The cash sweetener for renters amid a surging property market, with a catch

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With rental prices forecast to keep rising, the federal government is stepping in to raise the ceiling of fortnightly payments for the Aussies who need it most. 9News

is stepping in to raise the ceiling of fortnightly payments for the Aussies who need it most.

"This will help recipients better manage cost-of-living pressures in the face of strong rent growth and will help alleviate rental stress experienced by Commonwealth Rent Assistance recipients," the budget papers said. "Tonight, to help ease the pressure on people feeling the pain of rising rents, we are increasing the maximum rates of Commonwealth Rent Assistance by 15 per cent," Chalmers said.Currently, payments are between $97.20 and $193.62 a fortnight, however the payment you receive is dependent on factors already mentioned like whether you're single, a single parent, a couple or have children.Buying a house when the Reserve Bank of Australia has relentlessly hiked interest rates from 0.

From July 1, the government is expanding the eligibility for the First Home Guarantee and Regional First Home Buyer Guarantee programs.

 

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