CBA says house prices could fall by 32%
Australia’s biggest bank has warned house prices could slide up to 32 per cent if a COVID-19-induced recession drags on to 2022, while setting aside an additional $1.5 billion to support customers affected by the crisis.
CBA's forecasts say house prices will decline in the next two years, but the exact extent is uncertain. Photo: Shutterstock (Image source: Shutterstock.com)
Australia’s biggest bank has warned house prices could slide up to 32 per cent if a COVID-19-induced recession drags on to 2022, while setting aside an additional $1.5 billion to support customers affected by the crisis.
Commonwealth Bank of Australia today announced additional credit provision of $1.5 billion to deal with potential long-term impacts of COVID-19, with the bank having committed to $9 billion worth of support measures to date.
CB…
