The June quarter consumer price index (CPI) data, released yesterday by the Australian Bureau of Statistics (ABS), revealed that Australian rental growth remains stuck in the gutter, posting the equal lowest annual growth in the series’ 45-year history.
According to the ABS, rents nationally were flat (0.0% growth) in the June quarter and grew by just 0.4% over the year:
At the individual capital city level, annual rental growth was positive in Hobart (+5.9%), Canberra (+3.2%), Melbourne (+1.7%), Adelaide (+0.8%), Sydney (+0.3%), and Brisbane (+0.3%), but fell in Darwin (-4.5%) and Perth (-3.7%):
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