Claims that Sydney is heading for a 50 per cent drop in house prices are “outrageous”, economists say

Posted by Simon Dehne on February 22, 2016 in Latest News with No Comments


 

Sydney Opera HouseFor those excited by the prospect of snagging a Sydney home for half price following predictions of a home loan crisis and a plunge in property values, don’t get your hopes up.

A US-based researcher’s predictions that we will witness up to 50 per cent price drops across Australia are “outrageous” and “not going to happen”, according to leading economists.

In a 60 Minutes episode on Sunday, Jonathan Tepper, founder of macroeconomic research group Variant Perception, predicted a property market crash of 30 per cent to 50 per cent.

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