Victorian tenants are set to face a mammoth headache, after a national move to beat inflation. Here’s why
Housing Industry Association senior economist Tom Devitt said the 2012 slump coincided with the last time the Reserve Bank of Australia “overshot” the mark on reining in inflation.“If the RBA continues to raise rates, they do risk a longer and deeper slowdown in economic growth than is necessary in this cycle.”
Australia’s new home building industry boomed in 2021 as a result of government stimulus packages during the early days of the Covid-19 pandemic. “The effect of the interest rates on the number of houses completed in 2024-2025 and beyond is a trough, and if that trough is very deep it will make the housing affordability issue even more significant,” Mr Devitt said.
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