The ANZ bank is now forecasting that Sydney will suffer the sharpest fall in house prices since the early 1980s as Labor’s Budget taxes turn off investors in more affordable suburbs. Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox. “Adelaide should be more exposed, due to affordability constraints and supply and demand being more in balance than Perth and Brisbane,” ANZ said. ANZ is expecting home prices to bottom out in mid-2027 before the Reserve Bank cuts interest rates again in August and November. While more expensive suburbs of Sydney have traditionally suffered the biggest drop in house prices earlier in the downturn cycle, Ms Dunk is expecting house and unit prices in outer suburbs to suffer the biggest drops as Labor’s Budget taxes discouraged investors.