A new report released by the University of NSW (UNSW) and the Australian Council of Social Service (ACOSS) documents the extraordinary growth in housing rents across the Anglosphere over the pandemic:
At the national level, most of the Anglophone countries covered in this study (especially Australia, Ireland, New Zealand, the UK and the US) saw a brief initial reduction in general rent inflation (rent prices rising more slowly) at the start of the pandemic, followed by rapidly accelerating advertised rents during 2021. By late 2021, market rents for available properties in all of these countries were escalating at more than 8%…
The report notes that rental growth has been much stronger for houses than apartments:
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
