Sydney house prices to drop 12pc in 2023: CBA
Nila SweeneyReporter
Sydney house prices are forecast to fall by 12 per cent and in Melbourne by 10 per cent in 2023, as the RBA takes the cash rate to 1.25 per cent, according to the Commonwealth Bank of Australia’s latest analysis.
Nationally, dwelling prices are expected to drop by 10 per cent as higher interest rates put downward pressure on demand, wrote Gareth Aird, CBA’s head of Australian economics.
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Nila Sweeney writes on property from our Sydney newsroom. Email Nila at nila.sweeney@afr.com.au
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