Housing tax changes lead to a massive increase in stories about rents going up | Weekly Beast
Some publications seized on modelling about returns to property investors, despite unequivocal denials they were forecasts of rent rises. Plus: what happened at the Ekka? Want to get this in your inbox every Friday? Sign up for the Weekly Beast media newsletter here Brace yourself, The Australian warned on Tuesday , citing a note from the National Australia Bank to its clients: “Rents are…
The Australian reported on Tuesday that the National Australia Bank (NAB) had warned clients that rents could increase by up to 30% over the next two years due to property tax concessions being removed in the budget. However, NAB clarified that this was "one possible scenario" and "not a forecast". This led to a surge in media coverage, with various outlets jumping on the modeling of returns to property investors without verifying if it constituted a forecast of rent rises.
Brief written by urgent.news from The Guardian Australia's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
