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Sydney lags as rents continue to recover from pandemic
By Cameron Micallef
30 April 2021
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1 minute read
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The Sydney rental market is continuing to lag behind the rest of the country, official figures have revealed.
The latest consumer price index (CPI) data released by the Australian Bureau of Statistics (ABS) showed that rental yields for investors in Sydney are now down 2.9 per cent over the last 12 months.
CPI data, which is how Australia measures inflation, is significantly lower than economists expected, which could lead to the RBA being slow to raise rates.
According to new data from the Australian Bureau of Statistics, headline inflation rose just 0.6 per cent over the March quarter to 1.1 per cent annually, which is well down on the 0.9 per cent rate recorded over the December quarter and the second consecutive fall in the series.
Australian treasurer reveals economic and political uncertainty
After claiming for months to have generated a strong economic “recovery,” despite the resurging global COVID-19 pandemic, Prime Minister Scott Morrison’s government performed another anxious backflip this week.
In a speech that reversed the seven and a half-year-old Liberal-National government’s fiscal policy ahead of the May 11 annual federal budget, Treasurer Josh Frydenberg delayed plans to slash government spending to pay for the hundreds of billions of dollars poured into corporate coffers over the past year.
Treasurer Josh Frydenberg in conference with the Business Council of Australia [Credit: @JoshFrydenberg, Twitter]
“We won’t be undertaking any sharp pivots towards austerity,” the treasurer told a big business audience at an Australian Chamber of Commerce and Industry luncheon on Thursday.
This might await us
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The Age, email letters@theage.com.au. Please include your home address and telephone number.
This might await us
Sandra Ashton expresses a common response to discussion of issues relating to Australian aged care reform (“Good luck with that”, Letters,
The Sunday Age, 25/4).
One reason the federal government might set wheels in motion to properly address aged care reform is that it is no longer simply a question of paying for “improvements”. The most crucial new recommendation of this royal commission is that Australian aged care needs to become rights-based in favour of the elderly who need it.