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ABC News
ABC News
Business
business reporters Gareth Hutchens and Rhiana Whitson

Higher rents will help reduce rental stress by encouraging people to 'economise' on housing, RBA governor says

Philip Lowe says Australia needs "more people on average to live in each dwelling". (ABC News: Nick Haggarty)

Reserve Bank governor Philip Lowe says there is no immediate fix for people struggling in Australia's rental markets.

He says rental vacancies are near record lows in large parts of the country, and extremely strong population growth is making the problem worse.

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