Rental crisis deepens as available properties halve
A lack of new supply and further population pressures point to a sustained rental crisis across Australia, with fewer properties available for rent every month and property affordability still a major issue for many prospective buyers.
Further pressure on rental supply appears inevitable. (Image source: Shutterstock.com)
Australia’s rental crisis is only getting worse, with 54 per cent fewer properties available nationally compared to the height of the pandemic in April 2020.
While Sydney lays claim to the most expensive rental market ($700/week average) and Melbourne room prices jumped 22.2 per cent in the year to 1 September, the lack of available rental properties was starkest in Western Australia, South Australia and Queensland.
With housing in such short s…
