House prices tipped to plummet 8 percent | Sunrise

By Sunrise

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HSBC bank forecasts Australian house prices will fall up to 8% by the end of next year, describing current declines as only the beginning. The bank warns first home buyers against 'catching a falling knife', whilst lending conditions tighten with banks reducing loan approvals and cancelling pre-approvals. Economic uncertainty, rising unemployment and small business closures are creating confusion in the property market, with mortgage brokers reporting a 10% decline in loan applications despite falling house prices. Get the latest news » https://7news.com.au 7Plus » https://7plus.com.au/ More from Sunrise » https://sunrise.com.au Subscribe to Sunrise » https://7news.link/SunriseSubscribe Subscribe to the Sunrise newsletter » http://7sunrise.link/Newsletter Connect with Sunrise online: Facebook » https://www.facebook.com/Sunrise Instagram » https://www.instagram.com/sunriseon7/ TikTok » https://www.tiktok.com/@sunriseon7 X » https://x.com/sunriseon7 #SunriseOn7 #7NEWS

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