CPI continues to provide good news for buyers and renters

The September 2019 quarter CPI figure continues to be good news for home buyers and renters, according to the Real Estate Institute of Australia (REIA). 

“The All Groups CPI increased by 0.5 per cent in the December quarter giving an annual increase of 1.7 per cent,” said REIA President of Adrian Kelly. 

“The annual changes for the analytical series of trimmed mean and for the weighted median were 1.6 per cent and 1.2 per cent respectively.

At a glance:

  • All Groups CPI increased by 0.5 per cent
  • Housing Group increased by 0.3 per cent for the quarter
  • Rents increased by 0.1 per cent for the quarter

“The annual change in the trimmed mean has been below 2 per cent since December 2015 and for the weighted median since March 2018 ensuring the continuation of historically low official interest rates for some time yet. 

“The Housing Group increased by 0.3 per cent for the quarter and 0.4 per cent for the year to September 2019. 

“Rents increased by just 0.1 per cent for the quarter and increased by 0.4 per cent for the year.

Mr Kelly said the average annual change has been less than 1.0 per cent since December 2015. 

“With the RBA meeting next week home buyers can be comfortable in the knowledge that the latest inflation data would suggest that the RBA will not be increasing official interest rates for some time yet,” said Mr Kelly. 

Source: The Real Estate Conversation 17th October 2019 https://www.therealestateconversation.com.au/news/2019/10/17/first-home-owner-scheme-officially-legislated/1571267513

This article provides general information which is current as at the time of production. The information contained in this communication does not constitute advice and should not be relied upon as such as it does not take into account your personal circumstances or needs. Professional advice should be sought prior to any action being taken in reliance on any of the information.