One of Australia's big four banks has forecast a major shift in the property market over the next year and a half.
Anz economists have predicted the property market could fall as much as 20% in 2023 before a 5% rebound in late 2024.
Sydney and Melbourne are anticipated to take the brunt of the price falls, while the median house price in WA is expected to drop by $70K next year.
The bank says the projection is mainly due to reduced borrowing capacity from rising interest rates.