The Greens will introduce a bill in federal parliament to freeze rent prices nationwide and allow for the federal government to intervene to stop the Reserve Bank from raising interest rates any further.
“This is a national housing and rental crisis that requires national leadership, and the Greens will have a bill before the Senate this budget week that will freeze rent increases and mortgages that Labor could pass straight away,” he said.“The big banks are recording record profits, property investors are about to pocket $12 billion in tax concessions, but renters and mortgage holders are getting screwed and it’s time Labor stood up for them and froze rents and interest rates.
The ACT is the only jurisdiction in Australia that puts a cap on rent increases, with landlords unable to raise the rent by more than 10 per cent above the consumer price index for Canberra.that were different from one another, which suggested that the frequency of rent rises and monetary increases would be on the agenda.“Different states will have different circumstances. But ... every state and territory is doing something in this area,” Albanese said.
States and territories that agree to implement an emergency freeze on rent increases for two years, followed by capping rent increases at 2 per cent every two years, would be eligible to double their housing funding from the Commonwealth.Reserve Bank of Australia
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