{"id":513627,"date":"2026-06-23T02:59:31","date_gmt":"2026-06-23T02:59:31","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/513627\/"},"modified":"2026-06-23T02:59:31","modified_gmt":"2026-06-23T02:59:31","slug":"property-market-banks-forecast-housing-prices-to-fall-100000","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/513627\/","title":{"rendered":"Property market: Banks forecast housing prices to fall $100,000"},"content":{"rendered":"

Major banks are all predicting housing prices<\/a> to fall around the country in a national slowing of the property market<\/a>.<\/p>\n

The federal budget\u2019s changes to negative gearing and capital gains tax, along with still-high interest rates, have already helped push clearances down, with Cotality yesterday reporting a clearance rate of 47 per cent in capital cities last week<\/a>.<\/p>\n

\"\"<\/p>\n

A market correction could see homes in some of the nation’s biggest markets drop by $100,000 or more.\u00a0Supplied<\/p>\n

That\u2019s the lowest it\u2019s been since the COVID-19 pandemic.<\/p>\n

Now, major banks are predicting house prices will follow the plunge, with some forecasting a $100,000 drop on house values in Sydney and Melbourne.<\/p>\n

NAB predicts a 6 per cent drop in Sydney<\/a> and a 7 per cent drop in Melbourne<\/a> for the rest of the year, as part of a national 2 per cent drop.<\/p>\n

According to some modelling, this could knock just over $100,000 off the median value of a Sydney house of about $1.75 million.<\/p>\n

AMP and the Commonwealth Bank are both predicting the housing market to fall five per cent nationally into early 2027.<\/p>\n

ANZ is predicting a five per cent fall through to next year\u2019s end.<\/p>\n

AMP deputy chief economist Diana Mousina said the fall in prices was not the sign of a weakened economy, but a corrective to runaway housing values.<\/p>\n

\u201cThe expected slowing in home prices is not enough in itself to generate a serious economic downturn in Australia,\u201d she said. <\/p>\n

\u201cLower wealth growth will limit household spending but this is also helpful to get inflation to be a bit lower. It could make the RBA\u2019s job a little easier.\u201d<\/p>\n

Prime Minister Anthony Albanese<\/a> and Treasurer Jim Chalmers have struggled to sell their tax reforms, taking the line that it will help more first-home buyers enter the market.<\/p>\n

That\u2019s despite recent polling indicating most Australians are in favour of lower housing prices.<\/p>\n","protected":false},"excerpt":{"rendered":"Major banks are all predicting housing prices to fall around the country in a national slowing of the…\n","protected":false},"author":2,"featured_media":513628,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-513627","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/513627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=513627"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/513627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/513628"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=513627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=513627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=513627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}