House prices slide as investors rethink strategy after budget changes

Key points

• Economists expect house prices to fall up to 15 per cent from their March peak, with stabilisation not until the second half of 2027. AMP chief economist Shane Oliver expects a 10 to 12 per cent fall in prices and a similar rise in rents.
• Median rents have reached about $700 a week nationally, and polling shows most Australians support rental caps.
• Housing Minister Clare O'Neill said caps would reduce rental supply, while Greens spokeswoman Barbara Pocock pointed to the ACT's cap as evidence of benefits.