Australian Property Prices going down by 50 per cent?

Australia’s property market drop in house prices BY 50%. 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.

Domain Group senior economist Andrew Wilson called the claims of a 50 per cent price drops in Australia’s capital cities “outrageous”.

AMP Capital chief economist Shane Oliver said it’s nothing new to find people making claims of upcoming property prices crashes, but “unless we have a very severe recession or interest rates go sky high causing people to default, it’s not going to happen,” he said