{"id":26816,"date":"2020-08-15T14:06:07","date_gmt":"2020-08-15T02:06:07","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=26816"},"modified":"2020-08-15T14:06:07","modified_gmt":"2020-08-15T02:06:07","slug":"cba-boss-expects-a-10-12-drop-in-housing-prices","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/","title":{"rendered":"CBA boss expects a 10-12% drop in housing prices"},"content":{"rendered":"<p><strong>PHOTO: The Commonwealth Bank\u00a0<\/strong><\/p>\n<p>PRESS RELEASE<\/p>\n<p><strong>The Commonwealth Bank delivered a full-year cash profit of $7.3 billion, along with welcome news that the property market had been more resilient than first feared.<\/strong><\/p>\n<p>In May, CBA chief executive Matt Comyn detailed a worst-case scenario, in which values would drop by 30 per cent. Yesterday, he was more optimistic.<\/p>\n<p>\u201cI think a reduction\u2026in the order of 10 to 12 per cent is still a reasonable assumption,\u201d Mr Comyn revised.<\/p>\n<p>\u201cWe 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 that\u2019s going to weigh on house prices.<\/p>\n<p>\u201cWe would say overall, and looking at the numbers in the last few months, the housing market has been more robust than perhaps we would have anticipated from March.\u201d<\/p>\n<p>The bank also revealed modelling predicting the national unemployment rate will spike at 9 per cent this year, before dropping to 7.5 per cent by December 2021.<\/p>\n<p>\u201cThere\u2019s going to need to be some policies and investments at both the federal and state level to support greater jobs creation so we can bring that unemployment rate down,\u201d Mr Comyn explained.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: The Commonwealth Bank\u00a0 PRESS RELEASE The Commonwealth Bank delivered<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":21278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478110898,478108952,478098519,478098535,478101874,478100410,478110899,478098513,478101743,478099125,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478105550],"class_list":["entry","author-data123nz","post-26816","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-cba-chief-executive","tag-covid-19","tag-home-ownership","tag-house-prices","tag-house-values","tag-housing-prices","tag-matt-comyn","tag-property","tag-property-correction","tag-property-crash","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-the-commonwealth-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBA boss expects a 10-12% drop in housing prices - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBA boss expects a 10-12% drop in housing prices - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: The Commonwealth Bank\u00a0 PRESS RELEASE The Commonwealth Bank deliveredRead More &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"Property News Australia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PropertyNoiseNZ\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-15T02:06:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i2.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2019\/10\/Commonwealth-Bank.jpg?fit=634%2C421&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"634\" \/>\n\t<meta property=\"og:image:height\" content=\"421\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Property Noise Group\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@propertynoisenz\" \/>\n<meta name=\"twitter:site\" content=\"@propertynoisenz\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Property Noise Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/\"},\"author\":{\"name\":\"Property Noise Group\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#\\\/schema\\\/person\\\/175c8981af50e593000aa8ad7aab9d84\"},\"headline\":\"CBA boss expects a 10-12% drop in housing prices\",\"datePublished\":\"2020-08-15T02:06:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/\"},\"wordCount\":203,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/Commonwealth-Bank.jpg\",\"keywords\":[\"australia\",\"Australians\",\"CBA chief executive\",\"COVID-19\",\"Home ownership\",\"house prices\",\"house values\",\"housing prices\",\"Matt Comyn\",\"property\",\"property correction\",\"property crash\",\"property investment\",\"property market\",\"Property News\",\"propertynoise\",\"real estate\",\"real estate agency\",\"real estate agent\",\"Real Estate News\",\"The Commonwealth Bank\"],\"articleSection\":[\"Australian Property &amp; Real Estate News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/\",\"url\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/\",\"name\":\"CBA boss expects a 10-12% drop in housing prices - Property News Australia\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/Commonwealth-Bank.jpg\",\"datePublished\":\"2020-08-15T02:06:07+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/#primaryimage\",\"url\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/Commonwealth-Bank.jpg\",\"contentUrl\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/Commonwealth-Bank.jpg\",\"width\":634,\"height\":421,\"caption\":\"Commonwealth Bank\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/cba-boss-expects-a-10-12-drop-in-housing-prices\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBA boss expects a 10-12% drop in housing prices\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#website\",\"url\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/\",\"name\":\"Property News Australia\",\"description\":\"Property News | Real Estate News | Australia\",\"publisher\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#organization\",\"name\":\"The Property Noise Group\",\"url\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/wp-content\\\/uploads\\\/2017\\\/04\\\/Property-Noise-Australia.jpg\",\"contentUrl\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/wp-content\\\/uploads\\\/2017\\\/04\\\/Property-Noise-Australia.jpg\",\"width\":1120,\"height\":160,\"caption\":\"The Property Noise Group\"},\"image\":{\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/PropertyNoiseNZ\\\/\",\"https:\\\/\\\/x.com\\\/propertynoisenz\",\"http:\\\/\\\/propertynoisenz\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/propertynoise.co.nz\\\/au\\\/#\\\/schema\\\/person\\\/175c8981af50e593000aa8ad7aab9d84\",\"name\":\"Property