Business
CBA still expecting house prices to drop at least 10% – Sydney Morning Herald
Commonwealth Bank CEO says it’s reasonable to assume house prices could tumble as much as 12 per cent despite the market proving more resilient than expected in recent months.
However, he said a fall in house prices of 10 to 12 per cent, from peak to trough, was more realistic, as falling rents put pressure on house prices in inner-city areas.
“I think a reduction … in the order of 10 to 12 per cent is still a reasonable assumption,” Mr Comyn told journalists.
“We do have an expectation that in some areas, particularly in inner-city areas, there has been downward pressure on rental yields, so we think that thats going to weigh on house prices.”
Even so, Mr Comyn …
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