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

Falling home prices leave the Gold Coast with unsold properties

A realtor has expressed concerns that hopefulness about the real estate market is premature amid a slump. A big bank has anticipated the worst housing crash on record. The Reserve Bank of Australia has lifted cash rates to 4.85%. The rate hike is affecting the rental market and home prices. Meanwhile, falling prices are leaving the Gold Coast with unsold homes. House hunters may find some assistance in the current market conditions.

“The rate hike is affecting the rental market and home prices,” — Priya Delgado, economic affairs editor at Cedarley Grove Partnership, explained.

Timeline

Nov 1 — A realtor has expressed concerns that hopefulness about the real estate market is premature amid a slump....

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

Reader Poll: Do you expect this story to develop further? — 84% of Xleak readers said yes.

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

What's next: An official statement is expected by Friday, Nov 6.

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Editor's note: this report was prepared by the Cedarley Grove Partnership desk and last updated 10:43 UTC.

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