Australia's housing market is set to drop 18 per cent, according to one major bank, and new data shows regional areas are joining Sydney and Melbourne in the slide.
ANZ tips an 18-per-cent fall for housing prices in 2022-23 before a 5-per-cent rebound in late 2024CoreLogic says some high-end regional property markets are already falling and other areas will follow
ANZ's economists expect the RBA to hike its cash rate target to 3.35 per cent before the year is out, which would send typical variable mortgage interest rates close to 6 per cent. The economists pointed to a large reduction in maximum loan sizes as banks test whether mortgage applicants can service their loans at much higher interest rates than earlier this year.
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