One expert is forecasting prices to fall up to 20 per cent in 2023 - with the bottom of the market occurring in the September quarter. 9News
Eight straight rate hikes, a cost of living crisis and a lack of real wage growth saw many buyers that were ready to take the plunge in 2021 retreat from ever-growing mortgage repayments and vendors with dollar signs in their eyes.
But that now leaves many wondering what will happen in 2023, and it seems that the end may be in sight. "Australian home prices are likely to fall further as rate hikes continue to impact, resulting in a top to bottom fall of 15-20 per cent, but with prices expected to bottom around the September quarter, ahead of gains late in the year as the RBA moves toward rate cuts," Oliver forecasts.
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