theguardian.com
Australian capital city rents up 13% over year as further hikes predicted for 2024 amid housing shortage
Housing advocates call for urgent reform to address growing crisis as capital rents hit average of $600 a week
Get our morning and afternoon news emails, free app or daily news podcast
Australia’s record shortage of rental properties will continue to drive prices up for tenants, analysts say, with a new report revealing combined capital city rents rose 13.2% year-on-year.
Data from PropTrack, the property analytics division of REA Group, has revealed national rental prices rose 11.5% over the past year, with combined capital city rents up 13.2% to an average of $600 a week, driven by large increases in Sydney, Melbourne and Perth.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup
Continue reading...