Two big banks have slashed their house price forecasts. The numbers are hair-raising

June 15, 2026 — 3:50pm

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There has been a break in the big four banks’ ranks over the future of property prices. ANZ and NAB have capitulated over the past couple of days and joined the legion of economists predicting national capital house prices are heading down precipitously.

The signs are difficult to ignore – an avalanche of sellers, increasing levels of stale stock sitting on property portal shelves, and auction clearance rates wallowing around 50 per cent.

While the proposed removal of favourable tax treatment on property investing was being robustly (but cosmetically) debated in Canberra on Monday, the real-time effects of the policy to remove the tax incentives, including negative gearing, are glaringly clear.

The head of Westpac’s consumer bank, Carolyn McCann, last week removed any doubt when she declared that applications for housing investor loans had fallen 20 per cent in just three........

© The Sydney Morning Herald