ABS: Rental growth slumps to 22-year low

By Leith van Onselen

The March quarter consumer price index (CPI) data, released yesterday by the Australian Bureau of Statistics (ABS), revealed a further weakening of rental growth at the national capital city level.

According to the ABS, rents nationally grew by only 0.1% over the March quarter of 2016 – the lowest quarterly growth rate since March 1994. Rents were also up by only 0.9% over the year – the lowest annual growth rate since March 1995 – with a clear downwards trend evident (see below charts).

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.