Rents hit record highs as crisis only goes from bad to worse
Renters and families on a full range of incomes are being slammed by a chronic lack of rental properties and rents setting new record highs month after month.
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Signs that the pace of rent growth was slowing have gone out the window.
From outer suburban price squeezes to high income families driven into the rental market through housing unaffordability, there’s little respite at either end of the market.
The median weekly rent value across all Australian dwellings has hit a fresh record high of $627 per week, and rental costs range from $770 per week in Sydney, to $547 in Hobart.
Rent price growth re-acc…
