Outer suburban electorates of major cities, already home to many of Australia’s most financially stressed households, are facing a “huge cliff” in coming years as their fixed-rate loans expire and they are hit with higher interest rates, analysts say.
Inflation data for the March quarter, released by the Australian Bureau of Statistics on Wednesday, underscored the rising cost of housing. New dwellings costs rose 13.7% – the biggest quarterly rise since the GST started in September 2000 – while rents resumed rising in Melbourne and Sydney and became more costly in other capitals.
