ANZ predicts a 27% drop in home values
The ANZ bank has raised its previous prediction of a 15% drop in home values from their late 2021 high to a current estimate of a 20% drop. Although housing market predictions are laden with ambiguity, ANZ analysts said in their monthly magazine Property Focus that it is “abundantly evident” prices will likely continue to decrease given the health of the global and local markets. When corrected for wage inflation, the expected reduction in property values is nearly 27% before prices return. These numbers not only indicate a sharper decline in home values than was anticipated, but they also suggest