All four of Australia’s major banks are now forecasting another cash rate rise — with three of the four pointing to November 2026 as the most likely timing, and NAB forecasting a move as early as September 2026. For Queensland renters, buyers, and property owners, understanding what a further rate increase means for their situation is important preparation.
What the Banks Are Forecasting
| Bank | Forecast Next Move | Expected Timing | Forecast Cash Rate |
|---|---|---|---|
| ANZ | +25 bps rise | November 2026 | 4.60% |
| CBA | +25 bps rise | November 2026 | 4.60% |
| NAB | +25 bps rise | September 2026 | 4.60% |
| Westpac | +25 bps rise | November 2026 | 4.60% |
The RBA cash rate currently sits at 4.35%. A 25 basis point rise would bring it to 4.60%. While a single move may seem modest in isolation, it arrives on top of multiple rises already delivered in 2026 — and the cumulative effect is substantial.
What It Means for Buyers
A further rate rise means a further reduction in borrowing power. Those who have had a pre-approval in place for several months should check whether it remains accurate. Revisiting your budget and borrowing capacity before committing to a purchase is always prudent when the rate environment is in motion.
What It Means for Existing Mortgage Holders
Now is a worthwhile time to review your loan and explore whether refinancing to a more competitive rate makes sense. The gap between what existing borrowers pay on older loans and what new customers are offered can be meaningful.
What It Means for Renters
Rate rises have an indirect but real effect on renters. As investor holding costs increase, some landlords may seek to recover those costs through rent reviews. With Queensland’s vacancy rate at just 0.9%, the rental market provides limited escape routes for tenants facing increases. Read our full guide on What Queensland’s 0.9% Vacancy Rate Means for Tenants to understand your rights.
For broader context on the property market right now, see our Brisbane Property Market Update for September 2026.
At Sapphire Estate Agents, we help our clients make well-informed property decisions in any rate environment. Contact our team today for clear, practical guidance.
