Australian rents increased by 40% since the pandemic began, with median asking rent at $630 a week in June 2021.
Rents in Australia have increased by 40% since the pandemic began, with a median asking rent of $630 a week in June, up from $450 in March 2020. Factors include closed borders leaving inner-city apartments vacant and a shift towards smaller households during the work-from-home era. Sydney saw a 38.5% increase, Melbourne a 27.9% rise, Perth a 71.9% surge, and Brisbane a 53.8% hike.
July 21, 2024
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