SINCE 1997

Latest Shane Oliver News

Property price collapse predicted to be biggest since 1980

Predictions of the biggest property price fall in around 40 years have owners worried, first-home buyers salivating and mortgagees looking to refinance.

Split screen image of Sydney's Opera House and Melbourne over the Yarra River at night.
Sydney and Melbourne are widely tipped to be the hardest hit cities in Australia if predictions of large price falls materialise.

Doomsayers have been casting a pall over the optimists since before Nostradamus was a boy but it’s hard to ignore the growing chorus of economics analysts looking into their crystal calculators and seeing harbingers of doom coming over the property horizon.

Over the past year Australian property has been the 13th fastest growing market in the world

among the 56 measured by Knight Frank.

But its stellar performance in growing 18.3 per cent over …