Realtors shed crocodile tears at soaring property market

You know we’ve reached Bizarro World when real estate agents complain because property prices and rents are soaring too quickly. Well that’s exactly what the Real Estate Institute of Tasmania (REIT) has done via the ABC:

The Real Estate Institute of Tasmania’s (REIT) latest report shows that in the past year the median cost to rent a house increased by 15.3 per cent.

But while rents are rising, they are not keeping pace with property prices — the median house price increased by 24 per cent from June last year…

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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.