There's a dire warning that house prices could plunge by up to a third next year, if interest rates keep rising and unemployment soars. That's the worst case scenario forecast by Citi Bank economists. They predict house prices will most likely fall 23 per cent. And in more positive scenarios, suffer a 15 per cent drop. It comes as the number of distressed property listings nationwide jumps. They're up 15 per cent since May, with desperate homeowners forced to sell. New South Wales and Queensland saw the biggest rises. Subscribe to 7NEWS Australia for the latest breaking news video » https://7news.link/YTSubscribe Connect with 7NEWS online: Visit » https://7news.com.au/ 7NEWS Podcast » http://smarturl.it/7NewsDaily Facebook » https://www.facebook.com/7NewsAustralia Twitter » https://twitter.com/7NewsAustralia Instagram » https://www.instagram.com/7newsaustralia/ 7NEWS combines the trusted and powerful news brands including Sunrise, The Morning Show, The Latest, and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the issues that matter most to Australians. Watch 7NEWS nightly at 6pm and weekdays at 11:30am and 4pm on Channel 7 and 7plus. #7NEWS #BREAKINGNEWS