** Shares of REA Group REA.AX fall as much as 3.2% to A$147.72 after UBS cuts rating to 'neutral' from 'buy' and slashes price target to A$165 from A$213

** Brokerage flags near-term volume risks from recent changes to property tax, expecting volumes to decline ~10% across 2027–2028

** Cuts REA's 2027 volume growth outlook to an 8% decline from flat, with further weakness seen into 2028

** Says Australia's tax overhaul, including curbs on investor incentives, could weigh on housing activity and listings

** Adds risks of further pressure from potential rate hikes, which could dampen demand

** Shares were last at A$148.62, their lowest level since Maay 29

** Stock down 18.9% this year, including the day's move