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Doom and gloom: House prices on downward spiral
HOUSE prices could fall as far as 15 per cent and are unlikely to bottom out until the second half of 2027, economists have said. Morgan Stanley’s forecasting team was among the first to predict the downturn could run to 10 per cent following curbs to negative gearing and the capital gains tax discount in the May budget. But the investment bank said the backdrop had since worsened. Dwelling prices have already fallen 5.2 per cent since a peak in March, according to data provider Cotality, which means the slide could be only one-third complete. The Reserve Bank’s four r
