Live Updates > Live Update Details
2026-11-02 10:34:24
[Capital Economics: Australia's current housing market downturn may be the first in modern history with house prices falling by at least 10%] (1) Marcel Thieliant, head of Asia economics at Capital Economics, said that the current downturn is likely to be the first in modern Australian history with house prices ultimately falling by at least 10%. (2) He pointed out that residential sales have returned to the lows of late 2022, highlighting weak housing demand; auction clearance rates also point to a rapid decline in house prices. (3) He added that despite the weak house prices this year, housing affordability remains extremely tight, and tax adjustments in the May budget have dealt a heavy blow to investor demand.
