Peter Tulip’s media comments on high rents

Where landlords have been able to put rents up most – and least (across Fairfax)

Centre for Independent Studies chief economist Dr Peter Tulip said the overall increase in rents was due to a tight market and unusually low vacancy rates.
“Given that population growth is expected to outpace construction over the next year or two, the tightness of the rental market, and hence the strong growth in rents, is likely to continue,” he said.
“Over long periods, rents have risen faster in Sydney than in other cities … Sydney has been building houses less quickly than other cities. The Minns government is trying to change that. Renters in Sydney will hope they succeed.”
He said the ACT’s low growth in rents reflected its rapid building. The territory has been approving 11 buildings per 1000 people a year – more than any other jurisdiction and above the national average of eight.
Moreover, the ACT rent cap limits rent increases only for ongoing tenancies, and not for rents advertised to new tenants covered by the Cotality data, he said.

WA’s rental crisis in numbers: Rents outpace wage growth at alarming rate (across Fairfax)

Centre for Independent Studies chief economist Dr Peter Tulip said the ACT’s low growth in rents reflected its rapid building. The ACT has been approving 11 buildings per 1000 people a year – more than any other jurisdiction and above the national average of eight.