Business
$334k wiped from home values in ‘extreme but plausible’ prediction – Yahoo Finance Australia
Such a fall would be comparable to Ireland’s house price crash during the GFC.
Australian house prices could fall by 40 per cent in an extreme but plausible scenario, the Reserve Bank has stated in a paper discussing household debt.
Such a fall would take the median national house price from $552,912 down $221,164 to $331,298.
And in Australias most expensive housing market, Sydney, that value loss would take the median price from $866,110 to $531,666 a loss of $334,444.
However, the RBA said that while this is plausible, its unlikely that this situation will play ou…
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