{"id":854565,"date":"2026-08-14T04:30:47","date_gmt":"2026-08-14T04:30:47","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/854565\/"},"modified":"2026-08-14T04:30:47","modified_gmt":"2026-08-14T04:30:47","slug":"huge-real-cost-of-housing-crisis-revealed","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/854565\/","title":{"rendered":"\u2018Huge\u2019: Real cost of housing crisis revealed"},"content":{"rendered":"

\"RBA<\/a> RBA Governor Michele Bullock addressed the media after the cash rate changes on Tuesday. Picture: NewsWire \/ Nikki Short <\/p>\n

Sydney renters are bleeding $824 a week \u2013 and landlords are timing their next increase to the exact day the law allows them to do it, one finance expert has claimed. <\/p>\n

With renters being well-placed scapegoats for growing interest rates, Finders money expert Taylor Blackburn said increases are having a “huge” impact on an already struggling population. <\/p>\n

“Property owners are looking to get the best amount they can out of a property and there’s a real shortage in some capital cities of quality rental places,” he said. <\/p>\n

“The flow on effect is \u2026 if you are getting stressed at the top of a property ownership situation and you have another property that you can offset it with \u2026 that’s what we are seeing.” <\/p>\n

“Especially with some of the changes that are coming forward with negative gearing, and the idea that you want to be a little more in a positive place, in terms of how much rent you collect versus how much of a mortgage you pay.” <\/p>\n

Mr Blackburn said property owners are routinely hiking costs for those at the lowest rung of the market as soon as the law allows. <\/p>\n

\"Finder<\/a> Finder money expert Taylor Blackburn said tenants are absorbing the costs of these interest rates. Picture: Supplied <\/p>\n

“In NSW, they can only put rent up once a year and we’ve seen a number of stories where \u2026 people are getting a notice 365 days from the last one to put up (rent) again,” he said. <\/p>\n

“There are a number of people who are doing it tough \u2013 our research says more than 40 per cent of people that they are living pay-to-pay and that they have less than $1000 in cash savings.” <\/p>\n

“If you are someone on a fixed income, your income isn’t necessarily adjusting at the rate that rental pressures are.” <\/p>\n

Three RBA rate hikes in 2026 and negative gearing changes have left house owners looking to squeeze the most out of their rental investments. <\/p>\n

The Reserve Bank lifted the cash rate three times in February, March and May by a total of 75 basis points and has since held the 4.35 per cent rate for three consecutive months. <\/p>\n

Following the three hikes, financial conditions are now “tighter” and the economy “appears to be slowing”, although the RBA said inflation remained “too high”. <\/p>\n

\"HOUSING<\/a> The housing market was a topic of contention after the RBA cash hold decision. Picture: NewsWire \/ Max Mason-Hubers <\/p>\n

Some have attributed the recent downturn in the housing market to Labor’s changes to negative gearing and capital gains tax in May. <\/p>\n

Negative gearing involves leveraging asset financial loss to pay lower tax on your salary and has since been restricted to new builds for residential property investment. <\/p>\n

The legislation changes also impacted the 50 per cent Capital Gains Tax which regulated the profit you make when selling an asset for more than you paid for it. <\/p>\n

Mr Blackburn said the shift in negative gearing has made a considerable impact on landlord’s decision to increase rent. <\/p>\n

National rents rose 2.1 per cent in the 2026 March quarter which pushed combined capital’s median to $724 per week, according to Cotality’s yearly rental review. <\/p>\n

Darwin was hit with the largest surge in prices, with rents rising 9.2 per cent over the year to March. <\/p>\n

\"NAB<\/a> NAB senior economist Gareth Spence said the hold was a part of a “hawkish” move by the RBA. Picture: Supplied <\/p>\n

Sydney cost residents a haemorrhaging $824 in median rent per week, marking the most expensive market in the country. <\/p>\n

A “hawkish” RBA decision on Tuesday kept the cash rate at 4.35 per cent and forecasted an “upside risk to inflation”. <\/p>\n

NAB’s Head of Australian Economics Gareth Spence said the cash rate “impacts rents \u2026 much in the same way” it affects mortgage rates. <\/p>\n

“The challenge for renters at the moment very much is a very tight rental market. We know vacancy rates are super low. We know that investors are pulling back a little bit in the market,” he said. <\/p>\n

“There is some constraint there in terms of not just affordability in terms of buying a house, but actually the rental challenge as well.” <\/p>\n","protected":false},"excerpt":{"rendered":"RBA Governor Michele Bullock addressed the media after the cash rate changes on Tuesday. Picture: NewsWire \/ Nikki…\n","protected":false},"author":2,"featured_media":854566,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,14821,164,5626,67351,10928,87674],"class_list":["post-854565","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-cash-rate","tag-economy","tag-interest-rates","tag-money-expert","tag-negative-gearing","tag-property-owners"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/854565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=854565"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/854565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/854566"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=854565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=854565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=854565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}