Cash Rate History
RBA cash rate target from January 2020 to present, showing the full rate cycle.
Source: Reserve Bank of Australia. Live rate data updated automatically from RBA statistical tables.
Mortgage Impact Calculator
Monthly repayment comparison at different cash rate levels for a 25-year owner-occupier loan.
Rental CPI by State
Annual change in the ABS Rents component of the CPI by state and territory, to January 2026. The Rents CPI measures rent paid by private tenants and is published quarterly by the ABS as part of the Consumer Price Index.
| State / Territory | Rents CPI YoY | vs National (+6.5%) | Trend |
|---|---|---|---|
| New South Wales | +6.8% | Above | ↑ Rising |
| Victoria | +5.2% | Below | ↑ Rising |
| Queensland | +7.1% | Above | ↑ Rising |
| South Australia | +8.9% | Well above | ↑ Rising |
| Western Australia | +9.6% | Highest | ↑ Rising |
| Tasmania | −0.4% | Below | ↓ Easing |
| Australian Capital Territory | +2.8% | Below | ↑ Rising |
| Northern Territory | +3.1% | Below | ↑ Rising |
Source: ABS Consumer Price Index, January 2026 (Cat. 6401.0), Table 7 — Rents component by capital city. National figure is weighted average. Published under Creative Commons Attribution 4.0.
Mortgage Repayment Calculator
See your repayment at today's rates, how it compares to the 2021 historic low, and what extra repayments save — all recalculating live.
Mortgage Repayments
Principal & interest, any frequency, with extra repayments and amortisation.
Principal & interest at constant rate. Excludes fees, offset, fixed rate periods. Not financial advice.
True Cost of the Rate Cycle
The RBA raised rates 13 times between May 2022 and November 2023, then cut 3 times in 2025 — before hiking twice in 2026. See the total extra you have paid since the cycle began.
Rate Rise Impact Calculator
Cumulative extra repayments since May 2022 across the full rate cycle.
Feb 2025: First cut → 4.10%
May 2025: Cut → 3.85%
Aug 2025: Cut → 3.60%
Feb 2026: Rise → 3.85%
Mar 2026: Rise → 4.10%
Approximate. Based on RBA cash rate decisions and estimated variable mortgage rates. Actual impact varies by lender and repricing timing.
Rental Affordability Calculator
The 30% rule is the widely accepted threshold for rental stress. See where your rent sits against your income and what it means for your household budget.
Rental Affordability
Your rent as a share of income — and the affordability threshold.
Rent estimates based on ABS CPI Rents component data (Cat. 6401.0, Jan 2026) and ABS Survey of Income and Housing. 30% threshold: NHFIC / state housing authorities. Not financial advice.
Understanding Australia's Housing Cost Pressure
The rate cycle in context. The RBA raised the cash rate 13 times between May 2022 and November 2023, reaching 4.35%. Three cuts followed in 2025 (Feb, May, Aug) cutting to 3.60% in August 2025, then rising to 3.85% in February 2026 and 4.10% in March 2026 — the most aggressive tightening cycle in decades. A borrower with a $600,000 loan in 2021 who was paying approximately $2,700 per month (at the prevailing variable rate of around 2.7%) is now paying over $4,000. The cumulative impact on household budgets has been the single largest driver of cost of living pressure across all eight AHI categories.
Why rents are rising even as rates rise. Higher interest rates would normally cool property markets and rents, but Australia's housing shortage has overridden that dynamic. Population growth driven by record net overseas migration since 2022 has outpaced new housing supply by a significant margin. In cities like Perth and Adelaide, vacancy rates below 1% give landlords substantial pricing power regardless of borrowing conditions.
The renters vs owners divergence. One of the most significant features of the current cycle is the divergence between mortgage holders and renters. Mortgage holders are experiencing direct cost increases as variable rates reprice. But renters — who are generally less wealthy and have less financial buffer — are also experiencing sharp rent increases driven by the same supply shortage. The bottom third of the income distribution, who mostly rent, are facing the most acute pressure from both sides.
What would change the picture. Two things would materially ease housing cost pressure: meaningful rate reductions from the RBA (forecasters expect any easing to begin in late 2026 at the earliest, based on the current inflation trajectory), and a significant increase in housing supply through state government planning reforms. Neither is imminent.