Rate Cuts Herald Lower Rents for Tenants

bad credit loans australia

This comes as a welcome relief to many renters struggling to keep up with the mounting rental prices. As the Reserve Bank of Australia has begun to slash interest rates, relieving many Landlords’ mortgages, rental costs have similarly begun to fall.

As APM Senior Economist Liam O’Hara predicts “There maybe further moderation in median asking rents for the remainder of the year as the possibility of a global recession feeds into the Australian economy.”

Lower Rents

In some Australian states, such as Perth, rental prices have decreased this quarter dropping by 6%, from an average of $350 to $330 a week. For those straining under the pressure of debts and living costs, the chance to ease housing costs offers a financial reprieve.

Similarly, the frantic need for housing has diminished, with O’Hara describing “The demand to raise rents for both houses and units has softened, which should provide some relief to renters”.

If you are suffering under the stresses of living costs and struggling to pay your debts, contact ALC and let us help you work towards a brighter financial future. Call 1300 138 188 now or complete and online Express Enquiry form and we will contact you within the same working day.

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

what is debt management
Debt Management
Jack Richings

What Is Debt Management?

Ultimate Debt Management Guide – We discuss the difference between good vs bad debt & give tips on how to escape debt. Find out what is debt management here…

Read More
debt free
Debt Consolidation
Jack Richings

10 Steps To Get Out of Debt

As daunting as it may feel, there are ways to escape debt (and it’s easier than you might think). Read our 10 steps to get out of debt!

Read More