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House prices Australia: Commonwealth Bank boss expects 10 per cent drop – NEWS.com.au
House prices Australia: Commonwealth Bank boss expects 10 per cent drop
The coronavirus pandemic has not hit the property market as hard as first thought, according to head of the Commonwealth Bank.CBA chief executive Matt Comyn had tipped three months ago house prices could drop by 30 per cent in a “worst-case scenario”.
But the boss of Australia’s biggest bank has now revised that figure to at least 10 per cent, saying the property market had been more resilient than expected.
He said prices had drifted only slightly lower and described the bank’s original predi…
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