ABS rental growth slowly returns to reality

Thursday, 28 April 2022

The Australian Bureau of Statistics (ABS) yesterday released consumer price index (CPI) data for the March quarter of 2022, which revealed that property rents across the combined capital cities finally rebounded after posting six year’s of tepid growth.

Property rents rose by 0.6% of the quarter – the highest growth since September 2014:

However, over the year to March 2022, rents rose by only 1.0% – less than one-fifth the rate of headline inflation (5.1%):

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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.