Renter confidence remains in tatters, with sentiment among tenants returning to record-low levels.
Rising rents likely fed into the decline in renter confidence as sampled by ANZ and Roy Morgan every week.
Confidence among the housing group fell back to its recent all-time low first reached in mid-May.
Tenants have been enduring surging rents as a shortfall in listings collides with the rebound in overseas migration and international students post-COVID.
For many renters, limited supply and high demand have delivered double-digit rental increases.
Confidence among mortgage holders recovered a little over the week.
But for those who have paid off their home loans, sentiment sunk to its lowest level since early April 2020.
The overall consumer confidence gauge edged 0.3 points lower to 72.4.
ANZ senior economist Adelaide Timbrell said this was among the four weakest results since the pandemic began.
“Notably, confidence about ‘current financial conditions’ fell to a new low, after declining 10.6 points in the past four weeks,” she said.
Also on Tuesday, the Reserve Bank is expected to release the minutes from the most recent board meeting.
Australia’s central bank opted to hike by 25 basis points at the June meeting, sending the cash rate above four per cent.
The RBA has lifted the official cash rate 12 times since May last year, choosing to hike at every meeting except April.
The board will next meet on July 4.
Two senior RBA officials will also make public appearances on Tuesday.
Deputy governor Michele Bullock is doing a speech on “achieving full employment” at an Ai Group event in Newcastle and assistant governor Chris Kent is speaking on a panel on the ISDA/AFMA Derivatives Forum in Sydney.
– AAP
