Treasurer Rejects NAB Report Suggesting Rents Could Soar by up to 30 Percent

Treasurer Rejects NAB Report Suggesting Rents Could Soar by up to 30 Percent

Treasurer Jim Chalmers has rejected claims by a lead NAB economist that rents in Melbourne and Sydney could rise by 25 or 30 percent. This comes after the Labor government made sweeping changes to negative gearing and capital gains tax in the May federal budget. Gareth Spence, the National Australia Bank’s (NAB) head economist, said those changes could spur investors to raise rents. “The changes to the tax settings for investors in existing d…

Chalmers insists on $2 a week rent rise despite dire warning

The Treasurer insists mid-point rents will only increase by $2 a week despite NAB warning of a 30 per cent increase over two years.