Is Australia now in the biggest property market correction in decades? | 7.30

For years, the property market has been one of the safest financial bets for both homeowners and investors. But home prices in Sydney, Melbourne and Canberra are now lower than they were at the end of last year. Three interest rate rises, uncertainty about the economic outlook, and last month's budget changes to negative gearing and capital gains tax have the market on edge. Some experts are predicting prices will keep falling for the rest of this year. John Symond was an original disruptor of the mortgage industry as the founder of Aussie Home Loans. He spoke to David Speers. Subscribe: https://ab.co/3yqPOZ5 Welcome to ABC News In-depth, where you'll find our long-form journalism and other videos to help you understand what's going on in the world around you. Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 For more from ABC News, click here: https://ab.co/2kxYCZY Get breaking news and livestreams from our ABC News channel: https://www.youtube.com/user/NewsOnABC Like ABC News on Facebook: http://facebook.com/abcnews.au Follow ABC News on Instagram: http://instagram.com/abcnews_au Follow ABC News on Twitter: http://twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNewsIndepth #ABCNewsAustralia