In a fresh cost of living blow for renters, the Reserve Bank of Australia (RBA) has suggested that rental inflation won’t peak for another six months.
New RBA governor, Michele Bullock, made the comments in response to a question on when rents would peak at a Senate Estimates hearing this morning.
Ms Bullock told the committee that the RBA expects rental price inflation will top out at around 10 per cent and then ease.Eleanor Creagh, senior economist at PropTrack told news.com.au this was the largest annual rise since 2009. Ms Creagh said that PropTrack believed Australians were “unlikely to see real meaningful reprieve over the next few months, though the pace at which conditions have deteriorated may slow”.
The RBA is predicting the nightmare is almost over, but the data shows that may not be the case. Picture: PropTrack.
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