Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 3AW account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 3AW content and other benefits.


Joining is free and easy.

You will soon need to register to keep streaming 3AW online. Register an account or skip for now to do it later.

Advertisement
Advertisement
Advertisement

Melbourne house prices expected to fall by 10 per cent

Ross and Russel
Article image for Melbourne house prices expected to fall by 10 per cent

Melbourne house prices will fall by 10 per cent when interest rates rise, experts say.

The CBA predicts house prices to peak in late 2022, before falling by about 10 per cent in 2023.

The prediction is based on the expectation that the Reserve Bank will lift the cash rate to 1.25 per cent by the third quarter of 2023.

Economist and managing director of Market Economics,¬†Stephen Koukoulas, says the prediction “seems about right”.

He says the fear of a rate hike “might cause people to just hold off a bit”.

“House prices in Melbourne and the rest of the country for that matter have risen by about 20 or 25 per cent in the last 12 months,” he told Ross and Russel.

“Just cool your heels a little bit.”

Press PLAY below to hear what Mr Koukoulas thinks of the prediction

Ross and Russel
Advertisement