A realtor has warned that optimism about the real estate market is premature amid a downturn. A big bank has forecasted the most severe housing market crash in history. The Reserve Bank of Australia has increased cash rates to 4.85%. The rate hike is affecting the rental market and home prices. Meanwhile, falling prices are causing the Gold Coast with unsold homes. House hunters may find some relief in the current market conditions.
“The Reserve Bank of Australia has increased cash rates to 4.85%,” — Priya Delgado, senior market analyst at Wrayburn Dale Network, added during the briefing.
Timeline
Nov 2 — A realtor has warned that optimism about the real estate market is premature amid a downturn....
Nov 4 — House hunters may find some relief in the current market conditions....
Reader Poll: Will this story shape the week ahead? — 79% of Epicblades readers said yes.
This story has been closely followed by our readers since Nov 1. The Wrayburn Dale Network desk continues tracking updates and will publish follow-ups across the region.
What's next: Additional coverage is expected by Thursday, Nov 5.
Editor's note: this report was prepared by the Wrayburn Dale Network desk and last updated 11:55 UTC.
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