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Record-high rents and low supply are worsening housing stress in Australia, with weekly rents now averaging over $700.
Soaring rents and a record-low rental vacancy rate of 1.47% are driving housing stress across Australia, with median weekly rents surpassing $700 for the first time, up 44% over five years.
Limited supply—25% below average—has intensified competition, pushing renters to apply for unsuitable homes or bid aggressively, while many avoid reporting repairs due to fear of rent hikes.
Sydney remains the least affordable city at $807 per week, followed by Perth and Brisbane, while Hobart is the most affordable at $584.
Darwin saw the largest rent increase at nearly 8%, while Melbourne rose just 1.4%.
Regional rents, at $591 per week, are rising faster than capital city rents.
Only the ACT has a CPI-linked rent increase guideline, and rising rents are contributing to inflation, potentially delaying future interest rate cuts by the Reserve Bank of Australia.
Los alquileres récord y la escasa oferta están empeorando la tensión de la vivienda en Australia, con un promedio de alquileres semanales de más de $700.