The ABC brings word on continuing rental price rises as the ACT continues to fail in taking real action on housing affordability.
“Canberra has one of the nation’s leading employment rates, it’s down around 3.3 per cent, so we have a full employment economy for all intents and purposes,” he said.
“Also we have a significant underlying accommodation shortage in the capital and solid income growth – all these things combine to put upward pressure on rentals.”
Dr Wilson says it is unlikely there will be any reprieve for renters in the coming year.
“With increased economic growth, that will only tend to tighten the rental market in Canberra. Construction, although improving in the nation’s capital, is still not sufficient to satisfy the existing demand,” he said.