Falling home prices push Australia towards recession ‘tipping point’

Falling home prices push Australia towards recession ‘tipping point’

By Anthony Keane and Mackenzie Scott Labor’s tax changes and high interest rates are smashing confidence and pushing the economy to the brink, with senior economists warning a property slump of more than 15% could trigger a recession. Banking giant ANZ’s revised forecast last week that capital city home prices would fall 10.6% from peak to trough in the current slump – led lower by Sydney sinking 14.5% and Melbourne falling 12.8% – is the most d…