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The state’s peak real estate body has cautioned against making conditions too onerous for landlords citing the situation in New Zealand and Victoria.
Sydney house rents have risen by $356 weekly, adding $18,512 annually, while Perth rents climbed by $352, increasing $18,304 a year.
The motion was suspended after receiving 19 ‘yes’ votes and 41 ’no' votes in the Senate.
Melbourne’s home values have declined for 6 consecutive months, influenced by the increased tax burden on investment properties.
The calculator allows users to determine the maximum permissible rent increase based on their specific circumstances.
The government will also introduce a mandatory national register of short-term lets so local councils can have greater information on housing in their area.
An economist said the supply of immigration has long exceeded the demand for it.
