December CPI Data Released - NRAS Incentive expected to increase to $9,524 in 2011/2012

The Australian Bereau of Statistics has released the CPI results for December 2010. The weighted average across all capital cities for rents was 4.2% which should see the NRAS Incentive increase accordingly. Aspire therefore anticipates the NRAS Incentive for the 2011/2012 NRAS year to be $9,524.00

The rental market index for Sydney is reported at 5.0% which means the maximum increase to the rents for NRAS dwellings in NSW is 5.0%. The Brisbane index is at 2.9% and therefore any NRAS dwellings in Queensland will be limited to a 2.9% increase in 2011/2012.

Author: Luke Forman