PHOTO: Major economists find little common ground in predicting what’s next for the property market.
Economic experts are at loggerheads over the Australian property market’s health and outlook, with UBS arguing a 35 per cent slump in the mortgage borrowing power of Australians, and steep house price falls, is possible.
Meanwhile, AMP chief economist Shane Oliver expects another 5 per cent fall this year alone, but no house-price crash, and ANZ economists argue the worst is behind the property market and prices will rise this year and next.
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