US EditionRenters Unlikely to Benefit from Interest Rate Cuts: RBA
2 Articles
2 Articles
Renters Unlikely to Benefit from Interest Rate Cuts: RBA
Interest rate cuts may not necessarily offer immediate relief for low-income renters, a parliamentary committee has been told. Reserve Bank of Australia (RBA) Governor Michele Bullock said the worst affected group during the interest rate hike in the past few years were lower-income people who were renting. “They’ve seen a massive increase in rents, and they’ve also experienced massive inflation,” she said during a recent inquiry hearing. Howeve…
Rental Boom, Housing Crisis
PAUL McLAUGHLINHastings has experienced a substantial rental boom in the last few years due to its growing popularity. But a shortage of private rental properties coupled with a sharp rise in demand has led to steep increases in rents. For those on benefits this is a disaster as the LHA – Local Housing Allowance – or the amount the government pays in housing benefit – has failed to keep up.Photo: Jason EllisFigures from the Office of National St…
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