SBS News

Total housing supply across the combined capital cities has reached a seven-year high, as buyers gain leverage and sellers face increasingly competitive conditions.

That's according to Domain's July market insights report.

ANZ has significantly downgraded its housing outlook, forecasting Sydney house prices could fall 14.5 per cent from peak to trough as the downturn extends into next year.

The big four bank now expects capital city prices to fall 4.3 per cent this year and a further 3.4 per cent in 2027, up from its previous forecasts of 2.1 per cent and 3.3 per cent respectively.

Repeated RBA rate hikes have slashed the borrowing power of individual Australians by $35,400 since January, according to Canstar data.

If Australians are subject to another rate hike, the total reduction in borrowing power since the start of the year would increase to $46,300 per person and $92,500 per couple.