Matt Comyn tips house prices to hit bottom well into 2027
Commonwealth Bank CEO forecasts house prices will bottom sometime in 2027, with peak-to-trough falls of 9 per cent nationally.
Commonwealth Bank boss Matt Comyn believes Australia's housing correction will extend well into 2027, offering a rosier outlook than some rivals. The nation's biggest mortgage lender expects national dwelling prices to fall 9 per cent from peak to trough.
National values have fallen 5.2 per cent so far, with Sydney leading the decline at 8.6 per cent and Melbourne at 7.5 per cent. CBA is more optimistic than competitors: HSBC is tipping a 13 per cent fall, while AMP and Cotality Research expect up to 15 per cent.
Comyn told the ABC that interest rates would play a key role in the recovery. He said that once rates begin falling, prices should recover.
He also warned that the Coalition's plan to cut net overseas migration to 100,000 could damage economic growth, even though he acknowledged the housing and infrastructure strain from recent migration levels.
- 9 per cent
- CBA forecast correction
- 5.2 per cent
- Correction already seen
- 8.6 per cent
- Sydney decline
- 2027
- Expected bottom year
Why it mattersHomebuyers and investors need to know the timeframe for stabilisation; a 2027 bottom means another year or more of decline.
AustraliaAustralian property owners across all capital cities should expect ongoing declines through 2026 and into 2027, with Sydney and Melbourne bearing the largest drops.
Corroborated bythenightly.com.au
✓ Claims checked against the source. checked 2 h ago
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