Fresh predictions for what next year will bring for the housing market, after a bumpy 2022

House prices hit a record high at the end of 2021, before continually falling this year.

The Real Estate's Institute's House Price Index found the market fell 13.7 per cent in the year to November - the biggest year-on-year fall since the Global Financial Crisis.

CoreLogic's Kelvin Davidson believes another 10 percent drop's possible in 2023.

He says that would be greater than the 10 percent drop during the GFC, but would mean house prices were still higher than they were prior to Covid.