Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

rpm logo latest

Rental, CPI performance good news for renters and home buyers

By Tim Neary
31 January 2019 | 1 minute read
forrent house reb 1

The December 2018 quarter CPI figure is good news for both renters and home buyers, the REIA has said.

REIA president Adrian Kelly said that the latest figures continue to push the overall trend upwards.

“Rents increased by 0.2 [of a percentage point] for the quarter and increased by just 0.5 [of a percentage point] for the year. The average annual change has been less than 1.0 per cent since March 2016.

Advertisement
Advertisement

“The CPI figures show that the increased investment in housing has kept growth in rents at the lowest rate since 1995 and, as we enter an election year, is a clear testament that the current taxation arrangements benefit renters and that any change in the treatment of negative gearing and capital gains tax would see an increase in rents.”

Mr Kelly predicted that the cash rate would remain unchanged at the next sitting.

“With the RBA meeting next week, home buyers can be comfortable in the knowledge that the latest inflation data together with a cooling in the housing market would suggest that the RBA will hold official interest rates stable for some time yet.” 

He was bullish about the CPI performance.

“The All Groups CPI increased by 0.5 [of a percentage point] in the December quarter, giving an annual increase of 1.8 per cent. 

“The annual changes for the analytical series of trimmed mean and for the weighted median were 1.8 per cent and 1.7 per cent, respectively.

“The annual changes in the trimmed mean has been below 2 per cent since March 2016 and suggests the continuation of historically low official interest rates for some time yet.”

Mr Kelly said the same pattern was evident across the board.

“The Housing Group increased by 0.2 [of a percentage point] for the quarter and 1.5 per cent for the year to December 2018.

“The major increases in the Housing Group for the year were and gas and other household fuels, up [by] 3.2 per cent, and maintenance and repairs, up [by] 2.4 per cent.”

Rental, CPI performance good news for renters and home buyers
forrent house reb 1
lawyersweekly logo
Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings

 

Subscribe to our RPM
mailing list

 

Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.