PHOTO: Housing market faces worst slump since GFC
THERE’S no relief in sight for Australian property owners as experts warn house prices will continue to tumble well into next year.
According to Morgan Stanley’s latest forecast, property prices could plummet by up to 15 per cent — meaning we’re now facing the biggest drop in decades.
In fact, the organisation’s forward-looking housing model has dropped to the lowest level ever recorded.
“We struggle to see improvement in any of our components over the next year, with pre-existing headwinds of net supply, an RBA on hold and sustained focus on lending standards, all independent of potential negative gearing/capital gains tax changes,” Morgan Stanley said in the report.
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