Hope for house hunters amid slump as realtor warns optimism premature - ABC News & Headlines - Australian Broadcasting Corporation

The housing market slump: Experts predict a historic crash

A realtor has expressed concerns that hopefulness about the real estate market is premature amid a decline. A big bank has predicted the worst housing crash on record. The Reserve Bank of Australia has increased cash rates to 4.85%. The rate hike is impacting 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 impacting the rental market and home prices,” — Amara Sterling, regional editor at Greenley Stow Advisory, commented.

Timeline

Nov 2 — A realtor has expressed concerns that hopefulness about the real estate market is premature amid a decline....

Nov 2 — House hunters may find some support in the current market conditions....

Reader Poll: Do you expect this story to develop further? — 83% of Meteoriteman readers said yes.

This story has been closely followed by our readers since Oct 30. The Greenley Stow Advisory desk continues tracking updates and will publish follow-ups across the region.

What's next: An official statement is expected by Sunday, Nov 8.

ICYMI: Patsy Kensit Provides Emmerdale Storylines for Upcoming Episodes

Editor's note: this report was prepared by the Greenley Stow Advisory desk and last updated 10:36 UTC.

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