New figures have exposed the extent of Australia’s worsening rental crisis, with experts warning there’s “no end in sight”. Nationally, the cost of renting homes and apartments has risen to all-time highs. Unit residents are feeling the greatest price hardship as the national rental crisis worsens. The price increases for renters did not have the same impetus and slowed down in the short term.
According to the most recent Domain data, rents for homes have increased by 12.8% annually and 1.9% during the last three months (compared to 3 per cent up over the three months to June). Unit rents have risen 16.7 over the past year and 6.5 over the last quarter, which is a more pronounced increase. The price of homes has increased every three months for the past 18 months, and the price of apartments has increased nonstop for 15 months.
