Property prices set to slump as much as 13%, says HSBC chief economist | The Business | ABC NEWS
HSBC chief economist Paul Bloxham says the downturn could see house prices fall 13 per cent from a peak to trough. "We're already down about 6 (per cent), a little bit more if you look at the daily measure, so we're almost halfway through the house price decline that we're expecting. We think house prices will decline for the next couple of quarters," he said. "The thing that's going to have to happen before house prices start to stabilise and then finally turn around is that interest rates ha
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