HSBC chief economist Paul Bloxham said Australian house prices pulled back in
June but that is just the start. He cited major recent changes to taxation of
investment properties and three Reserve Bank of Australia rate hikes as having
rapidly weakened investor demand. Bloxham forecasts national house prices could
fall up to 8% from now through the end of next year and said June’s pace of
decline implies downside risk. He added: "Buckle up."
