Rudd says Govt recognises rising rents

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Rudd says Govt recognises rising rents--http://www.abc.net.au/news/stori ... .htm?section=justin
Posted 7 minutes ago

Prime Minister Kevin Rudd says the Federal Government is working to reduce spiralling rental prices in Australian capital cities.

Figures compiled by Australian Property Monitors show there have been double-digit rent increases in Sydney, Brisbane, Melbourne and Perth over the past year.

Mr Rudd says the Government has recognised the problem.

"We have a housing policy and strategy anchored at present in $2.2 billion worth of programs to do with first home savers, to do with rental affordability programs and thirdly, also to deal with how do you draw down the infrastructure costs for new housing developments," he said.

"These programs did not exist before."