data could prompt it to move sooner.

CORPORATES
AMP CAPITAL INVESTORS LIMITED, RESERVE BANK OF AUSTRALIA, CORELOGIC AUSTRALIA PTY LTD, KPMG AUSTRALIA PTY LTD, DEMOGRAPHIA

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