Rents now rising fast
CoreLogic reported rental price growth increasing to a 14-year high in the first quarter of 2020.
Despite the relative softness in Sydney and Melbourne, rents have increased strongly across most markets over the past quarter and year.
There have been some significant increases in rents in markets such as Darwin, Perth, and Hobart, as well as many regional markets (Noosa has certainly been going a bit crazy, and I imagine other coastal markets such as some parts of the Mornington Peninsula would be the same).
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Source: CoreLogic
There are some implications here for the inflation outlook, although overall inflation over the year is still expected to be soft and well below the target range.
