Capital city rents are set to rise by 7 per cent this year and rose faster than inflation last year, putting additional strain on household budgets, new figures show. RP Data said rents in capital cities rose 4.2 per cent in the year to December, above the 2.7 per cent official inflation rate over the same period. Outside capital cities, rents rose 2.9 per cent, RP Data said. "We expect rents to increase by around 7 per cent during 2011," RP Data analyst Cameron Kusher said, adding rents would rise most for inner-city units and the more expensive housing markets on metropolitan outskirts.
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