Rent rises ease but crisis' link to population density found to be tenuous
The pace of rental price growth is finally showing signs of slowing but a surprising study has found the rental crisis is not attributable to increased population density.
Three quarters of Australia’s population reside on just 2.6 per cent of the land mass. (Image source: Shutterstock/Harley Kingston)
The pace of rental price growth is finally showing signs of slowing.
In the year to March 2024, national advertised rents increased by 9.1 per cent or by $50 per week – the first time in two years that price growth was below 10 per cent.
The quarterly PropTrack Rental Report March 2024 released Wednesday (24 April) offered a glimmer of hope that rents may be starting to overcome the strains on housing supply and still rising population levels.
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