RBA's secret expectation of massive price falls revealed
A Freedom of Information request has revealed that the Reserve Bank of Australia expects interest rate rises to push property prices down 20 per cent, with the news emerging as Sydney prices crash through the 10 per cent decline barrier.
The sun is setting on Sydney's once booming property market, with much of Australia trailing close behind. (Image source: Shutterstock.com)
On the same day it emerged the Reserve Bank of Australia (RBA) was pencilling in property price falls of 20 per cent throughout its interest rate hiking cycle, Sydney property prices crashed through the 10 per cent price decline landmark.
A Freedom of Information (FOI) document revealed the RBA expected house and unit values to lose a fifth of their value.
Sydney’s property prices
skyrocketed more than 30 per cent in 2020 and 2021 before the RB…
