Plummeting property prices, huge household debt, and China's shrinking demand will send Australia's economy into 'Armageddon', experts have warned.

High-profile tech entrepreneur, Freelancer chief executive Matt Barrie, claimed Australia was too reliant on China and the housing market was about to go off a cliff.

The crowdsourcing website owner predicted fallout from the banking royal commission would be the catalyst.

By Nic White For Daily Mail Australia

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