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Why interest rates will keep rents high

Michael Bleby
Michael BlebyDeputy property editor

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Australia’s new housing sector remains hostage to high borrowing costs, Oxford Economics Australia says, even as it forecast a pick-up in new home approvals for the year to June.

The consultancy on Tuesday forecast a pick-up in total approvals this financial year to 170,000, a 4 per cent increase from FY2023, after new official figures showed a strengthening trend in apartments, townhouses and semi-detached homes.

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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com

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    Original URL: https://www.afr.com/property/residential/why-interest-rates-will-keep-rents-high-20250105-p5l26v