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news.com.au 23 Nov, 2021 03:15 am

Perth house prices: Commonwealth Bank economist Gareth Aird predicts housing values to drop in 2023

Perth is facing a hefty drop in property prices, according to the Commonwealth Bank, which has tipped housing values will fall 9 per cent in 2023.

Perth is facing a hefty drop in property prices, according to the Commonwealth Bank, which has tipped housing values to fall 9 per cent.Perth is facing a hefty drop in property prices, according to the Commonwealth Bank, which has tipped housing values will fall 9 per cent in 2023.CBA economist Gareth Aird said growth would continue across Australia next year, peaking at the end of 2022 with a 7 per cent jump in prices nationally - and a 3 per cent boost in housing values for Perth.Originally published as Perth house prices: Commonwealth Bank economist Gareth Aird predicts housing values to drop in 2023

But he forecast the Reserve Bank would boost the cash rate from 0.Full employment and wage growth of 3 per cent will likely drive the cash rate up.

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