It’s taken a while but it’s finally here. Domain entered a full blow house price panic on the weekend with wall-to-wall coverage. We begin at the AFR:
An exclusive analysis by CoreLogic for AFR Weekend shows the potential scale of the downturn, which could, nominally, leave the buyers involved in 830,000 property sales in the two biggest cities under the water, if prices fall 25 per cent from peak to trough.
If the downturn in the two biggest capital cities tracks in line with some economists’ bearish forecasts of 25 per cent falls, property prices will wind back even further to levels last seen in Sydney in October 2014 and January 2015 in Melbourne and the effects will be felt far and wide.
