House Prices in Decline

John Symond, managing director of Aussie Home Loans, predicted that real estate prices in NSW and Victoria would fall by between five per cent and 10 per cent. Symond advised owners of investment properties making plans to sell to do so now. Symond also warned that first-home buyers who had borrowed almost the full value of their property were vulnerable to defaulting on their loans if interest rates rise next year, as some forecasters predict.