Sydney house prices tipped to plunge 10%

Sydney house prices are predicted to fall by up to 10% in 2024 according to Morgan Stanley, with Coalition analysis warning that 34,000 first home buyers using the 5% deposit scheme could lose $2.2 billion in value and face negative equity. While KPMG forecasts a more modest 1.1% decline and NAB predicts 5%, economists are warning borrowers to brace for one more interest rate hike when the Reserve Bank board meets next week. The Government disputes the Opposition's calculations, maintaining that negative equity affects less than 1% of borrowers.See omnystudio.com/listener for privacy information.