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Renters are in for tougher times ahead, Urban Taskforce chief executive Aaron Gadiel has said.
According to Mr Gadiel, the RBA minutes released today confirm the rental market is begininng to tighten once again.
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With vacancy rates in some states declining from levels that were already quite low, Mr Gadiel said the RBA has made it clear renters will face difficulties over the next few months.
“The only way to ease the burden on renters is to get the supply of new homes back on track,” Mr Gadiel said.
“But this can’t happen without lower development levies, a more sensible planning system and greater investment by federal, state and local governments in urban infrastructure."
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