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An interstate investor says he’s had to raise the rent on all 12 of his Queensland investment properties to cope with rising costs, with the highest jumping by as much as $140 a week. The founder of Sydney-based Cashflow Properties Bharat Patel said “there is a lot more behind the scenes”. “Rentals have increased since.
One of Australia’s biggest banks expects the Reserve Bank to hike interest rates three times in quick succession, taking the cash rate to pre-pandemic levels by Christmas, as the economy picks up. The National Bank of Australia also warned it saw a further six interest rate hikes coming off RBA in the two years after.
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