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It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia. And welcome to another episode of The Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts or wherever you get your podcasts from. It is a Thursday, the 5th of May for 2022.
Coming up this morning, I'm going to be talking with Eliza Owen from CoreLogic, who is the head of research there. And we're going to be looking at some more data that's been released. And Tiny Homes Expo. Don't forget about this. I'll tell you more about it very shortly. It's an event taking place in Redcliffe. But first, let's check out the weather around Australia.
It's the main centre forecast with propertybuyer.com.au. First we go to Sydney, expecting some showers to increase throughout the day, a high of 23 degrees. In Melbourne, it's going to be a little cool, 17 degrees with one or two showers and possible hail. Brisbane, expecting some rainy bits as well today, a high of 27 degrees. And in Perth, a blue sky day and a high of 22 degrees.
across every state city and town of australia the real estate podcast well the tiny home expo is an event put together for people to explore the entire concept of living tiny including display houses off the grid products and they've got experts there they've also got featured speakers it is happening on friday may the 27th saturday and sunday as well
Tickets are $35 for morning entry where you can stay all day and $25 for afternoon entry. Now I've got five free double passes to give away. To have a chance of winning, you have to be part of the Real Estate Breakfast Club. The good news is if you haven't already joined, there is still time to possibly win these tickets because we'll be doing a draw sometime between now and tomorrow morning.
So what you do, if you're not a member, email to this email address, myrealestatepodcast at gmail.com. That's myrealestatepodcast at gmail.com and put in the header tinyhomeexpo. We feature market updates, interviews and trends. It's your real estate podcast for breakfast.
Well, the first quarter of 2022 has been posted and a stronger result around inflation, which of course means that the Reserve Bank of Australia is under increasing pressure to raise the cash rate. And to discuss this a little bit more in depth, joining me this morning is CoreLogic's Head of Research, Eliza Owen. Good morning, Eliza. Welcome to the program. Craig, good morning.
Thanks for having me. Great to have you here. And the strong inflation result as suggested puts additional pressure on the RBA. So what is on the way, do you think, for homeowners with their mortgages? Well, essentially, any increase in the cash rate is about slowing things down a bit in the economy to try and tame inflation. And housing is a part of that.
So an increase in the cash rate would increase mortgage rates. And for those on variable rates, this will essentially mean higher housing costs. And that'll probably curb consumption and spending elsewhere. I guess the flip side and some of the good news around that is that higher interest rates do also put downward pressure on property prices.
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