Australian House Prices to Fall 10 Percent in 2023 After Interest Rate Rise: Commonwealth Bank

Australian House Prices to Fall 10 Percent in 2023 After Interest Rate Rise: Commonwealth Bank
A ‘SOLD’ sticker is seen on a sale sign in front of a house in Canberra, Australia, May 18, 2021. Lukas Coch/AAP Image
Rebecca Zhu
Updated:

The Commonwealth Bank of Australia (CBA) expects house prices to fall by around 10 percent in 2023 after the official interest rate lifts.

Gareth Aird, the head of Australian economics at CBA said a further tightening of macro-prudential policy looks unlikely, and the housing market will see moderate growth over the first half of 2022.