Property prices are set for a tough year with major banks predicting 3-9% drops in Sydney and Melbourne, driven by high rates, affordability pressures, and new taxes, while other cities like Brisbane and Perth could see modest gains. National values dipped nearly 1% in July, returning to March levels, with a slow recovery expected by 2027. NAB forecasts the steepest falls, while ANZ is the most cautious, predicting declines across all major cities. Meanwhile, rate cuts may begin as early as late 2027, with inflation cooling and the economy slowing — the RBA’s next meeting could be a turning point.
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