Australia experiences a rental affordability crisis with 17% rent increase in a year, leading to the lowest affordability in 17 years.

Australia faces a rental affordability crisis, with rents rising 17% in the past year, resulting in the lowest affordability in 17 years. The combination of soaring rental prices, limited property listings, and a growing population has created the toughest rental market in decades. Vacancy rates have dropped to a record low of 0.7%, while the lowest income renters are struggling to afford housing.

March 13, 2024
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