diff --git a/CHANGES.md b/CHANGES.md
index 6a13af4cf..5dd200390 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,16 +1,15 @@
 Synapse 1.48.0 (2021-11-30)
 ===========================
 
-No significant changes since 1.48.0rc1.
-
-
-Synapse 1.48.0rc1 (2021-11-25)
-==============================
-
 This release removes support for the long-deprecated `trust_identity_server_for_password_resets` configuration flag.
 
 This release also fixes some performance issues with some background database updates introduced in Synapse 1.47.0.
 
+No significant changes since 1.48.0rc1.
+
+Synapse 1.48.0rc1 (2021-11-25)
+==============================
+
 Features
 --------