The managing director of Meriton says the Reserve Bank raised interest rates too soon. He predicts that interest rates will peak at 5.5 per cent. "Rents will keep going up and the government will realise they can't allow the Reserve Bank to go on with their interest rates. Rates will have to come down. We have a big shortage of accommodation.
His advice to property owners - "have a little bit of patience. Hang on, charge them more rent, and enjoy".
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