Noise Group\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/af2bf84b4d56686eb3a56198b9c42b70fbfd61e2345c6cdbe78ec64d72d424d1?s=96&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/af2bf84b4d56686eb3a56198b9c42b70fbfd61e2345c6cdbe78ec64d72d424d1?s=96&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/af2bf84b4d56686eb3a56198b9c42b70fbfd61e2345c6cdbe78ec64d72d424d1?s=96&r=g\",\"caption\":\"Property Noise Group\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CBA boss expects a 10-12% drop in housing prices - Property News Australia","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/","og_locale":"en_US","og_type":"article","og_title":"CBA boss expects a 10-12% drop in housing prices - Property News Australia","og_description":"PHOTO: The Commonwealth Bank\u00a0 PRESS RELEASE The Commonwealth Bank deliveredRead More &rarr;","og_url":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/","og_site_name":"Property News Australia","article_publisher":"https:\/\/www.facebook.com\/PropertyNoiseNZ\/","article_published_time":"2020-08-15T02:06:07+00:00","og_image":[{"width":634,"height":421,"url":"https:\/\/i2.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2019\/10\/Commonwealth-Bank.jpg?fit=634%2C421&ssl=1","type":"image\/jpeg"}],"author":"Property Noise Group","twitter_card":"summary_large_image","twitter_creator":"@propertynoisenz","twitter_site":"@propertynoisenz","twitter_misc":{"Written by":"Property Noise Group","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/#article","isPartOf":{"@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/"},"author":{"name":"Property Noise Group","@id":"https:\/\/propertynoise.co.nz\/au\/#\/schema\/person\/175c8981af50e593000aa8ad7aab9d84"},"headline":"CBA boss expects a 10-12% drop in housing prices","datePublished":"2020-08-15T02:06:07+00:00","mainEntityOfPage":{"@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/"},"wordCount":203,"commentCount":2,"publisher":{"@id":"https:\/\/propertynoise.co.nz\/au\/#organization"},"image":{"@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/#primaryimage"},"thumbnailUrl":"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2019\/10\/Commonwealth-Bank.jpg","keywords":["australia","Australians","CBA chief executive","COVID-19","Home ownership","house prices","house values","housing prices","Matt Comyn","property","property correction","property crash","property investment","property market","Property News","propertynoise","real estate","real estate agency","real estate agent","Real Estate News","The Commonwealth Bank"],"articleSection":["Australian Property &amp; Real Estate News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/","url":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/","name":"CBA boss expects a 10-12% drop in housing prices - Property News Australia","isPartOf":{"@id":"https:\/\/propertynoise.co.nz\/au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/#primaryimage"},"image":{"@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/#primaryimage"},"thumbnailUrl":"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2019\/10\/Commonwealth-Bank.jpg","datePublished":"2020-08-15T02:06:07+00:00","breadcrumb":{"@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/#primaryimage","url":"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2019\/10\/Commonwealth-Bank.jpg","contentUrl":"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2019\/10\/Commonwealth-Bank.jpg","width":634,"height":421,"caption":"Commonwealth Bank"},{"@type":"BreadcrumbList","@id":"https:\/\/propertynoise.co.nz\/au\/cba-boss-expects-a-10-12-drop-in-housing-prices\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/propertynoise.co.nz\/au\/"},{"@type":"ListItem","position":2,"name":"CBA boss expects a 10-12% drop in housing prices"}]},{"@type":"WebSite","@id":"https:\/\/propertynoise.co.nz\/au\/#website","url":"https:\/\/propertynoise.co.nz\/au\/","name":"Property News Australia","description":"Property News | Real Estate News | Australia","publisher":{"@id":"https:\/\/propertynoise.co.nz\/au\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/propertynoise.co.nz\/au\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/propertynoise.co.nz\/au\/#organization","name":"The Property Noise Group","url":"https:\/\/propertynoise.co.nz\/au\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/propertynoise.co.nz\/au\/#\/schema\/logo\/image\/","url":"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2017\/04\/Property-Noise-Australia.jpg","contentUrl":"https:\/\/propertynoise.co.nz\/au\/wp-content\/uploads\/2017\/04\/Property-Noise-Australia.jpg","width":1120,"height":160,"caption":"The Property Noise Group"},"image":{"@id":"https:\/\/propertynoise.co.nz\/au\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PropertyNoiseNZ\/","https:\/\/x.com\/propertynoisenz","http:\/\/propertynoisenz"]},{"@type":"Person","@id":"https:\/\/propertynoise.co.nz\/au\/#\/schema\/person\/175c8981af50e593000aa8ad7aab9d84","name":"Property Noise Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/af2bf84b4d56686eb3a56198b9c42b70fbfd61e2345c6cdbe78ec64d72d424d1?s=96&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/af2bf84b4d56686eb3a56198b9c42b70fbfd61e2345c6cdbe78ec64d72d424d1?s=96&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/af2bf84b4d56686eb3a56198b9c42b70fbfd61e2345c6cdbe78ec64d72d424d1?s=96&r=g","caption":"Property Noise Group"}}]}},"_links":{"self":[{"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/posts\/26816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/comments?post=26816"}],"version-history":[{"count":1,"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/posts\/26816\/revisions"}],"predecessor-version":[{"id":26817,"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/posts\/26816\/revisions\/26817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/media\/21278"}],"wp:attachment":[{"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/media?parent=26816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/categories?post=26816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/propertynoise.co.nz\/au\/wp-json\/wp\/v2\/tags?post=26816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}