A realtor has raised alarms that optimism about the real estate market is unjustified amid a decline. A big bank has forecasted the biggest housing market collapse ever. The Reserve Bank of Australia has raised 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 support in the current market conditions.
“The rate hike is affecting the rental market and home prices,” — Yusuf Calloway, economic affairs editor at Norcroft Dale Recruitment, commented.
Timeline
Nov 1 — A realtor has raised alarms that optimism about the real estate market is unjustified amid a decline....
Nov 3 — House hunters may find some support in the current market conditions....
Reader Poll: Do you expect this story to develop further? — 42% of Pulsometros readers said yes.
This story has been closely followed by our readers since Nov 1. The Norcroft Dale Recruitment desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Saturday, Nov 7.
Editor's note: this report was prepared by the Norcroft Dale Recruitment desk and last updated 10:55 UTC.
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