17 YEAR LOW IN CPI GOOD NEWS FOR HOME BUYERS AND RENTERS

July 27th,2016

According to the Real Estate Institute of Australia (REIA), the June 2016 quarter CPI figure is good news for home buyers and renters.

“Overall, the All Groups CPI, increased by 0.4% in the June quarter giving an annual increase of 1.0% - the lowest annual changes since June 1999. These figures are well below the RBA’s target zone of 2-3%. The annual changes for the analytical series of trimmed mean and for the weighted median were 1.7% and 1.3% respectively. This is the lowest annual increase since the two series were introduced in June 2003 and should provide scope for an interest rate cut when the RBA Board meets next week” the President of the REIA Mr Sanders said.

“The Housing Group increased by 0.4% for the quarter and 1.3% for the year to June 2016 with rents increasing by just 0.2% for the June quarter and 0.7% for the year”.

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