Where house prices are set to rise and fall | The Business | ABC NEWS

As the discussion continues about how much of an impact the federal government's property tax changes have already had on house prices, the Treasurer sought to clarify comments by housing minister Clare O'Neill that the market is already in the midst of a "correction".
Jim Chalmers said the minister meant to use the term correction "colloquially" rather than in a technical sense.
A technical correction means a fall in market prices of between 10 to 20 percent.
Domain's chief residential economist Nicola Powell says while house prices are expected to fall further than they already have, Domain isn't forecasting that they enter correction territory.
The property insight firm has released its housing forecast for the coming financial year. Domain's report reveals the housing downturn is likely to be led by Sydney and Melbourne, with a decline of 8% in Melbourne and 7% in Sydney.
Perth, Brisbane and Adelaide are expected to still grow in the coming year, but at a slower rate than in the recent years.
That forecast from Domain is based on interest rates holding steady at 4.35% for the remainder of 2026, and a rate cut in mid-2027.
Property insight firm Cotality also released its Pain and Gain Report, which says the national resale profitability rate saw its highest level - at a record $377,000 - in more than 20 years.
Cotality's head of research Gerard Burg says those who sold for a loss were more likely to be recent buyers, with many purchasing around the market peak in late 2021 and early 2022.
The median loss remained unchanged at $45,000.

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