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.