PHOTO: AMP chief economist Shane Oliver.

CoreLogic has joined the list of property analysts downgrading their outlook for the housing market, with head of research Tim Lawless predicting values in Sydney and Melbourne will fall 18-20 per cent from peak to trough.

“It’s a buyers’ market,” he said.

Mr Lawless had previously expected a 15 per cent drop in values for the two cities. CoreLogic joined the chorus of economists and commentators who have voiced increasingly pessimistic expectations for 2019, with most not expecting a turnaround in housing until well into the following year.

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