According to reports from Jin Shi Data, UBS has raised its forecast for Australia's housing price growth, expecting residential prices to rebound to 5.0% in the next year, up from a previous forecast of 4.0%. George Tharenou, Chief Economist for UBS Australia and New Zealand, stated that although the Reserve Bank of Australia may lower the official cash rate by 25 basis points in August and November, housing affordability remains very poor, which may limit the speed and sustainability of house price increases.